Some of today's top facilities managers are discovering that implementing strategic asset management initiatives, such as utilizing a facility condition assessment model, provide for sound decision making when developing strategic capital renewal plans.
For example, effective planning for the future is not possible without an accurate assessment of the current conditions of the assets under management. Only then can a precise forecast of the potential factors impacting the overall performance of the facilities and assets be understood.
Successful facility management achieves two primary objectives: 1) it clearly communicates the strategy of the capital renewal process to the facilities team, and 2) it insures that the facilities team endorses the importance of standardized tactics which define how operations are expected to function, control budgets and fit within a flexible system of maintenance planning and scheduling. These are the basics on which leading operations are built and investments in assets are maximized.
Designing and implementing a strategic plan that addresses the issues of capital renewal, proper maintenance and cost containment requires facilities managers to perform comprehensive condition assessments of the facilities. This is not a simple process. To create a meaningful strategic plan, the process must address all aspects of facilities and asset base including: infrastructure, site improvements, structures, systems, and, fixed assets. The resulting strategic plan can provide management with the tool for effectively operating and preserving the organization's assets.
Critical information about each facility and asset, such as detailed specifications of individual components, date in service, effective life cycle, estimated replacement cost, deferred maintenance, condition, and budgets needs to be identified and tracked for a strategic plan to be effective. From the first day any specific component of the strategic plan is put into service, a plan for its replacement should be developed, monitored and adjusted as required throughout its life cycle. In reality, even this practice cannot eliminate every unplanned repair or crisis. However, having the strategic plan in place means that unplanned events should not cause major disruption in operations and/or budget cycles.
Asset Management Technology Solutions
Today's asset management technology solutions allow facility managers to communicate and enforce standardized tactics. This provides a more efficient method for controlling and managing operations and maintenance services, which creates better use of staff and resources.
Facility and business managers can use available data to access critical information about their physical plant and fixed assets that are unavailable with traditional facility audit methods. By analyzing the life cycle of the asset, its component systems and site features, facility managers are able to integrate physical plant management, financial planning, capital acquisition, resource allocation, and institutional stewardship.
Asset management solutions track the on-going condition of each component of the facilities. This real-time data collection includes: asset inventories, condition assessments, capital renewal, resource management, utilization and all aspects of operations and maintenance. This allows the strategic plan to be continually monitored and updated to reflect the actual conditions and real needs. Once established, the strategic plan is easily maintained and can be readily adapted to evolving asset conditions without time-consuming and expensive customization. The net result is a better way to keep operating costs under control, while improving maintenance and customer service.
By creating a virtual model of an organization's facilities and asset base, asset management systems support informed facilities management decisions by presenting data that will clarify how different funding levels of operations and maintenance would affect the long-term conditions of the facilities.
Summary
Effective asset management solutions provide the ability to create an effective strategic plan through:
� Benchmarking facility and asset conditions and performance,
� Establishing condition assessment models and targets,
� Forecasting long-range funding needs and project requirements,
� Prioritizing spending of limited budgets and monitoring deferred maintenance,
� Optimizing project economies of scale opportunities and volume pricing, and
� Predicting the impact of changing budgets and conditions.
Facilities management today is a business within a business. By applying "best practices" to the strategic planning process, facilities management professionals are better prepared to anticipate needs and reduce costs.
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