What are the key objectives of asset management and facility management?

Capital spending – achieve optimal Capital Expenditure level while balancing Risk and Performance. Operations & Maintenance – target optimal MTBF (mean time between failures) and maximise primary business process reliability; End user/Occupier – maintain sufficient user feedback to achieve the first three objectives.

What is asset management meaning?

Asset management is the practice of increasing total wealth over time by acquiring, maintaining, and trading investments that have the potential to grow in value. They may also be called portfolio managers or financial advisors.

What are the different basic strategies of asset management?

A basic strategic asset management plan will include the following six phases:

• Acquisitions (including leases or rentals).
• Operations.
• Maintenance.
• Disposal.
• Funding.
• Risk assessment and management.

What is an asset management strategy?

An Asset Management Strategy is a strategy for the implementation and documentation of asset management practices, plans, processes & procedures within an organisation. It is a high level but very important document that guides the overall asset management activities within an organisation.

What do I need to be an asset manager?

An asset manager will be expected to have a bachelor’s degree as a minimum, usually in a field such as finance, accounting, or business. More and more organizations now look for those with a master’s degree.

What is the process of asset management?

Asset management is the process of planning and controlling the acquisition, operation, maintenance, renewal, and disposal of organizational assets. Adequate maintenance and proper deployment of systems, people, and processes ensure a positive enhancement of capital over the asset lifecycle.

What should be in an asset management plan?

These requirements include:

• Introduction and Overview.
• Service Levels (derived from Service Planning)
• Future Demand (derived from Corporate Planning and Service Planning)
• Lifecycle Management and Financial Considerations.
• Asset Management Practices.
• Improvement and Monitoring.

What is the function of asset management?

IT asset management ( ITAM ) is the set of business practices that join financial, contractual and inventory functions to support life cycle management and strategic decision making for the IT environment. Assets include all elements of software and hardware that are found in the business environment.

What is asset management plan?

Asset Management Plan. An asset management plan (AMP) is a tactical plan for managing an organisation’s infrastructure and other assets to deliver an agreed standard of service.

What is asset management process?

Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks and performance attributes).

What is business asset management?

Management of a business. Asset management refers to systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles.