Asset Register Core Information
Implementing and maintaining an asset register, which serves to document the building’s service’s and fixed assets, offer the opportunity to improve the overall performance of the building in more than one discipline and often, with little cost.
It’s not until an operator such as a building manager, or engineering manager, look at the data in the asset register, that opportunities begin to
Jump off the page
so to speak.
Why is the Asset Register so Important
It seems obvious, at least at first, that the implementation and regular maintenance of an Asset register is a fundamental part of facility and building management.
The reason it is not is typically because of time. Costs are allocated to staff for the scope of works which is often dominated by the “putting out of fires” as their core activity.
It is not until a more effective management regime or system is put in place, whom conscientiously maintain an asset register, that the fuel for the fires is reduced. Crystallizing the investment of time and effort, into a higher performing building which is generating greater income and improved budget management for the Landlord.
Ask your building manager if they have an asset register for your building, I’m sure you will be able to correlate the building’s performance with the answer you receive.
Big Data or Useful Data
There are costs involved which essentially derive form the time staff and building management put into the data base of the asset register. The Scope of of data can be a “bottomless pit”, the information needs to be as automated as possible and as usefully as possible. Information such as brand, date of manufacture or useful “snippets”; color, is doubtful as a useful parameter.
Every situation is different, in the medical and Aged environment, color could be a vital parameter, in the IT environment, everything is black or grey.
Consultation with the client is critical here, but common sense must part a part also. The people whom are in field collecting data, especially within an existing building, have limited time and resources so collecting information and parameters which are useful is the foundation and the integrity of the asset register data base.
A system to Review the Data
The Integrity of the data, as mentioned above, is the foundation of the investment on behalf of all the stakeholders in the building, including the Facility Management employees as they use and rely on the data. Too much data that is effectively useless and creates a dysfunctional system for all, its like “hoarding” too much garbage which needs to be thrown out, i.e deleted.
Picture your favorite Hoarding house which I’m sure you have seen in the media; there could be some worth while product in there, but if you have to sift through tonnes of garbage to get to it, are you going to go back next time…..no……you’ll buy a new one and be done with it, your time is more valuable.
Reviewing the data within the asset register in a regular and scheduled manner will lead to the visibility of trends, discovering business opportunities and business losses consequently saving money and time. Repeated issues will become clear, over or under spending in correlation to maintenance and faults will become evident, effective maintenance and repair strategies can be analyzed for their performance, and the overall performance of the building will improve because of your visibility into the systems.
Building Performance Vs Operational Results
Comparing old data to new data can reveal if the operational changes implemented, from the initial checks and balances of the database, to save money or conserve energy, have had a positive or detrimental effect of the building’s performance over the term monitored.
This information might open some questions:
- Has tenant retention changed?
- Has the commercial market changed in line with the building’s peers?
- Are there direct or indirect consequence of the changes? and many more………….
It is up to you now!
Forte Asset Services