The Power of Asset Lifecycle Management

Asset life cycle management is understanding your equipment. Right? If you're not tracking work orders, you're never gonna get a good understanding of what your equipment does, and you're not gonna going to get a good understanding as to what fails. Things fail. Right. Like everything is going to break down at some point. And being able to manage that process by following work orders and getting all that data together, you're going to get a better understanding and possibly a understanding and possibly a good idea as to what's gonna fail and when. Right? So if you're not managing the life cycles, then you can end up with a catastrophic failure within your assets. Asset life cycle for me is being able to go to my board of directors and say, hey. Within the next three years, I need another forty thousand dollars to replace these units. So that helps me to manage that so that I can put in there, you know, capital planning and when those will be out, when those years are coming up so that I can plan out ahead of time and get that money when budget time comes around. We have the asset module and have all of our equipment kind of with an end of life date to it. And so that helps us with our capital planning, but also just in knowing the history of a piece of equipment, not just a number of years that it's been in existence, but also how many times we worked on it and how many times that we come back to this same unit for something. And so that helps us with our capital plan. You wanna know when an asset's installed, whether it be a dishwasher or an access point, then how long that asset's gonna last for, seven years, twenty years, ten years. So when you're doing capital planning, you know, hey. We need to look at replacing this. Or when costs start building up during that end of life time frame, you might increase the life cycle time on that. So it really helps us from the whole life cycle perspective. For budgeting needs, we need to know when's the end of cycle for this particular HVAC system. And so once we put that on a schedule, then we're able to outline our financial resources to various projects. Because with public education funding is already tight, so we have to be really good stewards in how we manage those funds and really place them at the right time.