THE ROLE OF ASSET MANAGEMENT IN FACILITIES MANAGEMENT

Abstract

Asset management has become more important and popular with more companies outsourcing the management of their assets to a professional company. The functions of asset management are mainly related to the utilization of investment funds and property and other assets that concern capital and monetary issues. Likewise, facility management is becoming more important among building owners who are getting more concerned with the maintenance of their building and facility. More building owners also outsource to professionals to assist them in the management of their buildings.

In the recent years, there is a growing trend in integration of the functions of asset management and facility management which has become more prominent in the industry because of the great similarities in functions. This dissertation attempts to examine the views of industry players and the public about this growing perception.

A literature review of the scope and functions of asset management and facility management was first undertaken. A field survey was then carried out among the industry players, related industry players and the public not in the industry on their views of different functions of asset and facility management. The purpose is to determine the potential for integration of these functions.

The results of the survey show that there are significant differences and importance between the functions of asset and facility management. While there is a potential for integration, based on the current situation, full integration is unlikely to occur.