There are no excuses for being poor asset managers. With websites such as Brightnest the non-engineer can do an excellent job of managing their most important asset. This free and easy to use service provides homeowners with a means to manage home asset lifecycle activities in a central location. This asset management system comes “complete with reminders for when your regular maintenance needs to be done. The service can even keep track of your product manuals, paint colors, and more.”
Consider now how the domestic asset manager can have an asset health indicator score for her home. She'll have a dashboard of all relevant risk-mitigating tasks that will also help her project and control costs. Most of all, the expensive, unplanned downtime of the air conditioner in mid-summer can be avoided.
Another example of “domestic” asset management systems is BMW. In 2002 BMW introduced condition Based Service. Starting with the 7 Series BMW offered onboard sensors and algorithms that measure oil condition and level, frequency and severity of braking, AC micro filter, mileage and several other factors. Data and results are electronically submitted to the local service center. Conditions are evaluated against predicted failure rates. BMW calls you to schedule servicing. The company describes the benefits of this service in terms of safety and convenience. “Save time and money by servicing your vehicle only when it needs it…based upon individual driving habits”. Service times can be reduced as the service center can be completely prepared ahead of time with technicians and parts.
Asset Performance Management is what Brightnest and BMW offer to their clients - only on a much larger scale with some analytics to make it fun. My US TAG colleague Scott Morris and I will be presenting a paper on "Taking the Fun and Excitement Out Of Asset Management" at SMRP Annual Conference in October. Please join us there.