Facilities Managers can track overarching and granular data for all assets, but it creates a sense of information overload. Facilities Managers may just be incapable of making sense of the data. As explained by iOfficeCorp, categorizing facility assets by type can help prevent issues from being overlooked. Facilities Managers that categorize data by asset type can also improve maintenance schedule practices and lower spending.
Broad Strokes Leave Facility Asset Types Unreviewed
Taking a broad approach to managing facility asset types will result in overseen issues. HVAC system components may be on the brink of failure, but improper analysis of such assets will result in inefficiencies and inaccuracies in creating and prioritizing maintenance needs. Regarding work order creation, poor use of data can also result in selecting the wrong contractor to make repairs, increasing costs and reducing the cost-effectiveness of modern facilities management systems.
Tracking Facility Assets by Type Improves Benchmarking Processes
Using data to track facility asset types moves management practices toward proactive management, enabling better benchmarking of performance and processes. Key characteristics of a successful asset management program, reports the Department of Transportation, include:
- Applied strategic goals and policies.
- Addresses network-wide issues.
- Integrates into an interoperable environment.
- Use data and fiscal responsibility in making decisions.
- Models internal processes after public goals.
- Establishes efficient documentation and communication channels.
What Types of Assets Can Facilities Managers Track?
There are thousands of individual assets, Facilities Managers can use to track through data, but they generally fall into one of several categories. Asset types can be broken down into five dominant categories, including:
- Information management and technology assets. The first category includes assets used to manage overall facility’s needs, including the CMMS.
- Employee personal equipment. Equipment used by the facilities management staff, including personal protective equipment, represents another expensive Facilities Managers, and as a result, it is an asset.
- Facility-related assets. Facility-related assets are those that are actually used in creating ideal conditions in the facility, such as the lighting, HVAC and plumbing systems.
- Vendor costs and performance. Vendors make up another important asset for your facility, including their costs and ability to provide cost-effective work.
- Even though consumers are the end-users of your products or services, they are an asset, and as a result, Facilities Managers need to treat them like a vital part of your organization. In other words, the customer should be giving the best experience possible, going back to the need for superior facility conditions and asset performance.
Know Your Asset Types and Data Now
Facilities Managers that understand data types and asset categories can streamline facilities management. This is achieved by assigning peers to oversee assets and manage repairs, giving the Facility Manager the opportunity to visit other sites and manage more facilities. Essentially, understanding asset types is a key step in managing a multi-site portfolio.