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Fm4.16 Understanding Property And Asset Management For Facilities Managers

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  • May 15, 2024

Fm4.16 understanding property and asset management for facilities managers

The main aim of unit fm4.16 understanding property and asset management for facilities managers is to render cornerstone knowledge to the learners about the facility management concepts. Moreover, this unit provides the education, management and design to make learners well-equipped professionals overseas of assets and properties within the preview. Also, focus on the comprehensive topic array which is crucial for effective management. Property management transfer is considered a significant category of the fundamental component emphasis of the task including tenant relations, lease administration, property maintenance and rent collection. With the help of these, facilities managers can increase the detailed recognition of the legal obligations, risk management and regulatory compliance strategies. It also ensures the protection and smooth operations of the property.

The principle of asset management is also considered an integral part of the unit fm4.16 that guides managers about the optimistic lifestyles of asset performance and value. It also includes activities such as condition assessment, inventory management, disposal strategies and maintenance planning. With the help of mastering all these techniques, the facilities managers may increase the ability reliability of assets decrease downtime and increase the return on investment. Financial management is another significant aspect catered in the unit fm4.16 which professionals acquire to generate budgets, financial reports analysis and forecast expenses. This acumen of finance makes managers able to get informed about decisions, allocate efficient resources and justify stakeholders with expenditures.

Strategies of risk management are integrated throughout the unit fm4.16 which has a moment on the mitigation and identification of the potential risk to the asset and property portfolios. It also includes the safety measures, planning, contingency and certifying relevant regulations with compliance to decrease the protection and disruption in assets of the organisation. Apart from that, sustainability practice also maximizes the emphasis to prompt managers of the facility to integrate green initiatives. It also complies with the standards of environment and pure sustainability certification which reduce the impact on the environment and increase the viability long term. In the overall unit fm4.16, the effective communication deals with the critical aspects of asset management and property management. The facilities managers also get complete training to engage with the stakeholders, tenants, owners of property, vendors and agencies of regulation.
Besides, it fosters transparent dialogue to resolve conflicts, address concerns and maintain optimistic relationships. Overall unit fm4.16 renders a comprehensive foundation for the managers of the facility to affect the assets and properties management. Furthermore, it also certified the operational efficiency, risk mitigation, regulatory compliance, sustainability and financial viability of their organizations.

Unit objectives

The main objectives of unit fm4.16 understanding property and asset management for facilities managers are demonstrated here:

  • To generate a comprehensive recognition of the principles of property management that include maintenance tenant and leasing relations.
  • To acquire the knowledge of asset management strategies for optimizing the performance and value of facilities assets.
  • To learn factor management techniques of finance to control cost, increase revenue and enhance the value of assets.
  • To increase the risk management professional practice to mitigate the liability potential and certify compliance with the standards and regulations.

Learning outcomes

Here are the main learning outcomes of the unit fm4.16 understanding property and asset management for facilities managers demonstrated for the learners.

LO1: Recognise the property lease requirement.
LO2: Recognise the charges and cost of the property.
LO3: Recognise the way to manage and set up a register for fixed assets and property.
LO4: Recognise the factors included in the relocation of property.

Assessment criteria

The assessment criteria of the unit fm4.16 understanding property and asset management for facilities managers is demonstrated below with the learning outcomes:

LO1: Recognise the property lease requirement.

  • 1.1 Elaborate on the multiple categories of the other agreements of contracts and leases between the tenants and landlords.
    (Include the finance leases, general leases, operating leases, true leases, pre-paid purchase leases, subleases, and deferred leases and skip places)
  • 1.2 Elaborate on the method through which leases are administered and created.
  • 1.3 Identify the significant legislation that influences the use and ownership of the Assets and property.
    (Include the legislation, particularly including covenants, property, CDM, carbon legislation, planning concerned, and sustainability as the optimise to tenant or landlord agreements, business rates, tax legislation and some other legislation which has great influence such as sex discrimination, disability act discrimination, race relations act)
  • 1.4 Elaborate the obligations of tenant and landlord to each other.
    (Support the explanation by utilising the obligation of landlord examples such as interior and exterior of the property, structures repair, gas and electric appliances safety, and fire safety of furnishing and furniture) and obligations of tenants for instance utility bills, paying rent, council tax and taking care of property) instead of trying to offer a boring list)

LO2: Recognise the charges and cost of the property.

  • 2.1 Elaborate the cost associated with owning property or occupying.
    (Provide the overview of revenue and capital cost)
  • 2.2 Elaborate the way through which start access property cost and associated charges may be managed.
    (Include the versatile tax implications and financial reporting of leasing and ownership)

LO3: Recognise the way to manage and set up a register for fixed assets and property.

  • 3.1 Elaborate the rational cost and principles included in maintaining and setting up a fixed asset and property register.
    (Include the maintenance, financial and legislative compliance)
  • 3.2 Elaborate technology which can be utilised for assisting in managing and setting up such as registered.
    (Include the available technological ranges from spreadsheets to the packages of CAFM)
  • 3.3 Elaborate the information which can be obtained from the fixed asset and property register and elaborate the way through which can utilised for advantage by management.

LO4: Recognise the factors included in the relocation of property.

  • 4.1 Multiple factors are included in the property relocation to fulfil the requirements of the business.
    (Support the explanation by utilising the own experience examples and case studies of the learners such as space planning, handover procedures, change use, cost reduction, contract novation, consolidation, sustainability, TUPE, social and corporate responsibility, redundancy, relocation of employee, motivation, and morale)

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