The contribution effective built asset management makes to the overall performance of any business or other organisation is taking greater precedence and appreciation by estate owners and operators. Whether driven by the need to be leaner and more efficient in response to the recent economic downturn, or simply as on-going good commercial sense, the focus on optimising use of available assets highlights the value professional asset and facilities managers can bring to any organisation.
Defining "estate management" in a nutshell can be extremely difficult due to the wide variety of services and broad range of circumstances to which this can be applied. However, some of the key operating and management decisions asset management professionals can support any organisation with are succinctly outlined in the excellent article extract below:
Real estate (RE) and facilities management (FM) professionals will be faced with a whole host of operational decisions every day, but more and more strategic choices that drive the business's overall objectives require data to support decision making. Specifically, the key decisions in FM and RE are as follows. How does the asset base support the business's objectives? What is the return on investment (RoI) from the asset base? How big does the asset base need to be to support business functions? What are the big risks for the asset base and how likely are they to happen? When do the cost, performance and risks of the asset outweigh its value? What investments need to be made to mitigate risks? When are acquisition and disposal decisions required? Where should new assets be based?
