Facility management involves so much more than simply managing buildings, infrastructure, and services—it is absolutely critical to the successful functioning of every organization, according to a recent IFMA report on strategic decision making.
Asset optimization is all about making strategic improvements to the effectiveness of your overall asset management methodology by providing more holistic adjustments.
But first, a few key terms:
Asset is an item of value owned.
Optimization is the process or methodology for making something as functional or effective as possible.
Creating value with asset management optimization must go beyond simple cost reduction strategies. According to a recent article in Building Operating Magazine, "increases in productivity offer an opportunity to boost long-term profitability in a way that the most aggressive cost-cutting can’t match."
Here we drill down into the top 6 ways that asset management optimization creates value at your organization.
1. Strategic Management
Do the right work at the right time to deliver the right level of service.
2. More than Maintenance
Asset management requires leadership to drive change and implement controls through a management system across the organization
3. Improves ROI
Asset management delivers value by contributing to the bottom line – a 30% efficiency savings is typical.
4. Value for your Customers
Better managed assets have less faults and failures, resulting in improved performance.
5. Organizational Objectives
Better managed assets result in a safer built environment and reductions in environmental impact.
6. The Digital Difference
Better managed information and data analysis can save at least 5% for an organization's total expenditures.
In conclusion, when considering value in asset management it is essential that organizations "evaluate the balance between cost, risk and performance, thereby allowing better-informed decisions," according to a resent study by the Institute of Civil Engineers.
The discipline of Facility Management is about more than managing property assets, it is crucial to achieving maximum value from workplace and environmental benefits that improve productivity and protect employees and consumers.
Therefore it is absolutely essential to move beyond cost-cutting strategies and to implement a holistic asset management optimization methodology in order to truly create long-term value at your organization.
Our expert team at Intellis can help you prioritize investments, plan your next project and drive meaningful outcomes for the community you serve.
Having a comprehensive capital investment plan in place will help to alleviate some of that uncertainty. Now is the time to utilize powerful digital tools that will ensure your campus is prepared to leverage the best use and optimal performance of all capital resources with Intellis' solutions.
Schedule a Demo with our team to learn how we can help
From unlocking actionable insights in facility condition assessment data to capital planning, FOUNDATION by Intellis has proven functionality and capabilities to ensure that all campus facilities are prepared to deliver on your school's mission: education.
Intelligent Implement smart, automated software that you can rely on.
Predictive Identify issues before they arise so you can create action plans sooner.
Innovative Share reports quickly and easily to gain buy-in from key stakeholders.
The less time you and your facility management team spend on tedious administration, excel, and data entry, the more time you can focus on delivering an empowering student experience.
Find out how we can help your institution optimize its assets and plan for the future.