What is Asset Management ?

 What is Asset Management ? 

• Asset management is defined as the coordinated activity of an organization to realize value from assets.
• The availability of appropriate and reliable information about assets is vital for effective asset management as it supports decision making, planning and execution of activities on assets.
• By providing a structured framework for the creation, collation and exchange of information about assets, BIM supports effective asset management.
• Thus, BIM must provide information covering the whole life cycle of assets.

Benefits of BIM in Asset Management are :-

• Reduced project start-up costs.
• Reduced construction and operational costs.
• Better life cycle management.
• Reduced management process costs.
• Greater clarity on long-term in-service performance expectations and the consequences of design-stage decisions over life cycle performance and cost.