Asset Management
Facility asset management is the lifecycle planning of assets in an organization, which allows facility managers to anticipate costs, plan for maintenance and upgrades, and minimize total cost of ownership at the asset level. A good asset management strategy can deliver significant financial and performance/service improvements to an organization. It can also make an FM’s life easier at an operational level. Technology plays a major role in each phase of an asset’s life, from tracking an asset’s location to managing the maintenance cycle. This in turn promotes optimization of resources, thus improving efficiency of the asset.