Asset and Facility Management – Spot the Difference.

 

Article FM│ Linkedin

Publicado por FAMASE el 23/09/2015 (ENG)




Asset Management has many roles and faces today. In modern business world, some are fascinated by its proliferation and complexity, similar to the admiration of a multitalented artist, who is all-in-one screenwriter, director and producer of the latest blockbuster. There are also others, who view modern Asset Management as the mythical Hydra that has spread all over and hijacked various management disciplines. Then, there are some clients and users who are ... puzzled.



The evolution of Asset Management (AM), Facility Management (FM) and Property Management (PM) throughout the past few decades has led to significant integration of their professional functions and sharing of business concepts. A concise comparison of AM vs. FM current identity will be useful to end users or clients of asset management services, as well as to professionals managing multiple physical assets and interested in integrating real estate, infrastructure, technology and people.



There are three major factors that determine differences between AM and FM:




The asset category to be managed;



The organizational/corporate goals of the asset's Investor/Owner;



The assigned scope of responsibility.



First, let’s underline that this analysis does not explore financial sector’s wealth and financial assets management on behalf of their owner.



Second, non-financial assets in any enterprise could be classified in two major categories according to their purpose of use:




Assets that are used to carry out primary business functions (real estate, infrastructure networks, production machinery and equipment, plant facilities, tools, etc.) They are within the scope of responsibility of AM.



Assets that are used in support business functions (buildings, infrastructure, vehicles, workplace facilities, mobile devices, IT equipment etc.) They are within the scope of responsibility of AM and FM.



Once the playground is set up, let us focus at the concise comparison between AM and PM.



Differences Asset Manager (of Physical Assets)




For the Asset Manager leading objectives are maximum Return on Assets and high Asset Utilization (rate)



Asset Manager’s scope of work are all assets utilized by both primary business and support business functions of company/organization



Asset Manager's priority is to improve maintenance effectiveness and efficiency and optimize equipment reliability as per Investor’s production/primary business targets



Asset Manager is focused on achieving Investor’s profitability objectives while minimizing assets' capital expenditures (CAPEX)



Corporate social responsibility activities are out of AM's scope of work



Facility Manager



For the Facility Manager the leading objective is optimal work environment



Facility Manager’s scope of work are all assets which support the primary business operation of a company/organization



Facility Manager's priority is to improve the User‘s primary business productivity and efficiency




Facility Manager is focused on End User/Occupier workplace needs and demands while optimizing operational (OPEX) and capital expenditures (CAPEX)



Most of corporate social responsibility initiatives are managed by FM.../...



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