What is the current value of your facility assets, and what is the current age of each HVAC unit and piece of equipment in your facility? Can it be repaired within reason, and if so, what is the expected impact to facilities spend for the repair?

If you cannot answer these questions, your career could be in jeopardy.

That sounds like a C-Suite meeting nightmare, but it is a stark reality for Facilities Managers and team members who do not understand or know the specifics of asset management and its impact on the facilities management budget. The keys to managing assets proactively rest on understanding asset status to extend life expectancy and using this information to make informed decisions.

Asset management is simply knowing when to repair, replace or take other actions for a given asset, based on factors affecting its performance. To help your organization succeed in your trek toward control of facilities spend and enhanced customer service and experiences, a winning strategy must focus on the details in asset management.

In this 2nd white paper in our areas to focus on for strategic facilities management white paper series, you'll learn:

  • How to Identify Asset Status, Risk, and Opportunity
  • The importance of Implementing Powerful Analytics to Monitor Asset Performance
  • Why Key Performance Indicators Provide Immediate Review of Target Performance
  • How Automation and Nationwide Asset Management Drives the Biggest Cost Savings