Asset and Property Management Software
Real Property usually includes land and everything permanently attached to it, such as houses, their built systems, construction equipment, which can include roads, car parks, walls, drainage networks, utilities, etc. Real Property Inventory (REPI) is a record of the real estate assets (land, house, or structure) of an entity. Asset and Property Management System (APMS) is a system for storing and maintaining an inventory of real property. APMS provides data to monitor those assets and satisfy the criteria of asset tracking and reporting. APMS includes the details required to prepare facilities budgets, make facilities maintenance decisions, identify repair costs, identify penalty costs , and enhance the organization-wide management of real property expenditure. The details that the APMS system offers can help in the planning, programming and budgeting processes. Usually, REPI and APMS are at the macro level of an installation dealing with the overall building, land or structure. Initiate an Integrated cycle of concept development.
Asset Risk Management
Assets are the foundation for every company doing what it seeks to do, and the benefit derived from them. It is good asset management that maximizes value-for-money and stakeholder satisfaction desires, whether public or private, and whether the assets are physical, political, human, or ‘intangible.’ This includes organized and structured planning, collection of properties, acquisition / development, usage, care (maintenance), and the eventual disposal or replacement of the appropriate properties and asset systems.
Since the 1990s, insights into the integration and optimisation of asset management (from the North Sea oil and gas industry and from the Australian public sector) have been developed to define a number of key business processes, coordination practices, and system integration features that produce very significant performance benefits. Federal APMS imposes strict criteria on Federal Real Property owners to recognize and categorize all real estate purchased, rented, or otherwise operated by the government. Executive Order 13327, signed in 2004, underlines the value of APMS for the overall performance of any company with a Real Property portfolio. During the past, real estate documents were stored during file cabinets for ready reference inside files and consisted of a list of properties, their value, and other minimal information. Because the Total Cost of Ownership (TCO) management criteria within an enterprise have become more important with increasing expenses and reducing budgets, demand for accurate real estate data has increased. APMS managers need to support ever-increasing requests for real property information in their portfolio, particularly because information requests are not limited to data-building as in the past. Knowledge demands include infrastructure, building programs, services, energy usage, Usage of space, compliance with codes, and environmental sustainability.
Powerful databases changed Facility Managers ‘position to Facility Resource Managers’. They provide corporate decision-makers with accurate data and auditable Key Performance Indicators ( KPIs) about the real estate and components supporting the facility or infrastructure asset ‘s task or activities. While APMS implementation can be separate from the production and management of REPI records or a Computer-Aided Facility Management (CAFM) program, it should be combined or connected to prevent duplication of effort to build and maintain data for corporate use as well. Linking Computerized Maintenance Management Systems (CMMS) databases to both the REPI and APMS databases will create a complex mechanism that at least once gathers useful organizational data at its acquisition expense, then uses it time and again. The expanded use of REPIs has become an integral aspect of asset management within an enterprise.
Integrated Decision Making (IDM) is the method of evaluating the effect of the strategic plans of each department on the strategic plans of every other department within an organization. Information obtained during an energy audit, for example, may also include information to update a CMMS. Usually, an APMS software system translates historical information, as-built information and data on condition evaluation into accessible knowledge on management. The APMS software is most reproducible and auditable if it is based on the framework of the evolving Engineered Management System (EMS), but can be developed by a Knowledge-Based Framework (KBP). (The EMS process transforms objective real estate data into auditable KPI metrics based on actuarial tables and constructed curves of deterioration.) KBP programs rely on data collector discretion or experience to include the KPI metrics.
The value of accurate data collection can not be overstated. Acceptance of reports produced by an APMS is directly related to the way its data is auditable. Facility managers collect historical, as-built information and assessed condition of all structures and components in a given facility or infrastructure asset while implementing an APMS. Much of the necessary data can be collected electronically from existing management systems relevant to the facility such as a CAFM program, CMMS, and/or an existing REPI database. Data Collection Devices (DCDs) are commonly used today, which automate the different aspects of information collection which description. Usually DCD-inherent software typically provides a mechanism that guarantees data accuracy, integrity, timeliness, and simple conversion into a database, log, or summary report. This data is then used for the creation of various KPI metrics for device components, such as Remaining Service Life (RSL), Current Replacement Value (CRV), and Condition Index ( CI). A System Condition Index (SCI) is generated using this data compilation. An Facility Condition Index (FCI) is generated using the SCI. Therefore, FCIs can be used to generate a Condition Index for the Site / Install / Campus.
One detailed method of data collection is 3-D, non-contact laser scanning for building interiors (room boundaries), and the building systems supporting a given facility. It technique is used to calculate and digitize items that are visible to the scanner as a “point cloud” for use in the development of CAD drawings and models. The scans record the location of all objects visible to the scanner, object size , form, shape and colour. Normally, several scans are needed to capture sufficient data on any given object to be able to interpolate what is hidden from view and fix its relative position within space. Then the scans are “registered,” and a cloud of points is produced.
The point cloud is the surface of all the scanner detects. Whether 2-D or 3-D models, the point cloud serves as the basis for CAD drawings. CAD technicians can use the point cloud software to create a CAD drawing software that delineates the walls , floors, ceilings and other scanned items. This must divide the components into their respective layers (see National CAD Standard), or families, which will then act as an inventory of rooms, furniture, pipework, ductwork, valves, junction boxes, or any other space-supporting infrastructure items. The resulting CAD models can be used in numerous ways including strategic planning, inventory of space, Renovation plans, or modeling of knowledge (BIM) development. BIM models can be implemented into many systems for the management of facilities such as CAFM, CMMS, APMS or REPI. Scan files created during the laser scanning process can be useful as a historic “snapshot” for future reference, and should be maintained along with the CAD drawings and BIM models in the facilities management programmes.
Analyzing Life Cycle (LCA)
APMS EMS related software programs can analyze and model the data obtained against its actuarial and deterioration curve database. The study, in support of LCA, offers objective performance indicators to evaluate each component’s present condition as to its remaining economic existence. To assess the present state, the knowledge-based approach uses a set of parameters defined by the data collector or may use a ratio such as the estimated cost to fix over the estimated cost to restore the Facility State Index (FCI). The APMS database can be modified through a connection or integration with existing work-management procedures such as a CMMS or CAFM application, and the REPI databases such as upgrades, replacements or additional acquisitions. Such integration will provide a complex perspective of the overall inventory and the current status of any infrastructure or facility / component.
APMS determines the cost of repair and replacement options by modeling existing as-built plans and conditions against a mature costing database or by connecting to databases for commercial costing. As these costs act as the basis for the optimization plan and an interpretation of “what-if,” the reliability of the cost estimates is important. Current costs are then monitored via the CMMS, and APMS updates its costing database to reflect evolving costs in creating new estimates.
Integrated decision-making by funding options optimisation
APMS can assess the impact of different scenarios on inventory and future ROI. It can play “what-if” in terms of the effect on the targeted KPI and define the return on each investment option. Using Analytical Hierarchical Process (AHP), which is a systematic methodology to help people cope with difficult decisions, allows different goals to be modeled and the effect each variable will have. It is the secret to maximizing restricted funds through the organization to achieve the optimal strategic outcomes. It makes it a necessity to incorporate an APMS system if an company wants to have true stewardship of the dollar invested and create a sustainable climate.
A software system for APMS produces usually the following reports:
- Remaining serviceability estimates (the infrastructure / facility / system / component)
- Specifications for capital and maintainance expenditure
- Cost estimates to rectify existing shortcomings
- Estimates of Production Cost
- Present cost of depleting assets
- Depleting asset rates
- Long-term budget forecasts
- Prioritized budgets for KPIs, focused on business strategies
- Price effect of care deferment (Business case)
- External conditions Stock
- Prioritized work orders based on circumstances and/or service life expectancy
An APMS software can help evaluate how funds should be allocated in the corporate budget to each real estate asset based on corporate strategies and variables provided. This forecasts these budgets based on both long-term and short-term needs and then allocates them to different “buckets” funding as necessary for organizational requirements.
Business Case for APMS process implementation
There is a need for integrated financial management of corporate facilities assets and a monitoring program that tracks those assets’ depletion. Hence managers, architects , engineers and builders need to be more conscious of APMS ‘s financial significance. Facility assets should be controlled to function for the facility or infrastructure project at the lowest cost and with the lowest risk. Opportunities for investment exist at various stages in the building systems life cycle. These strategic investments should be made, and the return on those investments should be calculated if there is to be a reasonable reduction in ownership costs. Many companies are shocked to discover how big the funds they have in their facilities at risk. By measuring replacement costs (including capital costs) and then dividing those costs by the actuarially calculated life of the system; an annualized replacement value will be generated. This interest is used to explain to the organization, by strategic repair of existing defects, the advantage of growing the life of a building system by a single year. This cost / benefit analysis makes budget demands complete with penalty costs for underfunding those conditions
Real Estate Inventory (REPI)
REPIs are best stored in electronic databases in today’s business setting, with accurate inventory records kept in paper files. The documents should include information of transactions involving the assets of the company and should be maintained as permanent records of each asset’s existence. The size of the REPI machine depends on the number of facilities and whether the company opts to manage the database. The database can be housed at a site / complex / campus or at a central location where the owning agency’s properties are solely stored. The inventory of an asset must contain details as defined by statute, Government laws, and/or the management of an enterprise. It will rely on the nature of the data and what criteria the organization has been put on, such as details to meet tax requirements, government legislation, management reports, operations and maintenance (O&M) considerations, and other requirements the organization may have.
Documentation and database of REPI should begin with the acquisition of the asset, whether by building, purchase, lease, donation, or some other procurement source. The REPI records will accompany project execution as the asset is handed over to the owner for O&M while under construction. If the REPI will start from other sources of procurement with the owners assuming O&M responsibility for the asset. In the REPI, the decision to join an asset or an upgrade to an asset is defined by the interest set by statute, government policy, or real property concept of the entity and the entity. This is then necessary to sustain the REPI for assets meeting the concept and value criteria put on the company for the life of the asset.
An organization’s REPI will provide comprehensive documents describing the product and its cost including initial purchase and enhancements. All database details should include the unique name of the asset (usually a descriptive title), specific facility number or address, book value, facility type (may be a classification code, or simply included in its descriptive title), capability and unit of measure (UOM). The content of the database would depend on the company and the management thereof. In addition , data may include asset position, current replacement value, building priority code, usage (may be a code) and status; Listing of the status and expected year of maintenance of essential building structures , new building or site upgrades and their costs, previous years O&M costs and, for government agencies, General Services Administration (GSA) Use Codes.
Price of Books (Cost)
An example of government implementation of a facility’s capitalized value (book value) is that it covers all expenses incurred in getting the facility to a complete and functional state. Costs for booking value can include:
- The sums charged, including commissions, to suppliers or contractors;
- Carrying payments to the point of initial use;
- Pays for the handling and storage;
- Labor and other direct or indirect manufacturing costs (for manufactured or built assets);
- Architecture, architectural and other external design , planning, requirements, and survey services;
- Cost of construction and planning of buildings and other installations;
- Appropriate share of the costs of building equipment and buildings, including depreciation (per FMM 9091-5c.);
- Fixed equipment and the related installation costs needed for the building or facility activities;
- The basic costs of reviewing, supervising and managing planning and procurement contracts, including civil service costs;
- Legal and compensation costs and requests for damages;
- Equal value of State funded services and equipment, and
- Product tax charges owed.
Such expenses should be reasonable in relation to the type of facility to maximize, which should be used as the book value of a new asset or applied to the book value of the facility in the case of an asset upgrade.
The initial REPI entry includes the book value with asset upgrades which follow the requirements of an organization being added to the book value as they occur. What is included in an asset’s book value may depend on private sector tax laws and management standards, and government legislation and financial reporting rules in government organizations.
A Capital Investment Project or Program (CIP) specifies the capital improvements. Capital improvements to an asset are modifications the cost of which is equal to or exceeds the value defined by the company or by law / regulation and 1) extends its useful life by two years or more or 2) extends or improves its capability or otherwise upgrades the asset to meet needs other than those originally planned or substantially greater than those. Capital investments will boost a facility’s book value.
Where a change occurs due to an increase in inventory, the asset’s book cost will be changed accordingly to exclude the original cost of substituted goods if the expense and replacement cost surpass the cost set by statute, policy, or entity. If just a Part of the property is being replaced and that element is not separately identified in the records of the estate, the original value of the replacement section will be calculated and the book value modified accordingly. The costs of replacement objects do not include recycling costs but only the expense of the original book.
Stop The REPI
The agency responsible for the REPI will establish protocols and procedures necessary to ensure that the organization complies with relevant laws , regulations and organizational policies. Such procedures must include assignment of responsibilities and provide appropriate checks to ensure that the REPI documents, including the database, are kept current. We will also ensure that regular physical inventories are conducted and that the documents are reconciled based on the inventories. The Federal Real Estate Council advises each department to name a senior real estate officer responsible for preserving accurate records for federal facilities Within REPI.
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