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An Effective Management Tool
If your perception of conducting surveys is that they can be a
useful exercise but are too time consuming to prepare,
cumbersome to deploy and require considerable resources to
process the numerous responses into a meaningful report it...
Debt Management Plans - A Way To Survive The Debt And Come On Top
Debt Management Plans
Debt Management Plans (DMP) is placed one step beyond credit
counseling and a stone's throw short of bankruptcy. If you are
too deep into debt and unable to pay them, a credit counseling
agency may recommend Debt...
Debt Management Plans - How They Can Help You Get Out Of Debt
Debt management plans (DMP) consolidate your short term debts
into one monthly payment. They also negotiate lower interest
rates, enabling you to pay off your accounts usually in less
than five years. Before you sign up with one of these...
Project Management Success with the Top 7 Best Practices
Managing a project can be daunting. Whether planning your
wedding, developing a new website or building your dream house
by the sea, you need to employ project management techniques to
help you succeed. I'll summarise the top 7 best practices at...
Workflow Management Software: Businesses are Getting into the Flow
Ah, the ebb and flow of work. Sometimes it seems like there is much more ebbing than flowing with all of the workflow, the deadlines, the projects and presentations, but overall the tide seems to constantly be flowing in and out, in and out, in and...
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Asset Management 101
Asset management is the method that a company uses to track
fixed assets. It is the process of controlling assets throughout
their lifecycle - from procurement, through daily operations,
and finally disposal. Factory equipment, desks, chairs,
computers, and property are some examples of such assets.
Broadly speaking, asset management involves tracking the
physical location of assets, managing demand for scarce
resources, and accounting tasks such as amortization. Issues
that are part of asset management include asset value and
depreciation; purchasing requests, orders, and asset receipts;
licenses, leases, maintenance, and other contracts; vendor
performance, service levels, and warranties; departmental and
user data; and physical asset attributes. One of the purposes of
going all these lengths and putting in effort to organize all
this information is to keep track of important information such
as how much the asset costs, whom it was purchased from, who is
using it, where it is physically located, which department code
the cost should be assigned to, which vendor should be called
for support, when the lease expires, when it should be retired,
what the depreciation rate is, etc. This, in turn, provides the
basis for managing and optimizing an
Associated Websites
organization's entire asset
portfolio.
When we speak of property management as part of asset
management, it includes property selection, implementation of
policies and performance standards for that property, and
monitoring of its performance in relation to the owner's
objectives.
Generally, there are four broad stages of the asset lifecycle:
Planning and procurement: This involves planning, ordering, and
receiving the technology. Operations: This includes managing the
day-to-day operations of the assets to maximize productivity.
Financial management: It involves ensuring accurate tax,
depreciation, and other costs. Disposal: Once it is time for
disposal, you are required to remove the asset from the
enterprise in compliance with environmental regulations.
Various tools are available for asset management. However, it is
important to realize that asset management is primarily a
process, and the tools aspect is just a small aspect of it.
Since every organization is unique, with its own unique needs
and strategies, the ideal asset management process for each
organization differs.
About the author:
Chris Tolamalu is interested in asset
management.
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