What is Facility Site Asset Management?

What is Facility Site Asset Management?  

Facility-Site Asset Management is the process of overseeing and maintaining a building’s physical assets to optimize their performance, lifespan, and value. CR-BPS partners with companies, non-profits, educational entities, and municipalities for their facilities and the lifecycle of renovations and operational management. Facility-Site Asset Management encompasses a wide range of activities and responsibilities.   The ultimate goal of Facility Site Asset Management (FSAM) is to have a plan for your space.   That’s why the primary purpose of FSAM services is CIP services (Capital Improvement Planning). This includes, but is not limited to:  
  1. Asset Inventory: Keeping a comprehensive inventory of all physical assets, such as equipment, machinery, furniture, and all systems within a facility. 
  2. Performance Monitoring: Tracking the performance of assets through metrics and KPIs (Key Performance Indicators) to identify inefficiencies or areas for improvement. 
  3. Lifecycle Management: Analyzing the lifecycle of assets, from acquisition and operation to maintenance and eventual replacement, to make informed decisions about upgrades or disposals. 
  4. Cost Management: Monitoring and controlling costs associated with asset maintenance, repairs, and replacements to optimize budget allocation. 
  5. Regulatory Compliance: Ensuring that all assets meet relevant safety, health, and environmental regulations. 
  6. Space Management: Efficiently managing the use of space within the facility, including layout optimization and the allocation of resources. 
  7. Sustainability Initiatives: Implementing strategies to reduce energy consumption and environmental impact, often integrating green building practices. 
  8. User Engagement: Involving occupants and stakeholders in decision-making processes to ensure that the facilities meet their needs and enhance their experience. 
  9. Technology Integration: Building management software brings continuity and clarity to an operation. 360° imaging and 3D modeling help drive long-term facility management and renovation strategies. Asset management software helps to manage and predict costs. The summary: the right asset management tech will help you create the right asset management strategy.  
With a plan in place, leadership is able to make informed decisions for their spaces with a roadmap in front of them. The factors that matter with Facility Site Asset Management are based in the Facility Condition Index (or FCI). This index provides the framework for comparing costs of repairs to the costs of replacing the facility, and various factors are included:  
  • Structural: Structural integrity, signs of damage, and potential safety hazards in the foundation, framing, roofing, and exterior walls. 
  • Mechanical: Performance, efficiency, and condition of heating, ventilation, and air conditioning (HVAC) systems. 
  • Electrical: Outdated components, code violations, and energy inefficiencies related to wiring, panels, lighting, and other electrical components. 
  • Plumbing: Leaks, corrosion, and compliance with health and safety standards regarding the water supply, drainage, and sewage systems. 
  • Finishes: Wear and tear, visible damage, and aesthetic concerns with floors, walls, ceilings, windows, doors, and other finishes. 
  • Accessibility: Hazards associated with fire protection systems, emergency exits, accessibility features for individuals with disabilities, and compliance with safety regulations. 
Wondering if CR-BPS should join your team? Project planning and operational management require a team, and that team needs leadership.  

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