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EAM | Enterprise Asset Management
Enterprise Asset Management (EAM) is the entire lifecycle management of the physical assets of an organization including buildings, installations, infrastructure and real estate assets. EAM systems are important because they cover the design, construction, commissioning, operations, maintenance, replacement, and demolishment of all assets, equipment, and facilities. "Enterprise" in EAM refers to the scope of assets: all asset types, across all locations, throughout the organization.
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Enterprise Asset Management encompasses all policies, processes, operating models, management, economics, documentation, and sustainable aspects that relate to these assets.
Benefits of EAM
In facilities and real estate management, EAM includes buildings, infrastructure, and technical installations as well as assets such as space, workspaces, fleet, vending machines, meeting rooms, and employee centric assets and facilities. The primary goal of EAM is to optimize the full life cycle of these assets by:
- standardizing, integrating, and continuously optimizing asset related processes
- achieving more flexibility in usage and a more effective utilization of assets
- operating and maintaining assets at lower cost
- increasing continuity, reliability, and security of assets
- complying with health and safety legislation and asset lease accounting regulations
- reducing the sustainable impact of assets
- replacing non-performing assets
Due to the broad scope of EAM and its interdisciplinary nature, professional Enterprise Asset Management is always supported by software technology.
More than just maintenance
Asset management is often connected to the maintenance processes of assets. In the case of Enterprise Asset Management, the scope of assets includes the challenges associated with real estate portfolio assets and the associated management process. This includes understanding the location of assets within space, identifying who is utilizing the assets, and understanding the financial impact. EAM software is, therefore, much more comprehensive than Computerized Maintenance Management Software (CMMS).
