Asset Management

Asset Management is a process to support building owners to maximize the value of their asset by providing strategic and operational services.

The lifespan of a building and utilities are limited, and the building life cycle after the construction stage represents the highest cost for real estate owners. If we take into consideration a period of 25 years, it is estimated that the cost to operate, maintain, and repair a building is around 80% of the total cost of ownership.

This is illustrated in the following diagram:

Figure 2.5 – Total cost of ownership

The importance of Asset Management during the building life cycle is clear, yet the AECOO industry still has improvements to make in providing digital and structured data to integrate into Asset Management and operational processes.

Efficiency and productivity will increase if the data created during the design and construction stages are flawlessly transferred to the Asset...