What information can you get from an asset list?

An asset list isn’t just about a list of equipment or properties, the asset list itself offers up a lot more use depending how you use the data. I for one have seen it getting used in many ways but also I do believe there is a misunderstanding within the FM industry of the value of asset data.

Bidding on contract –

With an up to date asset list you can actually use it to bid on contracts. But also if you have the maintenance regime that went with it you can also identify where you can generate cost savings and where the contract has risk. You can identify risk in several key areas, risk of loss of life, financial risk to FM company and financial risk to client.

But further more having historic data you can get an idea of hours, number of engineers, problematic equipment and if an initial asset sample is taken identification of assets missing which should be identified and removed from bid cost.

Staff Numbers –

If you know what assets you have you can identify the maintenance regimes required and thus generate the hours needed. The output from that being an accurate estimate of staffing levels to meet contract obligations. If there is historical asset data relating to helpdesk calls you can generate an estimated out of hours figure from the old data but also what assets are generally the problem on the contract and if they are actually on the asset list.

Monthly targets –

For maintenance with all asset captured you can generate your maintenance regime and break it down into monthly maintenance patterns. Using the data you can generate targets for the month from the 1st allowing your maintenance staff to carry out pre-programmed tasks and timescales. This also identifies if there are certain periods with excessive maintenance and as such adjustments can be made to allow balancing of maintenance throughout the year to make sure all targets are met.

Statutory and Mandatory obligations –

As the maintenance is carried out with specific maintenance regimes inline with SFG20 this allows for updating of changes inline with requirements. E.g. Fan Coil Units may have a legislative maintenance regime change or requirements. But having the Asset data and maintenance regime running through a CAFM system (Computer Aided Facilities Management) if you update one you can update all with the changes. If this is managed externally the company providing the CAFM support would update all contracts that it handles (if written into contract).

Downsizing or increasing maintenance –

Environments can change maintenance regimes significantly. E.g. working in the desert means condensers need extra maintenance due to fine sand getting into bearings. But at the same time if you have an occassional use office you may find most assets in that office could be downgraded to bare minimum. Identifying your assets individually allows you to adjust the maintenance per item. But also with the condensers in the desert you could group the assets by parent and child to carry out more maintenance.

Running reports –

There are many processes that can become fully automated once time is invested in understanding what you can get out of the asset data. For example you could run a monthly report on compliance, energy usage, equipment coming to end of life, upgrades, environmental and energy impact as well as recommended changes due to phasing out obsolete with new technologies.

Forward programming of budgets –

Understanding assets allows for forward programming of changes, upgrades, phasing out and new equipment. Not only for this year but the ability to program for the next 20 years even. Also the replacement savings tied with it for possible increased budget ability. E.g. showing lighting upgrades in year one would have an increased energy saving. The money saved by the upgrade could assist in supporting upgrading more lighting throughout a building or contract. In the same way adding things like power invertors, although there is an initial cost its the ability to show a saving over months, a year and years that supports requesting the upgrading. But also gaining the upgrade work adds value to the contract and increased opportunity both financially and with client relationships.

This list may seem fairly extensive but the fact is there are many more things you can do with asset data. The FM industry needs to embrace more what can be achieved but also working with asset integrity specialists you can also aim to ask questions that have not yet been asked or actioned within your contracts. As the more asset management comes into its own the more you will find it can assist in your daily tasks to improve your efficiencies. As well as automate many tasks that are currently time consuming.