Facility Asset Management: Performance, Risk & Value

There is growing acceptance that professional and technical silos in the built environment continue to hinder the achievement of optimal performance and value realization for owners, operators, owner-operators, and major tenants. This ground-breaking book defines the core principles of facility asset management, providing a comprehensive guide to an integrated approach that moves beyond disparate management practices to maximize the value of all organizational assets. In today's dynamic business environment, breaking down departmental silos is crucial for success, and this book shows how to achieve integration of processes, functions, and outputs. It offers a robust framework for understanding asset life cycles, criticality, reliability, and risk, where data-driven decision-making is enhanced by artificial intelligence and machine learning. Significant among the topics covered in this book are predictive maintenance, life cycle cost appraisal, risk management, change management, resilience, business continuity, disaster recovery, workflow automation, smart buildings, digital twins, and blockchain technology within the context of sustainable development and practices. This book will equip readers with the knowledge, insights and techniques needed to optimize asset performance, reduce risk, and maximize value.