An asset register gives you an accurate, up-to-date snapshot of what’s really in your buildings. But as Reiss Livesey, M&E Assets Lead, explains, that’s only the start of the potential long-term value.
For many organisations, asset registers are simply lists or inventories of the fixed items they own, often created out of a sense of obligation. Property managers want to know what their buildings contain, so they can ensure safety and avoid legal penalties, by maintaining everything properly.
Whilst complying with safety obligations is imperative, there’s so much more value and efficiency potential when the data from an asset register is used proactively, to extend the lifespan of your buildings and everything inside them. Here’s how.
First, what’s an asset register?
A list of fixed assets contained in either a single building or a whole property portfolio. That’s what we mean when we talk about an asset register. Oakleaf and surveying companies like us audit your properties to create a comprehensive list.
It’s important to get clarity from day one on exactly what your asset register is going to cover. A good consultant will work with you to tailor its scope towards your actual compliance and maintenance needs. There’s no use spending budget on recording overly granular data that serves no purpose to your business needs.
Once you’ve been provided with your asset register, you’ll understand the physical state of your portfolio. You can schedule planned preventative maintenance (PPM) more effectively by triaging necessary works.
Squeezing maximum value from your asset register
So, you’ve commissioned your asset register and used it to address those critical maintenance priorities. This is just the start of the benefits you’ll see from the data, especially when the data is used with a computer-aided facilities management (CAFM) system, which is something I always recommend.
Once the data is digitalised, it becomes easy to track and update. That comes with some key benefits:
- Visualising data over time allows you to spot where budget is being wasted.
- Tracking the lifespan of hardware (and even individual components) lets you replace before it breaks, minimising downtime.
- You can tender maintenance contracts with greater confidence because you know exactly what needs maintaining and when.
- Maintenance teams working in unfamiliar buildings can get an accurate, comprehensive report of what’s on site. Nothing gets missed out.
- Budget and labour can be spread out over time, ensuring SFG20 compliance without short-term overspending.
All this combines to cut costs, reduce downtime, and give you greater control over your PPM scheduling.
Overcoming the biggest asset register challenges
The right approach to creating asset registers is a collaborative one. There’s often an element of coaching involved, to build the asset register towards a clear purpose.
Part of our job involves acting as an objective, expert, fresh set of eyes. What is the client actually trying to achieve? What data do they need to capture to meet that goal? Having these conversations early on can save you considerable time and budget.
Get the full picture of your portfolio with Oakleaf
Oakleaf, powered by Bellrock Consulting, help managers plan and create comprehensive asset registers for even the biggest, most complicated portfolios. Count on us to guide you past the pitfalls and help you use your register to extend the lifespan of your assets.
Our specialist asset register team has years of experience with different property types across multiple industries. We know what questions to ask you to know what data to capture to inform better PPM across your whole portfolio. And using CAFM systems, such as Bellrock’s Concerto, information can be leveraged effectively.
All this is delivered with a focus on a meaningful long-term partnership. As your buildings evolve and legislation changes, our support scales and tailors to your current requirements. The result: data-driven alignment between frontline services and organisational objectives.
Get in touch with our team to find out how we can help you draw up comprehensive asset registers for your estate.
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