{"id":1925,"date":"2020-08-20T17:20:59","date_gmt":"2020-08-20T11:50:59","guid":{"rendered":"https:\/\/blog.isocietymanager.com\/?post_type=ufaq&#038;p=1925"},"modified":"2023-08-08T15:20:54","modified_gmt":"2023-08-08T09:50:54","slug":"what-is-facility-asset-management","status":"publish","type":"ufaq","link":"https:\/\/factech.ai\/blog\/ufaqs\/what-is-facility-asset-management\/","title":{"rendered":"What is facility asset management?"},"content":{"rendered":"<div  class=\"ewd-ufaq-faq-list ewd-ufaq-page-type-load_more ewd-ufaq-category-tabs- ewd-ufaq-faq-category-title-accordion\" id='ewd-ufaq-faq-list'>\n\n\t<input type='hidden' name='show_on_load' value='' id='ewd-ufaq-show-on-load' \/>\n<input type='hidden' name='include_category' value='' id='ewd-ufaq-include-category' \/>\n<input type='hidden' name='exclude_category' value='' id='ewd-ufaq-exclude-category' \/>\n<input type='hidden' name='orderby' value='date' id='ewd-ufaq-orderby' \/>\n<input type='hidden' name='order' value='desc' id='ewd-ufaq-order' \/>\n<input type='hidden' name='post_count' value='-1' id='ewd-ufaq-post-count' \/>\n<input type='hidden' name='current_url' value='\/blog\/wp-json\/wp\/v2\/ufaq\/1925' id='ewd-ufaq-current-url' \/>\n\t\n\t\n\t<div class='ewd-ufaq-faqs'>\n\n\t\t<div  class=\"ewd-ufaq-faq-div ewd-ufaq-faq-column-count-one ewd-ufaq-faq-responsive-columns- ewd-ufaq-faq-display-style-default\" id='ewd-ufaq-post-1925-6sukqZrUOb' data-post_id='1925'>\n\n\t\t\n\t<div class='ewd-ufaq-faq-title '>\n\t\n\t<a class='ewd-ufaq-post-margin'  href='https:\/\/factech.ai\/blog\/ufaqs\/what-is-facility-asset-management\/' >\n\n\t\t<div class='ewd-ufaq-post-margin-symbol ewd-ufaq-square'>\n\t\t\t<span >A<\/span>\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-faq-title-text'>\n\n\t\t\t<h4>\n\t\t\t\tWhat is facility asset management?\t\t\t<\/h4>\n\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-clear'><\/div>\n\n\t<\/a>\n\t\n<\/div>\n\t\n\t<div class='ewd-ufaq-faq-body' >\n\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-post-margin ewd-ufaq-faq-post'>\n\t<h1>Facility Asset Management<\/h1>\n<p><span style=\"font-size: 17px\">As per Wikipedia <b>Facility management<\/b>\u00a0(or\u00a0<b>facilities management<\/b>\u00a0or\u00a0<b>FM<\/b>) is a professional management discipline focused on the efficient and effective delivery of\u00a0support services for the organizations that it serves.<\/span><\/p>\n<p><span style=\"font-size: 17px\">To provide support services to any property and building <a href=\"https:\/\/factech.ai\/blog\/how-fm-tech-is-transforming-facility-management\/\" target=\"_blank\" rel=\"noopener\">Facility Manager<\/a> maintain different assets like &#8211; DG, STP, Lift, etc. Planning &amp; Controlling of all the assets of the property comes under <a href=\"https:\/\/factech.ai\/asset-life-cycle-management\">Asset Management<\/a>.<\/span><\/p>\n<p><span style=\"font-size: 17px\">Asset management is the planned alignment of physical assets with service demand. It is achieved by the systematic management of all decision-making processes taken throughout the life of the asset.<\/span><\/p>\n<p><a href=\"https:\/\/factech.ai\/blog\/asset-maintenance-and-management-system\/asset-management-9-step-process\/\" rel=\"attachment wp-att-2658\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2658 size-full\" src=\"https:\/\/factech.ai\/blog\/wp-content\/uploads\/2021\/04\/asset-management-9-step-process.png\" alt=\"Asset life cycle management 9 step process\" width=\"1852\" height=\"1078\" srcset=\"https:\/\/factech.ai\/blog\/wp-content\/uploads\/2021\/04\/asset-management-9-step-process.png 1852w, https:\/\/factech.ai\/blog\/wp-content\/uploads\/2021\/04\/asset-management-9-step-process-300x175.png 300w, https:\/\/factech.ai\/blog\/wp-content\/uploads\/2021\/04\/asset-management-9-step-process-1024x596.png 1024w, https:\/\/factech.ai\/blog\/wp-content\/uploads\/2021\/04\/asset-management-9-step-process-768x447.png 768w, https:\/\/factech.ai\/blog\/wp-content\/uploads\/2021\/04\/asset-management-9-step-process-1536x894.png 1536w\" sizes=\"auto, (max-width: 1852px) 100vw, 1852px\" \/><\/a><\/p>\n<h2><strong>Asset Management Software help in:<\/strong><\/h2>\n<ul>\n<li><span style=\"font-size: 14pt\">Know your assets<\/span><\/li>\n<li><span style=\"font-size: 14pt\">Know your financial situation<\/span><\/li>\n<li><span style=\"font-size: 14pt\">Understand decision making<\/span><\/li>\n<li><span style=\"font-size: 14pt\">Manage your Asset Life Cycle<\/span><\/li>\n<li><span style=\"font-size: 14pt\">Know the rules<\/span><\/li>\n<li><span style=\"font-size: 14pt\">Sustainable Monitoring<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px\">Each one of the above can further be described.<\/span><\/p>\n<h2><strong>Know your Assets<\/strong><\/h2>\n<h3><strong>Basic Asset Inventory<\/strong><\/h3>\n<ul>\n<li><span style=\"font-size: 16px\">a) Asset Type<\/span><\/li>\n<li><span style=\"font-size: 16px\">b) Location<\/span><\/li>\n<li><span style=\"font-size: 16px\">c) Quantity &amp; Size<\/span><\/li>\n<li><span style=\"font-size: 16px\">d) Material<\/span><\/li>\n<li><span style=\"font-size: 16px\">e) Useful Life<\/span><\/li>\n<li><span style=\"font-size: 16px\">f) Install Date &amp; Age<\/span><\/li>\n<li><span style=\"font-size: 16px\">g) Remaining Life<\/span><\/li>\n<\/ul>\n<\/div>\n\t\t\n\t\t\t<div class='ewd-ufaq-faq-custom-fields'>\n\n\t\n<\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-permalink'>\n\t\n\t<a href='https:\/\/factech.ai\/blog\/ufaqs\/what-is-facility-asset-management\/'>\n\t\t\n\t\tPermalink\t\t <div class='ewd-ufaq-permalink-image'><\/div> \t\n\t<\/a>\n\n<\/div>\n\t\t\n\t\t\t\t<div id=\"respond\" class=\"comment-respond\">\n\t\t<h3 id=\"reply-title\" class=\"comment-reply-title\">Leave a Reply <small><a rel=\"nofollow\" id=\"cancel-comment-reply-link\" href=\"\/blog\/wp-json\/wp\/v2\/ufaq\/1925#respond\" style=\"display:none;\">Cancel reply<\/a><\/small><\/h3><p class=\"must-log-in\">You must be <a href=\"https:\/\/factech.ai\/blog\/wp-login.php?redirect_to=https%3A%2F%2Ffactech.ai%2Fblog%2Fufaqs%2Fwhat-is-facility-asset-management%2F\">logged in<\/a> to post a comment.<\/p>\t<\/div><!-- #respond -->\n\t\n\t\t\n\t\t\t<div class='ewd-ufaq-back-to-top'>\n\t\n\t<a class='ewd-ufaq-back-to-top-link'>\n\t\tBack to Top\t<\/a>\n\n<\/div>\n\t\t\n\t<\/div>\n\n<\/div>\n\t<\/div>\n\n\t\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A What is facility asset management? Facility Asset Management As per Wikipedia Facility management\u00a0(or\u00a0facilities management\u00a0or\u00a0FM) is a professional management discipline focused on the efficient and effective delivery of\u00a0support services for the organizations that it serves. To provide support services to any property and building Facility Manager maintain different assets like &#8211; DG, STP, Lift, etc.<\/p>\n","protected":false},"author":4,"featured_media":2658,"comment_status":"open","ping_status":"closed","template":"","ufaq-category":[485],"ufaq-tag":[802,804,803,805,798,799,800,801],"ufaq_folder":[],"class_list":["post-1925","ufaq","type-ufaq","status-publish","has-post-thumbnail","hentry","ufaq-category-asset-management","ufaq-tag-dg-maintenance","ufaq-tag-know-your-assets","ufaq-tag-lift-stp-panel-management","ufaq-tag-what-is-asset-inventory","ufaq-tag-what-is-asset-management","ufaq-tag-what-is-asset-management-software","ufaq-tag-why-asset-management","ufaq-tag-why-asset-management-application"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is facility asset management?<\/title>\n<meta name=\"description\" content=\"Facility 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