What is an “Asset Management” Organization?
An Asset Management organization –
- Recognizes that a purely functional approach to managing buildings leaves value on the table.
- Uses building asset management as the mechanism to bind the organization together in pursuit of a common purpose.
- Wants to adopt the asset management paradigm.
Asset Management Organization
A set of discrete, functional activities delivered to individual best practices
Optimal cross-functional management of assets to maximize value
Technology supports performance of functional activities
Technology is used to manage functional activities and captures targeted information about assets.
Information is used to manage processes and budgets associated with functional activities.
Cross-functional information enables the analytics needed to optimize asset decision-making and to create value in the overlap activities.
Analytics report information from functional technology tools and support process improvement.
Analytics provide cross-functional insights that improve asset decision-making.
Accounting expense reductions aligned to functional budgets.
The optimum combination of asset cost, reliability and performance – consistent with budget constraints and risk tolerance – linked to shareholder value.