If you manage an extensive portfolio of assets, keeping track of their condition can be a daunting task. That’s where asset managers and their surveys come in. Asset management surveys provide an inventory of your assets and their current condition, allowing you to make informed decisions about repair, replacement, and maintenance.
At Roger Hannah, our team of experienced surveyors are some of the best in the industry. We provide comprehensive asset management surveys for commercial and corporate clients. We understand the importance of accurate data, and our surveys are designed to give you the information you need to make the best decisions for your assets.
What is asset management?
Asset management is the process of identifying, cataloguing, and maintaining information on client assets. This includes buildings, machinery, vehicles, furniture, equipment, and other property. The goal is to maximise the value and usefulness of an organisation’s assets while minimising costs.
An asset survey is a tool used to inventory an organisation’s physical assets. The survey should include information on each asset’s location, condition, and value.
What questions should I ask an asset manager?
Some questions you may want to ask an asset manager include:
- What is the process for conducting an asset management survey?
- How often should surveys be conducted?
- What information is included in a typical survey?
- How can asset management surveys be used to create a budget for repairs and maintenance?
- What are some common problems that are identified in asset management surveys?
- What steps can be taken to prevent damage to assets?
- What is the insurance coverage for assets?
By asking these questions, you will gain a better understanding of how asset management surveys work and how they can benefit your organisation.
Importance of asset management
Helps identify and manage risks
Asset surveys are important for keeping a business’ property in good condition. By regularly surveying assets, we can identify problems early and take steps to prevent further damage. Additionally, asset management surveys can be used to create a record of a business’ property in the event of theft or natural disaster.
Provides a reliable account of all assets
Asset management provides a reliable account of all assets by conducting regular surveys and maintaining accurate records. This information can be used to create a budget for repairs and maintenance and insurance coverage.
How to develop a strategic asset management plan
Compute life-cycle costs
One of the first steps in developing asset management strategies is to compute the life-cycle costs of your assets. Life-cycle cost is the total cost of owning and operating an asset over its entire lifespan. This includes the purchase price, repair and maintenance costs, growth costs, investment costs, and disposal costs. By computing the life-cycle costs of your assets, you will be able to make informed decisions about which assets to keep and which to replace.
Set levels of service
The next step in developing a strategic asset plan is to set levels of service. Levels of service are the standards that an organisation sets for its assets. These standards can include factors such as reliability, availability, and maintainability. By setting levels of service, you will be able to identify which assets need to be replaced and which can continue to be used.
Complete an asset inventory report
An asset inventory is a list of all the assets that an organisation owns. This includes information on each asset’s location, condition, and value. Analysing your asset inventory can identify which assets are most important to your organisation and which ones can be replaced.
Long-term financial planning
Long-term financial planning is a critical component of any asset management strategy. You need to ensure that your assets are properly maintained and that you are getting the most out of them. An asset management survey carries out the necessary research, so you can access all the details and information.
Contact our commercial property surveyors in Manchester today.