Why understanding your property assets can save you time and money

The Facilities Management (FM) Services framework (RM1056) has been live for over two years now, and as we prepare to go to market for a replacement framework we wanted to share with you one of the biggest lessons that we have learned.

It’s really important that to support your future planning you have a full understanding of what property assets you own, what condition they are in and what is needed to keep them in optimum condition.  Our biggest lesson is the importance of holding an up to date asset register.

The benefits

An accurate, up-to date asset register will ensure that you will benefit from:

  • Accurate and up-to-date fixed asset data to help you with accounting, financial and other reporting and management decision making
  • Improved pricing from suppliers, as it will be based on more accurate data
  • Control over asset inventory and movement, as well as maintenance, from procurement/acquisition right through to disposal
  • Improved risk management
  • Better property lifecycle planning and full sight of future financial liabilities

Are you confident that you hold an accurate and up-to-date asset register?  If not, you may want to consider an asset survey, to identifying the actual assets you have in place and what requires maintaining. A survey will typically include all the mechanical, electrical and maintainable building fabric assets, so that maintenance plans can be developed. A condition survey can also be done to identify your current baseline performance against which future liabilities and maintenance regimes can be developed for inclusion in your next facilities management contract.

How we can help you

Lot 4 of our Estates Professional Services framework (RM3816) can help you develop your asset register with:

  • Asset verification and condition surveys including estimated replacement, maintenance timescales and financial analysis of current services

When you come to re-compete your FM contract, this framework can also help support you through the procurement process with:

  • Procurement strategy development, including a holistic view of property related requirements such as social value
  • Procurement and project management advice
  • Compiling asset information when preparing to run procurements
  • Managing the procurement process, including award recommendation and overseeing the contract mobilisation process

To find out more about how we can help you improve your FM contract, please visit the Estates Professional Services framework page.

Got a question about we can help you understand the true value of your assets? Please get in touch.