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Managing Physical Assets

Financing Assets. Managing Physical Assets. Identifying Asset Needs. Identifying Asset Needs Assets should be purchased that: Increase efficiency of operation Improve quality of produce or service delivery Satisfy customer needs and expectations Meet or exceed market benchmarks

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Managing Physical Assets

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  1. Financing Assets Managing Physical Assets

  2. Identifying Asset Needs Identifying Asset Needs Assets should be purchased that: • Increase efficiency of operation • Improve quality of produce or service delivery • Satisfy customer needs and expectations • Meet or exceed market benchmarks • Are acceptable in the workplace safety environment • Impact positively on the business finances Determining Costs Methods of Financing • Hire Purchase • Hiring/ Renting • Leasing • Purchase Taxation Arrangements and record-Keeping

  3. Developing a Physical Assets Register • Components of a PAR • Name and Type of Asset • Asset description • Purchase Date • Original Cost • Opening written down value(WDV) • Depreciation Rate and Calculation Type • Depreciation Amount for the year • Accumulated Depreciation • Closing WDV • Methods and Proceeds of Disposal

  4. Depreciation • Reasons for Depreciation • Factors Influencing Depreciation • Calculating Depreciation • Straight Line Method • Diminishing Value Method • Advantages and Disadvantages

  5. Maintaining the PAR • As new items are acquired enter into register. • Use a code system to record assets • Record all events affecting the assets in the register.

  6. Developing a Maintenance Regime • Maintenance Planning • Routine Asset Maintenance • Long-Term Asset Maintenance • Types of Maintenance • Asset Maintenance Register • (Computerised Maintenance Management System CMMS) • Scheduling Maintenance • Environmental Considerations

  7. Monitoring Assets • Developing Reporting Mechanisms • Legal Compliance • Analysing Asset Performance • Asset Replacement and Disposal

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