Modern building operations glossary

A

API-first infrastructure
A platform designed from the ground up to connect with other systems. Instead of bolting on integrations as an afterthought, API-first architecture makes data exchange a core capability, so your tools actually talk to each other.

Application programming interface (API) integration
A way for different software systems to connect and share information automatically. When your systems are integrated through APIs, data entered in one place shows up everywhere else without manual re-entry.

Asset management
Keeping track of building equipment like HVAC systems, elevators and lighting. Good asset management means you know what you have, how old it is, how it’s performing and when it needs service.

Audit readiness
Having the right records, processes and documentation organized and accessible. When an audit or review comes up, a prepared team responds in hours, not weeks.

B

Bid management
The process of collecting, comparing and selecting vendor bids for a project. It gives property teams a documented, organized way to pick the right partner at the right cost.

Billback
A charge passed to a tenant for services performed in their space, like after-hours HVAC or special cleaning. Tracking billbacks accurately is one of the easiest ways to recover revenue that would otherwise go uncollected.

Building access control
A security system that determines who can enter a building, specific floors or restricted areas based on verified credentials. It replaces traditional lock-and-key setups with electronic authentication and keeps a digital record of every entry.

Building analytics
Reports and data visualizations that show how your building is performing. They help you spot trends, compare properties and figure out where to focus your team’s time.

Building communications
The tools and channels property teams use to share updates, alerts and announcements with tenants. Good building communications keep everyone informed about what’s happening, from scheduled maintenance to community events.

Building Engines
A technology company that helps commercial real estate property teams manage building operations, improve tenant experience and drive better portfolio performance with the Prism platform.

Building management system (BMS)
A centralized system that monitors and controls a building’s mechanical and electrical equipment, including HVAC, lighting and fire systems. It gives facility teams visibility into all major building systems from one interface.

Building operations
All the tasks involved in running a building day to day: maintenance, repairs, tenant services, vendor coordination, safety checks and more.

Building operations software
Software that helps property teams manage day-to-day building activities like maintenance, vendors and tenant requests in one place. It replaces spreadsheets and disconnected tools with a single system that keeps everything organized.

C

CapEx project management
Planning, tracking and overseeing major capital improvement projects from budgeting through completion. The goal is keeping work on time, on budget and aligned with ownership’s investment strategy.

Capital expenditures (CapEx)
Major investments in building systems or physical assets, like replacing a roof, upgrading an elevator or installing a new HVAC system. These are long-term investments that improve the building’s value and performance over time.

Certificate of insurance (COI)
A document that proves a vendor or contractor has the required insurance coverage. Property teams collect COIs before any work begins to protect the building from liability.

Certificate of insurance management (COI management)
Collecting, verifying and continuously monitoring vendor and tenant insurance documents. It’s how property teams make sure coverage stays current and no one is working on-site without proper insurance.

Change management
The process of guiding people and teams through a transition, like adopting new software or restructuring workflows. Done well, it reduces resistance, speeds up adoption and keeps operations running during the switch.

Cloud-native platform
Software built to run entirely in the cloud from the start. It scales easily, stays up to date automatically and can be accessed securely from any device with an internet connection.

Commercial real estate (CRE)
Property used for business purposes, including office buildings, retail centers, industrial facilities and mixed-use developments. The focus in CRE is generating income and growing long-term value.

Common area maintenance (CAM)
The costs of operating and maintaining shared building spaces like lobbies, hallways and parking areas. CAM charges are typically passed through to tenants as part of their lease.

Compliance management
Keeping track of the rules, requirements and internal standards that apply to your building. This covers everything from fire safety codes to insurance documentation to environmental regulations.

Computerized maintenance management system (CMMS)
Software that helps teams plan, schedule and track maintenance work. A CMMS manages equipment records, generates work orders and keeps a history of everything that’s been done, so nothing gets forgotten.

Contract management
Tracking and managing agreements with vendors so that terms, timelines, costs and responsibilities are clear. Good contract management makes it easy to hold vendors accountable and spot renewals before they sneak up on you.

Corrective maintenance
Repairs performed after a piece of equipment has already failed or broken down. It’s the opposite of preventive maintenance, where you service equipment on a schedule to avoid failures in the first place.

D

Data-driven decision-making
Using real information from your buildings, like maintenance costs, work order trends and tenant feedback, to guide your next move. It replaces gut-feel decisions with evidence.

Digital twin
A virtual replica of a physical building that uses real-time sensor data to simulate how systems are performing. Property teams use digital twins to test scenarios, optimize energy use and plan improvements before committing resources.

Document management
Organizing, storing and retrieving building-related documents like leases, contracts, permits and equipment manuals in a central system. It saves your team from digging through filing cabinets or email chains when they need something fast.

E

Energy management
Monitoring and controlling a building’s energy use through tools like smart thermostats, LED lighting and usage tracking. Effective energy management lowers utility costs and supports sustainability targets.

Enterprise resource planning (ERP)
A large-scale software system that integrates core business functions like accounting, procurement and operations into a single platform. In CRE, ERP systems often handle the financial side while dedicated building operations platforms manage the day-to-day work.

Equipment lifecycle
The full life of a piece of equipment, from installation to retirement. Understanding where each asset sits in its lifecycle helps you plan maintenance, budget for replacements and avoid costly surprises.

ESG (Environmental, Social and Governance)
A framework for evaluating a building’s environmental impact, social responsibility and management practices. ESG criteria increasingly influence tenant decisions, investor interest and regulatory requirements in commercial real estate.

F

Facility management
The day-to-day work of keeping a building clean, safe and running. It covers maintenance, cleaning, security, vendor coordination and all the other operational tasks that keep a property functioning.

G

Guest access
Providing temporary entry to visitors so they can get into the building without a hassle, while the property team still controls who’s on-site and when.

H

HqO
A tenant experience platform that helps create more engaging, connected workplaces by supporting communication, services and amenities. HqO integrates with Prism to deliver premium branded experiences for Class A properties.

I

Impairment
A temporary disruption to a building system that affects normal operations, like an elevator outage, power failure or water shut-off. Tracking impairments helps teams respond quickly and document what happened for future reference.

Incident management
The process of tracking and resolving unexpected issues like safety events, slip-and-falls or equipment failures. It ensures problems are handled quickly, documented properly and followed up on.

Inspection management
Scheduling, conducting and tracking inspections of building systems and spaces. Regular inspections help you catch issues early, document conditions over time and stay compliant with local requirements.

Insurance management
Tracking and managing insurance requirements and documents across vendors and tenants. The goal is making sure coverage stays current, gaps get flagged and your properties aren’t exposed to unnecessary liability.

Interactive floor plans
Digital layouts of a building that let users view, click into and interact with individual spaces. Property teams use them to manage occupancy, visualize available space and plan how areas are used.

Internet of Things (IoT)
A network of sensors and connected devices embedded in building systems like HVAC units, lighting and elevators. These devices collect real-time performance data that helps teams monitor conditions and catch problems early.

L

Lease abstraction
Pulling key details out of a lease agreement, like rent amounts, renewal dates and tenant obligations, into a quick-reference summary. It saves property teams from reading through full lease documents every time they need a specific detail.

LEED certification
A widely recognized green building certification (Leadership in Energy and Environmental Design) that signals a property meets high standards for energy efficiency, water conservation and environmental performance. LEED-certified buildings often command higher rents and attract quality tenants.

M

Maintenance scheduling
Planning when maintenance work should happen so that tasks are completed on time and equipment stays in good condition. A clear schedule prevents the backlog that leads to emergency repairs.

Mobile workforce
Teams that use phones or tablets to manage work in the field. They can update tasks, take photos, pull up equipment records and close out work orders without going back to a desk.

Mobile-first design
Software built with phones and tablets as the primary interface. Engineers and field teams can update work orders, log inspections and access building information from wherever they are, including areas with spotty connectivity.

Modular platform
A software system built from independent components that can be adopted one at a time. You start with the features you need most and add more as your operations grow, without switching to a different system later.

N

Net operating income (NOI)
The income a property generates after operating expenses are deducted. NOI is widely considered the most important financial metric in commercial real estate because it measures how much money a building actually makes.

Net operating income optimization (NOI optimization)
Improving a building’s financial performance by finding ways to increase revenue and reduce operating costs. The best NOI optimization strategies improve the bottom line without cutting corners on service quality.

Not-to-exceed (NTE) amount
A cost limit set on a job or contract. NTE amounts help property teams control spending, set clear expectations with vendors and prevent budget overruns before they happen.

o

Occupancy management
Understanding and tracking how building spaces are actually being used. This data helps property teams optimize layouts, plan for growth and make better leasing decisions.

Operating expenses (OpEx)
The recurring costs of running a building: utilities, cleaning, maintenance, management fees and similar ongoing charges. OpEx directly affects your property’s net operating income.

Operational intelligence
The ability to turn day-to-day operational data, like work order trends, maintenance costs and tenant feedback, into insights your team can act on. It’s the difference between having data and actually using it.

P

Platform migration
The process of moving your data, workflows and users from one software system to another. A good migration is planned carefully so that building operations keep running normally during the switch.

Portfolio analytics
Data and reporting that let you compare how all your properties are performing side by side. It makes it easier to identify top performers, spot problems and prioritize where to invest your time.

Portfolio performance
A big-picture view of how all your properties are doing relative to each other. Tracking portfolio performance helps you benchmark buildings, share best practices across teams and set realistic goals.

Predictive maintenance
Using sensor data and AI to anticipate equipment failures before they happen. Instead of reacting to breakdowns, teams can schedule targeted repairs during planned downtime and avoid the cost and disruption of emergencies.

Preventive maintenance
Routine, planned maintenance performed on a regular schedule to keep equipment running and prevent breakdowns. Industry data shows that emergency repairs typically cost three to four times more than scheduled maintenance, which makes a preventive approach one of the best investments a property team can make.

Prism
Building Engines’ platform that brings together maintenance, operations, vendor management, tenant experience and analytics in one place. Property teams use Prism to run buildings more efficiently and make better decisions with their operational data.

Prism AI
AI built into the Prism platform that turns your property data and documents into clear answers and recommended actions. Teams can ask questions in plain language and get instant insights instead of spending hours pulling reports manually.

Prism Mobile
A mobile app that lets property teams manage work orders, inspections, preventive maintenance tasks and more from anywhere. It works offline too, so engineers can keep moving even in basements and mechanical rooms.

Property management software
A digital platform that helps teams run buildings more efficiently by organizing maintenance, communication, vendor management and daily operations in one system instead of across scattered spreadsheets and tools.

PropTech
Technology designed for the real estate industry. PropTech covers everything from building operations software and tenant engagement platforms to smart building sensors and AI-powered analytics.

Purchase order
A document used to request and track purchases from vendors. Purchase orders create a paper trail that helps manage spending, maintain approval workflows and keep financial records organized.

R

RDM Real Access
A system for managing and monitoring physical access to buildings. It helps property teams control who can enter, track entry activity and create a smoother experience for tenants and visitors.

Reactive maintenance
A maintenance approach where repairs happen only after something breaks. While it avoids upfront spending, reactive maintenance almost always costs more in the long run due to emergency labor rates, collateral damage and unplanned downtime.

Real-time data
Live, up-to-date information from your building systems and operations. With real-time data, your team can respond to what’s happening now instead of waiting for a monthly report to surface issues.

Refrigerant tracking
Monitoring the use and disposal of refrigerants in HVAC systems. Accurate tracking helps property teams meet environmental regulations, maintain equipment performance and support sustainability reporting.

Regulatory compliance
Following the laws and regulations that apply to building operations, including safety codes, accessibility standards and environmental requirements. Staying compliant protects your property from fines, legal action and reputational risk.

Request for proposal (RFP)
A formal document that asks vendors to submit detailed proposals for a specific project or service. RFPs let you compare options on scope, cost and capability before choosing a partner.

Resource reservation
Managing and scheduling shared spaces or services like conference rooms, event spaces or amenities. A good reservation system lets tenants book what they need on their own and eliminates double-bookings.

Risk management
Identifying, tracking and reducing potential risks across your properties. This covers vendor insurance gaps, safety hazards, compliance exposure and anything else that could lead to financial loss or operational disruption.

Role-based access control
A security approach where each user only sees the features and data relevant to their job. Engineers get a mobile-optimized field view, asset managers get portfolio dashboards, and owners get executive reporting.

S

Safety inspections
Regular checks to confirm that building systems and spaces are safe for tenants, staff and visitors. Documenting inspections consistently helps you catch hazards early and reduces liability.

Service level agreement (SLA)
A defined standard for how quickly and effectively work should be completed, like a target response time for urgent maintenance requests. SLAs set clear expectations and give you a way to measure whether your team is hitting them.

Smart building
A building that uses connected sensors, automation and data analytics to manage systems like lighting, HVAC and security more efficiently. Smart buildings adapt to occupancy patterns, reduce energy waste and give property teams better visibility into how everything is running.

SOC 2 Type II
A security certification that verifies a software provider has been independently audited for how it handles and protects customer data over time. It’s one of the most widely recognized standards for data security in enterprise software.

Space management
Understanding and organizing how space is used in a building. Effective space management helps property teams make better decisions about layout, occupancy and leasing.

Space measurement
Measuring and tracking how much usable and rentable space exists in a building. Accurate measurements are the foundation for fair leasing, proper CAM allocations and getting the most value out of every square foot.

Sustainability management
Tracking and improving a building’s environmental performance, including energy use, water consumption, waste reduction and refrigerant tracking. Beyond meeting regulations, sustainability programs often lower operating costs and appeal to tenants who prioritize responsible building practices.

System integration
Connecting multiple tools and systems, like accounting, access control and operations software, so they share data and work together. It eliminates the need to re-enter information across platforms or switch between disconnected tools.

System of record
The primary system where important data is stored and managed. It serves as the single, reliable source of truth for things like insurance documents, compliance records or equipment histories.

T

Tenant compliance
Making sure tenants meet building requirements like insurance documentation, safety standards and lease obligations. Enforcing tenant compliance consistently reduces risk across your property.

Tenant engagement
How building teams communicate and interact with tenants through updates, events, feedback surveys and digital channels. Strong tenant engagement keeps people informed, builds loyalty and makes the building feel like more than just a place to work.

Tenant experience platform
A platform that brings together everything tenants need to interact with their building, from submitting service requests and booking amenities to receiving updates and checking in visitors.

Tenant portal
An online hub where tenants can submit maintenance requests, book amenities, manage visitors and get building updates. It gives tenants a self-service option instead of calling or emailing the management office for every question.

Tenant retention
The practice of keeping existing tenants happy so they renew their leases. Retention matters because vacancy and turnover costs, including lost rent, broker fees and build-out expenses, are consistently among the biggest threats to a property’s profitability.

Tenant satisfaction
A measure of how happy tenants are with their building experience, from maintenance responsiveness to communication quality. Research shows that a one-point increase in satisfaction scores is associated with an 8.62% higher willingness to renew.

V

Vendor contracts
Formal agreements with service providers that define the scope of work, pricing, timelines and expectations. Clear contracts make it easier to hold vendors accountable and avoid disputes.

Vendor management
Managing outside service providers like cleaners, contractors and technicians. It includes selecting vendors, tracking their performance, managing costs and making sure work gets done on time and to the right standard.

Visitor access
Managing how guests enter and move through a building. A good visitor access process keeps the building secure while making the arrival experience smooth for tenants’ clients and other guests.

Visitor management
A system for recording, screening and tracking everyone who enters a building. It gives property teams a clear record of who’s on-site, when they arrived and why, while keeping check-in quick and simple for visitors.

W

Work order
A formal request to perform maintenance or repair work in a building. Each work order captures the issue, location, priority level and assigned team member so that nothing gets lost or overlooked.

Work order management
A system for tracking maintenance requests from the moment an issue is reported through to completion. It covers assignment, status updates, cost tracking and tenant communication at every step.

Workplace experience
What it feels like to work in a building: the comfort, convenience, safety and access to services that shape a tenant’s daily routine. Buildings that deliver a strong workplace experience tend to see higher occupancy and better retention.