Property owners in the private and public sectors need to have real-time status of all their existing capital assets and what projects are being executed to produce new capital assets when they are completed. Those property owners could include real estate developers, banks, retail chains, supermarkets, fast-food chains, education providers, and healthcare. Those completed and operational assets will generate revenue for the capital project owner from leases with external and internal tenants as well as the capital project owner will incur expenses to maintain and operate those assets.
PMWeb is one of the Project Management Information Systems (PMIS) with an Asset Management module that will be used to capture the details of all assets owned or controlled by the property owner. PMWeb allows capturing three types of investments. The first is real estate or any capital assets like buildings, warehouses, schools, highways, fuel tanks, and pipelines. Also, PMWeb allows capturing all equipment assets that the property owner owns. Those include fixed assets like air handling units, chillers, boilers, escalators, and non-fixed assets such as trucks, buses, and other mobile and movable equipment assets. The third type of assets are spare parts and other assets stored at the capital project owner inventory locations.
PMWeb is one of the Project Management Information Systems (PMIS) with an Asset Management module that will be used to capture the details of all assets owned or controlled by the property owner. PMWeb Using PMWeb assets location breakdown structure, assets will be grouped into four levels. The first level is the different locations where the property owner has the real estate developments located. There could be several buildings at each location, such as shopping malls, commercial towers, residential towers, car park buildings, central plants, etc., as well as zones such as gardens and playgrounds. Each building could include floor levels such as the ground floor, first floor, second floor, etc. The fourth level will be spaces and apartments that exist within each floor level.
For example, assume that one of the property owner’s real estate developments is a residential compound in one of the neighborhoods in the country. The compound, a location, includes several residential and commercial buildings, a shopping mall, and public gardens with associated infrastructure. Facilities including levels for which the residential towers will consist of apartments and the commercial towers will include offices.
All information relevant to each location, building, floor, and space will be captured using the PMWeb input form for each type of those asset. The information will include details on the asset GIS location, key stakeholders, gross and leasable areas, barcode, among others will be captured. Other information that contains the total development area and the whole area that can be sold or leased, whether the space is vacant or leased, among others, will be captured in those forms. Like other PMWeb modules, the specification tab can add other user-defined fields to ensure capturing all needed information for each asset type in the desired grouping. Also, the attachment tab can be used to upload documents such as the land ownership document, permits, drawings, BIM models, among others.
The second type of assets captured in PMWeb is the fixed and movable or mobile equipment assets. Those assets can at assigned at any location level as detailed above. For example, there could be patrol cars for the compound security, assigned at the location level. On the other hand, equipment assets like air handling units could be located at a space location like a flat or an office. For equipment assets, the PMWeb form includes, in addition to the complete details of each asset, a cost worksheet tab to capture the cost and book value of each asset depending on the depreciation method used for the selected asset. PMWeb allows using the Straight line, Double-declining balance, and sum of years digits for the asset depreciation. The cost worksheet tab also allows capturing the cost to own and cost to operate the asset.
For equipment assets, PMWeb also allows capturing the details of components and subcomponents of each asset. For example, for the Air Handling Unit (AHU), the components could include the fan, filter, power connection, case, among many others. For each component or subcomponent, PMWeb allows capturing the details of component type, description, condition, a condition reported date, last work order number used to fix this component or subcomponent, life remaining, service internal and installed usage. The objective of capturing the components of each equipment asset is that those will need to maintain using the PMWeb work order module.
For movable assets or non-fixed assets, PMWeb allows capturing the details of all planned and actual dates of those assets’ movement. If the movement plan was linked to a project schedule, each asset’s movement plan could be linked to the relevant project schedule activity. For each asset, the user needs to drag and drop the asset from the current location to the destination location.
The third type of assets captured in PMWeb is the inventory assets, including spare parts required to maintain the different real estate assets, including equipment assets. PMWeb allows creating multiple inventory locations to map all locations that the property owner and developer has. Those could also include third-party inventory locations used in storing the spare parts. It is possible to define all sublocations at each inventory location that could consist of the aisles formed at the site. As for the spare parts assets, PMWeb allows capturing the spare part details such as condition status and condition date, totally stocked, used, unusable, moved, and on-hand. In addition, the unit cost and unit of measure can be captured for each asset, which will be the basis for calculating the extended cost. Further, manufacturer name, manufacturer number, serial number, lot number, among others, can be captured for each asset.
Of course, PMWeb business intelligence report writers can create different reports on the captured assets in PMWeb, including a report to grab all inventory assets’ details. The report can be designed to display alerts for reordering inventory stock. For example, it will show which inventory stock is on track, which within 5% of the reorder point and inventory stock that went beyond the reorder point.
PMWeb asset search provides a central location to search for all types of assets, including locations, buildings, floors, spaces, and equipment. For the real estate locations, PMWeb allows displaying those locations on a google map, which will be linked to the given GIS location. The search screen will differ depending on the asset category, as the selection criteria will vary depending on the attributes that will be relevant to each asset category.
