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Assets Management, Space Management and Facility Management

Subject: Marketing Channel Management

Paper Model: APA

Paper Type: Business Plan

Total Words: 526

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Assets Management 
Space Management 
Facility Management
References
 


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Assets Management 

Asset management is a method and style of management thinking and conceptual framework for infrastructure paradigm. Asset management is necessary due to over use of assets owing to increasing stress on assets. Asset management is a combination of many quality elements such as organizational issues, information system, life cycle process, data and knowledge, issue of people and commercial tactics. Assets management is very important and it offers many benefits, as described hereunder.

  • System performance is affected if an organization fails in managing of its assets.
  • In the case of effective assets management, there will be a sustainable performance of the system which will produce more benefits and revenue for the organization.
  • One of the most benefits of asset management is that it is helpful in reducing extra cost in the organization. The best example of asset management for cost reduction is lean manufacturing.
  • The failure in the asset management creates obstacles by increasing cost and customers are not willing to pay extra cent for any product (McGroarty, 2014).

Space Management 

The management of physical space of any organization is known as space management. Organizations of today’s world are managing their spaces with a pen or paper of by using automated space management system. Space management contains maintaining and tracking with occupancy information. There are many benefits to organization for effective and efficient space management that are being discussed below.

  • Space management reduces occupancy costs of the organizations through entire portfolio as due to visibility and occupancy data effective decisions can be made for space portfolio so overall portfolio cost will reduce.
  • With the help of space management, companies are able to make the most use of their existing space as with space management they can identify the vacant spaces to re-purpose it. With space management, organizations save extra cost of leasing new spaces or constructing new building for space(Jackson, 2013).

Facility Management

Facility management is a technique and profession that comprise of many disciplines for making sure the functionality of created environment through integration place, people, technology and processes. There are certain benefits of facility management, which are;

  • Cost saving is the foremost benefit of facility management as land and buildings are among the largest expenses of any business but through outsourcing facility management services, a business can save much money.
  • Through outsourcing facility management services, a company can hire the services of experts of the industry as outsourcing companies hire the hire experts with necessary equipments and systems for the provision of good facilities to their customers.

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