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Using asset registers to power better planned preventative maintenance across longer asset lifespans

Do you know what’s in your buildings? We talk to Peter Brown, Director of Technical Services about complex portfolios, and how asset registers make the difference between well-oiled machines and ticking timebombs.

Many experienced asset, property, or facilities managers come to see their buildings as organic, living things. Equipment comes and goes. Redevelopment brings changes to structure and layout. Over time, it gets harder to know exactly what’s been where since when.

Precise knowledge of the equipment and technology in your buildings enables better maintenance practices and extends assets’ lifespans. That knowledge can be gained more easily by taking a fresh look at your approach to asset registers.

What is an asset register?

In the first instance, an asset register is a list of all the fixed assets within a building, or portfolio of buildings. Think hardware like water tanks and air conditioning units, potentially right down to smaller elements like window restrictors.

Using this register, it’s possible to get an overview of the age and condition of everything inside the building. At a glance, you can see when everything was last serviced, and when it’ll need servicing next.

From there, managing agents can create more efficient planned preventative maintenance (PPM) schedules that still satisfy professional standards like SFG20. Using a red-amber-green-light system, works can be prioritised to spread budget over time and avoid duplicated effort.

Why should buildings keep updated asset registers?

For large organisations who use third parties for maintenance across whole portfolios, asset registers provide certainty and clarity. Visiting third parties might not know a building intimately, some assets might go unnoticed and slip out of PPM schedules over time.

If this happens, managing agents can, at best, expect a surprise repair bill when something breaks. At worst, they leave themselves open to prosecution and litigation.

Asset registers can also help create PPM plans at varying levels of depth. Meeting full SFG20 standards is a time-consuming and resource-intensive job for many portfolios. A more workable solution might be to divide available resources and manpower across a PPM schedule. This keeps buildings compliant without committing excess budget.

Creating an asset register and using it to set realistic maintenance schedules will ultimately prolong the lifespan of that asset. Knowing exactly when to carry out routine and deeper-level maintenance keeps things in operational condition longer, while reducing repair costs.

The latest best practice in asset registry

It’s possible to create and distribute asset registers via traditional electronic media like excel spreadsheets. But increasingly, cloud-based digital solutions are helping managers do more with their information.

Digitising asset registers lets you visualise things more easily, and calculate outcomes more exactly. You can spot, for example, when budget is being wasted on heating unoccupied areas of a building. That also has positive ramifications for CO2 emissions and energy use.

Hardware lifespans, maintenance schedules, and budgets can all be worked out with a greater degree of accuracy. Typically, digitising the process means fewer nasty surprises for managing agents.

Why partner with NIFES to create your asset register?

Our team was put together to handle asset-specific jobs like creating registers. We’ve got the reputation and successful track record to instil confidence in those we work with.

Across healthcare, education, retail, and manufacturing, our people have a broad base of experience and knowledge. That lets us tailor our output to your needs and create a report that properly articulates the value in your building.

You’ll be working with hand-picked professionals who take a proactive approach to our relationship. As your portfolio grows, we can keep adding the same kind of value long-term. This includes paying attention to new legislation on your behalf, so you’re always on the right side of the law.

Get in touch and find out why major hospitals and universities trust NIFES for total oversight across complex portfolios.

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