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12-08-2022 FM4.16: Understanding Property and Asset Management for Facilities Managers
FM4.16: Understanding Property and Asset Management for Facilities Managers
Although moving towards the question of assignment in unit FM4.16: Understanding property and asset management for facilities managers, it’s crucial to understand the conception of property and asset management in the domain of the IWFM. Property and asset management refers to the monitoring and tracking of assets` financial value to record their depreciation and appreciation with time. The physical assets which associate day to day operations of the business are the whole relationship between property and asset management. Physical assets are divided into two types movable Assets and immovable assets.
Immovable assets refer to the utilities that include sewerage water and power Elevators lighting and fire alarms. Retail Industry and office units outside space are some examples of immovable assets.
Movable assets do not have any connection with immovable assets and it includes IT equipment, signage, printers, equipment, the uniform of employees, photocopiers, vehicles and machinery.
The people who deal with the issues of property and assets in facility management are known as property managers facility managers asset managers building managers or state managers. To manage property and assets the role of property and set manager is very essential. The main goal of a property and asset manager is to provide value by enhancing assets in the business. Moreover, it is the responsibility of an organisation to provide a healthy and comfortable environment to their employees for that purpose facility management has to cope with the area of asset management.
Plan asset maintenance and building accountability services which include cleaning parking and security is another responsibility of the property asset manager. Furthermore, carrying out the analysis reporting and assessment of risk assets is also included in the job role of the property manager. A business can get the benefit of up to 20% by fixing the issues and cost of assets and properties. Effective management of property and assets can help a business to identify flaws and inefficiencies. Following are some more benefits that a business can get from property and Asset Management.
History and service of work
A good operating cost understanding
Optimisation of workspace
Detailed monitoring of a set performance
Appropriate Record Keeping and tracking of assets
Unit FM4.16 aims to create awareness among learners about the roles and responsibilities of property and assets managers in business organisations. Moreover, to check the learning outcomes from learners there is an assignment criterion which covers the following topics and questions to cover.
To examine the lease property requirements
1.1 Elaborate the various categories of leases and different arrangements of contracts between tenants and landlords also include,
Prepared purchase leases
1.2 Elaborate on how the leases are administrated and created without adding extra guidance.
1.3 Recognise the main legislation that affects the use and ownership of Assets and property also includes the following terms of specific legislation for example,
CDM planning consent
Registration on the agreements of tenant and landlord and some other general legislation that includes the sex discrimination act, disability discrimination act, and race relation act.
1.4 elaborate the landlord and tenant`s obligation to each other and associate the description with the help of examples of obligations of the landlord for example,
structure repairing interior and exterior property
electrical and gas appliances safety
safety of furnishing and furniture from fire
Moreover, the obligations that need to follow by tenants include,
Care of property
Regular payment of rent
Regular paying of Council text and utility bills
Explain these lotions instead of explaining the list of unimportant materials.
2. Recognise the cost and charges of property
2.1 Elaborate the association of cost with owning or occupying the property and provide an outline of both revenue cost and capital.
2.2 Elaborate on the ways to manage associate charges cost and property taxes add the report of finance and implication of text in terms of leasing and ownership.
3. Recognise the ways to manage and setup the property registers and how to fix assets
3.1 Elaborate the reasons principles and costs that include maintenance and set of property and fix register assets including legislative compliance financial compilers and maintenance.
3.2 Elaborated technology which can be utilised for helping in managing as well as the assistance of property register. Add the available Technology ranges from the spreadsheet package of CAFM.
3.3 Elaborate the information that is a ten from the property as well as fixing of a set register and also describe the ways that are utilised to provide benefits by management. Demonstrate the elaboration with the help of examples from the learners on experience and case study, instead of trying to develop a list that is exhausted.
4. Recognise the factors that include in the relocation of property
4.1 Elaborate on the various factors which are involved in the relocation of property to fulfil the requirements of the business. Associate the description with the help of examples from the experience of learners as well as their case studies these examples include,
Hand over procedures
Social and corporate responsibility
Novation of contracts
Add these examples instead of developing a list of exhaustive materials.
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The topics and questions asked in the unit FM4.16: Understanding property and asset management for facilities managers required detailed, structural, and well-researched answers. In addition, the assignment criteria of the topics given above, explicitly ask for the examples that the learners have monitored in their experiences as well as case study. Therefore, the scenario of making assignments on the given unit doesn’t remain acquirable and easier for the learners. The reason behind this convolution is a lack of experience in facing issues and scenarios regarding property and asset management among students. As most of a student’s life spends at academic institutions where they could not do employment. Although the people who spend time at the workplace can easily analyse the tribulations, and consequences of property and assets.
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