In Action: Addressing Asset Management with VBIS
In the latest edition of IFMA’s (International Facility Management Association) FMJ magazine, TK Wang, VBIS discusses the current challenges in Asset Management and how VBIS is supporting new construction handover to operations processes, as well as digital transformation within existing property portfolios enabling the better utilization of new digital technologies for operational efficiencies and improvement.
Asset Management Challenges
VBIS helps FMs readily access asset information to make informed decisions to efficiently operate their facilities.
These challenges include:
Inconsistent asset classification
Project information handover
Accessing up-to-date information from multiple information sources (interoperability)
Data structuring to support technology adoption such as analytics and asset management systems/platforms
Communicating requirements to stakeholders and suppliers Challenges can be further exacerbated by facilities often employing several information applications or platforms, each catering to specific functions. Each application can contain components of information related to specific assets. This makes it difficult to quickly locate accurate information when it is needed leading to impacts on productivity, cost and risk.