We found ourselves in an a situation, which I thought, had an unfortunate outcome for an employee of one of our competitors. I’m sure you’ve heard the expression “thrown under the bus”, this person was thrown under the entire depot. Regardless of the parameters, which are too lengthy to revise here, I thought there are some questions, which if all parties were aware of the answers or where to find the answers, then better outcomes, for all stakeholders, might eventuate. Hence , this post.
The Core Opportunity
The incumbent facility management company had chosen to abandon the maintenance of a preexisting asset register of the building. The outcome of this decision eventually led to their termination on the site, but, more importantly, it led to more cost for the building owner in the long term.
The opportunity to add value and keep adding value had now been degenerated, as valuable data over time had not been collected, hence, the opportunity to implement energy conservation strategies, building culture improvements and operational improvements were now delayed.
Building Owners compete in the market place selling commercial office space against their competitors. Technically, Building owners are focused on winning the race of value of their asset against their peers, to win, they need information or “Big Data” (if you’re trendy) to review and make decisions about where to take their asset.
Decisions from installing “End of Trip” facilities, to, selling the building, to what is the best price for maximum rental yield and so forth.
We Want Answers!
Building owners do not spend a lot of time in their buildings, they have better things to do, so when they need information (or data) they turn to Facility Managers and Property Managers for answers.
Some of these questions are market analysis or external data, other questions require internal data, which can typically be sourced from the asset register.
Why Have an Asset Register
In a nutshell, it will make your life easier, reduce stress and assists greatly in making decisions!
The Data in an asset register can be invaluable, especially obsolescence, and life term. This supports major asset purchasing decisions and maintenance decisions, the reader begins to view the situation with a lengthier appreciation of time, cost effectiveness and energy management. The outcome is a far more intelligent and evidence supported argument to why an action should or should not take place.
I’m sure you have heard of the term, BIM,
Building Information Modeling
From an operational point of view, it makes a valuable bridge between the construction and hand over phase to the facility management and on-going operations stage of the building. BIM is, in essence an Asset Register, but with a focus to assist the bridge mentioned above.