Facility Asset Management
Facility asset management is the coordinated control of building systems, infrastructure, utilities, contracts, condition, cost, and lifecycle decisions.
What this term means in maintenance
Facility asset management is the coordinated control of building systems, infrastructure, utilities, contracts, condition, cost, and lifecycle decisions.
Assets covered
Facility asset management may include:
- HVAC
- Electrical systems
- Fire protection
- Lifts
- Water systems
- Buildings
- Roofs
- Roads
- Drainage
- Security systems
- Utilities
Practical example
A facility manager reviews chiller reliability, energy consumption, repair cost, contract coverage, remaining life, and replacement options.
Information required
Useful information includes asset identity, location, hierarchy, condition, criticality, work history, contract, warranty, cost, inspection, and compliance.
Lifecycle decisions
The objective is not only to complete maintenance but to decide when to repair, upgrade, replace, consolidate, or retire assets.
Common mistake
Managing building assets only as expense categories prevents equipment-level history and lifecycle analysis.
Related concepts
Related maintenance terms
Keep exploring connected CMMS, reliability, and maintenance planning terms.
Facility Maintenance
Facility maintenance is the planned and reactive work required to keep buildings, utilities, infrastructure, safety systems, and shared services operational.
Asset Lifecycle Management
Asset lifecycle management is the coordinated management of an asset from need and acquisition through operation, maintenance, improvement, renewal, and disposal.
ISO 55000 Asset Management
ISO 55000 asset management refers to the principles and management-system approach used to realize value from assets while balancing performance, risk, cost, and opportunity.
Glossary FAQs
- What assets are included in facility asset management?
HVAC, electrical, fire, lifts, buildings, water, roads, drainage, and security systems.
- What decisions does it support?
Repair, upgrade, replacement, contract, risk, and lifecycle decisions.
- What data is required?
Asset identity, condition, history, criticality, cost, contract, inspection, and compliance.