Asset Management

True Asset Management

In the broadest sense, asset management is a rigorous approach to the long-term management of assets to maximize their lifetime value and benefits to both owner and community. More specifically, asset management has two primary goals: to effectively manage assets and identify long-term capital investment, and to establish a baseline record whilst developing recommendations that address the demands of a changing future.

In the context of the built environment Onaek have a long history of providing asset management services for a wide range of property portfolios. Our depth of experience allows us to provide top down and bottom up solutions to both the day to day issues and the long term strategic issues common to the environment in which we all live and work.   The goal of maximising long-term asset value has a perfect synergy with the integrated sustainable approach we apply to all of our projects, bringing together all of the services we have to offer to reach the mantra of responsible, sustainable and cost effective property management—one of our firm’s core values.

Within the realms of asset management there are various levels of service Onaek can offer tailored to suit the needs and resources available to the client.

Regardless of the service option selected are all based on the same basic methodology of;

• Existing Condition Assessment
• Capital Needs Assessment
• Forward Maintenance Planning
• Ongoing assessment

Existing Condition Assessment

Identifies existing assets and prioritises deficiencies, in order to develop a set of strategies for building and infrastructure.  The assessment includes as required, visual assessment of building components, mechanical systems, interior spaces, site and grounds.  Additionally stakeholder input such as statutory compliance certification and existing maintenance records are collected from building users and building management and documented.  The final output provides a detailed inventory of all relevant building components, their quality, expected useful life, remaining useful life, and current replacement cost.

Capital Needs Assessment

Considers the deficiencies highlighted in the Condition Assessment against the future plans and aspirations of the client organisation.  Final recommendations are based on future requirement against the level of risk (whether this be Health and Safety or Business Risk) and the anticipated lifecycle costs, including operating costs, costs for maintenance deficiencies, and recommendations for correcting deficiencies.

Typically, the projections from the Capital Needs Assessments are provided in regular increments over an agreed term in line with the client organisations forward planning requirements. The projections include recommendation for prioritisation of identified backlog maintenance as well as prioritisation of key component upgrades and assumptions used for interest, inflation, tax and other outside factors as part of the financial analysis.

Forward Maintenance Planning

Forward Maintenance plans are developed based on the information gathered in the Condition Assessment and the outputs of the Capital Needs Assessment these plans also consider;

Statutory and industry best practice recommendations for energy-efficient strategies, technologies, and materials including requirements for energy-wise practices in day-to-day activities and operations.

Life-cycle cost analysis, including identification of potential incentives, to ascertain the true cost and benefits of proposed actions

Implementation of bespoke maintenance specifications and establishment of appropriate budgets to prolong the useful, cost effective lifespan of existing building stock.

Ongoing Assessment

Allows for the identification of possible early component failure and takes into consideration any changes in client organisation direction or strategies. Allowing pro-active changes to be made to the Forward Maintenance Plans minimises any risk or cost implications whilst maintaining the effective lifespan of existing building stock.

Based on the outputs of this methodology and an in-depth understanding of the client organisation, its goals and aspirations against its resource and requirements Onaek can provide the asset management solution that best suits the client needs.

These solutions are generally identified as;

• Total Facilities Management
• Maintenance Specification and Procurement
• Maintenance Specification
• Maintenance Monitoring and Auditing

Total Facilities Management (TFM)

TFM is where by all non-core business functions are contracted out leaving the client organisation totally focused on its core business, doing what it does best and not diluting effort looking after elements it does not necessarily have the in house skill sets to do so. TFM is generally contracted to a larger single source provider who has the resources to provide services such as maintenance, cleaning, catering, security, post room facilities etc. either via its own in house teams or by providing a management function controlling sub-contractors or by a combination of both.  Whilst Onaek does not provide a TFM role we can provide the expertise required to specify, procure and audit such contracts, ensuring that the client’s current needs and future requirements are met in a cost effective and controlled manner. Giving the client cost certainty over a predetermined contract period.

Maintenance Specification and Procurement

Where a client organisation has limited non-core resources available Onaek can provide the additional technical resource required to identify, specify and procure non-core services that cannot be covered in house. These services can be procured from individual specialist contractors with the management of these contacts undertaken by an in house management team. Again if required Onaek can provide a monitoring and auditing service to ensure that the contracts meet the client’s requirements in terms of cost and quality.

Maintenance Specification

Where a client organisation has an in house maintenance or Facilities Management team Onaek can provide the technical specifications needed to ensure all assets are maintained to the correct standards in line with current legislation. Again if required Onaek can provide a monitoring and auditing service to ensure that the specifications are adhered to and that the in house delivery meet the clients requirements in terms of cost and quality.

Maintenance Monitoring and Auditing

In addition to the above options Onaek can also provide its monitoring and auditing services to ongoing service and maintenance contracts, ensuring incumbent contractors are compliant to the existing contract terms and conditions also ensuring contract compliance with relevant legislation.