A community driven by and for FM professionals and enthusiasts to connect, share, and learn from one another.
From basic facilities management jargon to complex service issues, this is your go-to FM knowledge centre.

FM Industry Standards & Legislation

FM Strategy

Commercial & Contracts

Statutory Compliance & H&S

Performance Monitoring

Technology

Operational Delivery

(Soft FM)

Operational Delivery

Estates Maintenance (Hard FM)

Operational Delivery

Management

When would I need a...
 
Notifications
Clear all

When would I need asset management?

1 Posts
1 Users
0 Likes
75 Views
Posts: 70
Admin
Topic starter
(@joe)
Member
Joined: 2 years ago

Asset management can be valuable for facilities management in several scenarios. Here are a few examples:

  • New Facility: When you are setting up a new facility, asset management services can help you create an inventory of all the equipment, machinery, and assets that need to be installed and maintained. Asset management can help you keep track of warranties, maintenance schedules, and other critical information.

 

  • Maintenance and Repairs: Asset management services can be useful when it comes to maintaining and repairing your facility's assets. By tracking the condition of your assets, you can plan preventative maintenance to keep equipment running efficiently, minimize downtime and reduce repair costs.

 

  • End-of-life Management: At some point, all assets will reach the end of their useful life. Asset management services can help you plan for the replacement of old equipment and ensure that the end-of-life equipment is properly disposed of.

 

  • Budget Planning: With a complete inventory of your assets, you can better plan for budgeting for repairs, maintenance, and replacements. Asset management services can help you forecast your facility's asset-related expenses and enable you to budget more accurately.

 

  • Compliance: Certain assets may have compliance requirements, including inspections, certifications, and maintenance schedules. Asset management services can help you ensure that all of your assets are up to code, reducing your risk of fines or other penalties.

 

Overall, if your facility relies on critical assets to operate effectively, asset management services can help you manage and maintain your assets proactively, reducing downtime and prolonging their useful life.

Topic Tags
The Facilities Management Forum logo