Developing in Asset Management

A male facilities manager speaks to a group of collegues while gesturing at a whiteboard with various information on it, the group are dressed to represent all different departments and levels in the organisational heirarchy

Key indicators

At level three on the asset management maturity framework, we start to see organisations making significant improvements to their facilities management operations. At this level, adherence to regulatory standards is vastly improved from levels one and two. 

Organisations operating at this level have an asset register in place, are aware of what assets they have, and the state of those assets. The process to updating that register may still be manual, but for many organisations this will be done via dedicated facilities management software. 

This third stage in the asset management maturity framework is the goal for many organisations. Operating at this level allows organisations to sustain their operations over the long term. 

Process progress

Processes are in place and undergo continual improvement. They are consistently applied and are often effective. These processes have been developed to support strategic goals, and there is an understanding of FM’s role in broader organisational success. 

Documentation of processes is embedded into the processes themselves, ensuring they retain relevancy. This documentation is accessible by all team members, allowing team members to follow standard processes without extensive prior knowledge. This significantly reduces the risk of knowledge loss, and allows work to continue even when key team members are absent. 

Planned maintenance

When organisations advance to the developing stage of the asset management maturity framework, their ability to manage planned maintenance is considerably higher. At this level, organisations can start to question their preventive maintenance strategy, looking for issues, or opportunities for improvement and efficiency. 

How organisations get there

Organisations at level three on the asset management maturity framework have achieved this level through prioritising the development of effective processes. There is an understanding of what asset management is, and the role that it plays in the success of the organisation. 

These organisations know that there is always room for improvement, but are conscientious of setting a solid foundation. 

At this level, organisations have prioritised risk reduction, and are actively working towards adhering to compliance requirements. 

How to move forward

Organisations can operate at this level of the asset management maturity framework in perpetuity. For some organisations, this is the level they aspire to, and achieves the right balance of effective asset management and level of investment. 

To move up to levels four and five require significant additional investment in the technologies that support advanced asset management. 

Working example

For our working example of the developing stage on the asset management maturity framework, let’s consider an Australian public hospital.

Current state

This hospital has an in-house facilities team, and outsources some of the work to contractors. With hundreds of users potentially logging work requests, it is important to them that these are processed through a dedicated FM platform. 

Within that platform are various processes and procedures, linked to work orders, so they can be quickly found.

Moment of change

One critical asset for the hospital is their HVAC system. Operating theatres must be kept at the right temperature to protect the safety of the patient. 

As per their process, the facilities team schedule routine maintenance for the system, at a time that minimises disruptions to the hospital. With multiple operating rooms, this maintenance is performed in a sequence that ensures there is never a complete shutdown of all rooms. 

Moment of truth

Team members are notified automatically when this work is upcoming, and are prompted to refresh the process before work commences. As the work is completed, asset statuses are updated, so the system reflects the most accurate information available. 

Once work is completed, the team review the process, coming together to identify any potential opportunities, or weaknesses embedded in the process. This facilitates continuous improvement of processes.


At regular intervals, the hospital performs a risk assessment. The health and safety of hospital staff, visitors and patients is made a priority, and by referencing the system, the hospital is able to allocate sufficient budget to planned maintenance activities. 

By ensuring the hospital adheres to regulatory requirements, they are able to bid for additional funding from their state government. Proving effective asset management strategies, the hospital wins additional funding over other competitors. 

With this additional funding, they are able to invest in improvements to their facilities, and create a strong reputation.