IFMA Logo

L

Knowledge Library
Filter by
Subjects
Category
Type

Lease buyout

An agreement where the lease of an existing tenant is given up for its remaining term. The agreement makes the existing lease […]

Liability insurance

Insurance that protects the insured against lawsuits brought in response to supposed acts of negligence that result in injury or loss of […]

Letter of intent

A document issued by the owner to the contractor to allow work to begin prior to execution of the formal contract.

Low-cost/No-cost initiatives

Initiatives that fit into the operational budget and normal operating work procedures, not requiring any special or additional funding.

Life-cycle cost (LCC)

Process of determining (in present-value terms) all costs incident to the planning, design, construction, operation and maintenance, and disposition of an asset […]

Lagging indicator

A metric that mainly refers to past developments, effects and results. It depicts actual trends against performance levels.

Level of Service (LOS)

A quantitative description of the provider will support service through availability, serviceability, performance, operation, or other attributes.