Asset management refers to an approach to realizing value out of the entities and assets that an organization is responsible for, during their lifetime, both in their monetary and non-monetary environments. It can apply equally to tangible assets and to non-tangible assets. It is the process of allocation of resources between competing objectives. Assets can be fixed or variable. Fixed assets such as plant, property, equipment, and fixed capital consist of things that cannot be changed without damaging them, while variable assets deal with changes in prices and stock indices.
Asset management is a very specialized discipline and it is practiced by different types of managers. A manager who practices asset management can be a financial, marketing, manufacturing, or administrative consultant. The scope of asset management is vast. Some areas of specialization are real estate asset management, healthcare asset management, aerospace asset management, and financial asset management practice. Asset managers also handle and monitor business interruptions and other forms of downtime.
Asset management companies can be found everywhere, with almost every city containing one or more asset managers. The Asset Management Association of America (AMA) is a non-profit association of asset managers. The Association’s mission is to educate the public about asset management, to provide support for managers and their clients, and to establish standards of practice. The AMAA also tracks and reviews the performance of independent managers. Since the inception of the AMAA in 1976, the Association has been an essential resource for all asset management professionals.
The AMAA has produced a number of quality publications and has also developed a number of computer software programs to help lenders improve their investment strategies and asset management systems. One of the top-rated computer programs is called Real Age Asset Management Software, which is also the only investment-grade real-time ERP tool available that integrates with the popular Investment Research Institute’s (IRI) investment research database. This outstanding program is very useful for investors because it provides data about market trends, historical data, and current real-time stock quotes. Another top-rated asset management software is Global Investors Business IQ.
Most importantly, AMAA and its members have developed tools that help manage company assets like equipment and work orders. Some of these tools are so sophisticated that they allow managing downtime, keeping track of inventory, and forecasting demand and supply. These high-quality programs enable AMAA members to cut costs and increase profitability. One important point to remember when considering software to manage company assets like equipment and work orders is whether the software would be of use to any employee who performs any function that requires access to company assets like equipment and work orders.
In conclusion, Asset Management is very important for all investors. The ability to plan, measure, and evaluate a company\’s assets is vital to investors because their investments are meant to earn a return. All AMIA members are encouraged to invest in high-quality, enterprise-level asset management solutions. As an advisor to investors, AMIA will show them how easy it is to invest in robust, enterprise-level electronic management systems that provide AMIA members with the information they need to make informed decisions about their investments.
Asset management refers to an approach to the realization and the management of value from the various things a specific group or entity owns, over the life cycles of their ownership. It can apply both to fixed assets and to variable assets. The key issues in asset management are:
Infrastructure asset management deals with the physical aspects of assets like buildings, bridges, tunnels, etc. Fixed assets like plant and machinery and capital assets like accounts-receivable records and capital equipment are part of infrastructure asset management. Public assets include such things as parks, museums, public domain collections, historical archives, financial resources like stocks and bonds, and even certain types of physical assets like water and electrical energy.
The first aspect of asset management refers to the selection of assets to be managed. Some sectors that require special attention in this context include the property market, the financial services sector, the metals sector, the oil industry, the information technology sector, and the non-financial sector. One of the biggest advantages of asset management is that it provides a very useful service – namely, making available real-time information about what is happening in the marketplace. This enables decision-makers to react quickly and efficiently to changes in external conditions and in particular to fluctuations in specific economic variables. Decision-makers who implement asset management refer to this process as being able to respond appropriately to fluctuations in the markets.
Asset management work involves many elements. In general, asset management involves identifying potential problems, developing solutions, and then ensuring that these solutions are implemented. One aspect of this process involves identifying and evaluating lifecycle needs and identifying potential long term assets that will contribute to overall performance. Another element of this process involves projecting where the organization should be in a number of different lifecycle phases in the future.
An important advantage of an asset management system is that it can help the organization achieve its long term goals. For example, the development of a good asset management system ensures that the organization develops the appropriate structures to capture, store, and distribute lifecycle assets (such as fixed assets, capital equipment, inventory, and liabilities) over the course of its operations. Proper asset management allows organizations to ensure that they remain competitive in their field throughout the life cycle of their products. This is possible because asset management software ensures that all assets are valued at their purchase date and that these assets are properly managed and transferred over the course of the organization’s operations.
Finally, asset management helps organizations achieve maximum efficiency by minimizing the time that it takes for tasks to be completed. This is because asset management software identifies those tasks that do not require the full attention of a person and then submit the task to a team of experts. When the job is finished, the tasks that did not require the attention of the human team are automatically handed over to the automated team. Therefore, the amount of time taken for tasks to be completed is greatly reduced, leading to a significant increase in the speed at which work can be carried out. To achieve these goals, you need to develop a robust and well-designed asset management plan based on the needs of your organization, and according to the resources available to you.