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Questions and Answers
The objective of managing facility assets is to:
The objective of managing facility assets is to:
- maximize asset/equipment lifespan (correct)
- minimize costs (correct)
- increase efficiency and improve safety (correct)
- enhance the quality and utilization of assets (correct)
The term 'capital improvement' refers to a low-cost repair that preserves a vital building function.
The term 'capital improvement' refers to a low-cost repair that preserves a vital building function.
False (B)
The planned date of asset retirement based on operable life is known as:
The planned date of asset retirement based on operable life is known as:
End-of-life date
What is the main objective of Asset Enhancement Strategy?
What is the main objective of Asset Enhancement Strategy?
Asset enhancement strategy should align with the company's business objectives, support employee productivity, and enhance sustainability.
Asset enhancement strategy should align with the company's business objectives, support employee productivity, and enhance sustainability.
What is the first step in the comprehensive approach to asset enhancement?
What is the first step in the comprehensive approach to asset enhancement?
What type of analysis helps in understanding the viability of proposed enhancements, the potential return on investment, and alignment with market demands?
What type of analysis helps in understanding the viability of proposed enhancements, the potential return on investment, and alignment with market demands?
What is the purpose of Market Demand Analysis in Asset Enhancement?
What is the purpose of Market Demand Analysis in Asset Enhancement?
What is the purpose of Competitive Analysis in Asset Enhancement?
What is the purpose of Competitive Analysis in Asset Enhancement?
Why is conducting Tenant Analysis important for Asset Enhancement?
Why is conducting Tenant Analysis important for Asset Enhancement?
What is the purpose of Financial Feasibility analysis in asset Enhancement?
What is the purpose of Financial Feasibility analysis in asset Enhancement?
The 'Return on Investment (ROI)' for asset enhancement is calculated by considering:
The 'Return on Investment (ROI)' for asset enhancement is calculated by considering:
What should be reviewed in Regulatory and Compliance Review for asset enhancement?
What should be reviewed in Regulatory and Compliance Review for asset enhancement?
What are some sustainable practices for incorporating green building practices in asset enhancement?
What are some sustainable practices for incorporating green building practices in asset enhancement?
What are some key stakeholder groups to engage in asset enhancement strategy?
What are some key stakeholder groups to engage in asset enhancement strategy?
In asset enhancement design and planning, facilities managers should only prioritize sustainability and cost-effectiveness.
In asset enhancement design and planning, facilities managers should only prioritize sustainability and cost-effectiveness.
What is the purpose of budgeting and financing in asset enhancement?
What is the purpose of budgeting and financing in asset enhancement?
When carrying out Asset Enhancement Initiatives, ensuring regulatory compliance is not as crucial as other elements like design, budget, or stakeholder engagement.
When carrying out Asset Enhancement Initiatives, ensuring regulatory compliance is not as crucial as other elements like design, budget, or stakeholder engagement.
What is Asset Enhancement Initiative (AEI)?
What is Asset Enhancement Initiative (AEI)?
What is the main advantage of AEI compared to demolishing and redeveloping a new building?
What is the main advantage of AEI compared to demolishing and redeveloping a new building?
Why is AEI considered a good option for achieving a new lease on life for older buildings?
Why is AEI considered a good option for achieving a new lease on life for older buildings?
What is the primary benefit of AEI for property owners?
What is the primary benefit of AEI for property owners?
AEI is only relevant for buildings with low occupancy rates.
AEI is only relevant for buildings with low occupancy rates.
Which of these are considered AEI options?
Which of these are considered AEI options?
Redevelopment involves replacing existing building with new structures that are less intensive in terms of size, scale, and quality.
Redevelopment involves replacing existing building with new structures that are less intensive in terms of size, scale, and quality.
What is the primary objective of Maximizing Property Value in AEI?
What is the primary objective of Maximizing Property Value in AEI?
What is the primary objective of Improving Tenant Retention and Attraction in AEI?
What is the primary objective of Improving Tenant Retention and Attraction in AEI?
Aligning with Market Trends in AEI means incorporating outdated technologies and features.
Aligning with Market Trends in AEI means incorporating outdated technologies and features.
What is the primary objective of Enhance Operational Efficiency in AEI?
What is the primary objective of Enhance Operational Efficiency in AEI?
What is the objective of Extending Asset Lifespan in AEI?
What is the objective of Extending Asset Lifespan in AEI?
What is the objective of Enhancing Marketability and Branding in AEI?
What is the objective of Enhancing Marketability and Branding in AEI?
Supporting Sustainability and Corporate Social Responsibility (CSR) in AEI is not a crucial objective.
Supporting Sustainability and Corporate Social Responsibility (CSR) in AEI is not a crucial objective.
What is the objective of Ensuring Regulatory Compliance in AEI?
What is the objective of Ensuring Regulatory Compliance in AEI?
What is the main benefit of carrying out AEI, as highlighted in the text?
What is the main benefit of carrying out AEI, as highlighted in the text?
The Shaw Plaza Asset Enhancement project was aimed at reducing 10% of the energy consumption.
The Shaw Plaza Asset Enhancement project was aimed at reducing 10% of the energy consumption.
What is the primary example of AEI used in the Shaw Plaza Asset Enhancement project?
What is the primary example of AEI used in the Shaw Plaza Asset Enhancement project?
The case study example of Shaw Plaza focuses on the asset enhancement of a shopping centre.
The case study example of Shaw Plaza focuses on the asset enhancement of a shopping centre.
What is the primary benefit mentioned in the text for carrying out asset enhancement in a shopping centre?
What is the primary benefit mentioned in the text for carrying out asset enhancement in a shopping centre?
What is the primary example of AEI highlighted in the text for the Alexandra Retail Centre (ARC) project?
What is the primary example of AEI highlighted in the text for the Alexandra Retail Centre (ARC) project?
What is the main focus of Mapletree's asset enhancement in industrial properties?
What is the main focus of Mapletree's asset enhancement in industrial properties?
What initiative is Mapletree undertaking to enhance the value of its assets in Japan?
What initiative is Mapletree undertaking to enhance the value of its assets in Japan?
What is the main benefit highlighted in the text for incorporating facial recognition technology in Funan mall?
What is the main benefit highlighted in the text for incorporating facial recognition technology in Funan mall?
What is the primary function of the touch screen directory with facial recognition in Funan mall?
What is the primary function of the touch screen directory with facial recognition in Funan mall?
The facial recognition technology in Funan mall captures and stores personal data.
The facial recognition technology in Funan mall captures and stores personal data.
What other technology, besides facial recognition technology, will Funan mall utilize to study shopper traffic and crowd density?
What other technology, besides facial recognition technology, will Funan mall utilize to study shopper traffic and crowd density?
The former Funan DigitaLife Mall shut down in February 2017.
The former Funan DigitaLife Mall shut down in February 2017.
The Funan mall is the first 'online and offline mall' in Singapore to utilize an ecosystem of sensors, data analytics, and facial recognition tools.
The Funan mall is the first 'online and offline mall' in Singapore to utilize an ecosystem of sensors, data analytics, and facial recognition tools.
Besides providing recommendations, what is another use of facial recognition technology in Funan mall?
Besides providing recommendations, what is another use of facial recognition technology in Funan mall?
What is the primary focus of the CapitaStar loyalty programme?
What is the primary focus of the CapitaStar loyalty programme?
What is the main message conveyed by CapitaLand Group's president and group chief executive Lee Chee Koon regarding the future of brick-and-mortar businesses?
What is the main message conveyed by CapitaLand Group's president and group chief executive Lee Chee Koon regarding the future of brick-and-mortar businesses?
The Great World City Asset Enhancement Initiative (AEI) will be completed by the end of 2019.
The Great World City Asset Enhancement Initiative (AEI) will be completed by the end of 2019.
What major changes will be implemented in the exterior of Great World City during the AEI?
What major changes will be implemented in the exterior of Great World City during the AEI?
What is the primary goal of the re-organization of the space within Great World City during the AEI?
What is the primary goal of the re-organization of the space within Great World City during the AEI?
What is the main benefit for office tenants in Great World City due to the AEI?
What is the main benefit for office tenants in Great World City due to the AEI?
Great World City is adding a new cluster of Western restaurants to cater to the growing demand for international cuisine.
Great World City is adding a new cluster of Western restaurants to cater to the growing demand for international cuisine.
What is the expected increase in the percentage of net lettable space for F&B offerings in Great World City after the AEI is completed?
What is the expected increase in the percentage of net lettable space for F&B offerings in Great World City after the AEI is completed?
What major change is being made to the food court in Great World City as part of the AEI?
What major change is being made to the food court in Great World City as part of the AEI?
What new food concept is being introduced in Basement 1 of Great World City after the AEI is completed?
What new food concept is being introduced in Basement 1 of Great World City after the AEI is completed?
What are the three main access points to the upcoming Great World MRT station from Great World City?
What are the three main access points to the upcoming Great World MRT station from Great World City?
Great World City will be fully closed during the renovation and enhancement works.
Great World City will be fully closed during the renovation and enhancement works.
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Study Notes
Asset Enhancement Strategy
- Asset Enhancement Strategy is a strategy to improve the functional and characteristic features of a property to extend its lifespan.
- The strategy can be implemented while the building is operational.
Asset Types in Facilities Management
- Assets are categorized as facility-related (e.g., HVAC, plumbing), personnel-related (e.g., vehicles, uniforms), and IT-related (e.g., copiers, software).
- Most assets are essential to a company, have high value, require proactive management, and depreciate in value over time.
Facility Assets Management
- Facility managers manage mechanical services (e.g., firefighting systems, HVAC), electrical services (e.g., power supply, backup power), and plumbing systems (e.g., water supply, drainage).
- The goal of managing facility assets is to maximize asset lifespan, minimize costs, enhance quality, and improve safety.
Terms Concerning Facilities Assets
- Asset class: Groups of similar assets for accounting purposes.
- Capital improvement: High-cost investment to preserve a vital building function.
- Capitalized Asset: An asset that has reached a significant investment point to where depreciation can occur.
- Depreciation: The difference between the current value and original value of an asset.
- End-of-life date: Planned date of asset retirement based on operable life.
Market and Feasibility Analysis
- Market analysis involves assessing economic trends and current occupancy rates for similar buildings.
- Feasibility analysis evaluates the viability of proposed enhancements, return on investment, and alignment with market demands.
- Factors to consider include tenant needs and preferences, lease terms, competitive analysis, and regulatory compliance.
Stakeholder Engagement
- Engagement includes employees, department heads, management, and external stakeholders—suppliers, contractors, regulatory bodies—to ensure alignment on needs and effective implementation.
- This is crucial for successful asset enhancement.
Budgeting and Financing
- Effective budgeting and financing are critical for successful asset enhancement strategies.
- These critical steps include creating a detailed budget, securing appropriate funding, and implementing cost-management and control measures.
Regulatory Compliance
- Compliance with local regulations, building codes, zoning laws, environmental and safety regulations is paramount.
- Needed permits and approvals are vital for project timelines and are also needed in accordance with Singapore's building codes, safety regulations, and environmental standards.
Asset Enhancement Initiatives (AEIs)
- AEIs improve existing developments rather than demolishing and rebuilding.
- AEIs are a more sustainable way to give older buildings a new lease of life.
- AEIs also focus on improving building functionality, cost savings, and tenant attraction.
AEI Options
- Renovation and refurbishment: Improve appearance and functionality of common areas.
- Retrofitting: Improve or replace inefficient energy-consuming equipment.
- Conversion or repositioning: Change the property's target market.
- Expansion: Increase leasable space (e.g., additional floors).
- Green initiatives: Incorporate sustainable features (e.g., solar panels).
- Technology upgrades: Implementation of smart technology to improve operational efficiency.
- Tenant amenities: Add features like fitness centers, conference rooms, or flexible workspaces.
- Redevelopment: Demolish and rebuild with new structures.
Key Objectives for Carrying out AEIs
- Maximizing property value: Increase the overall value of the property through renovations, upgrades, and reconfigurations.
- Improving tenant retention and attraction: Enhance the property's physical attributes and amenities to improve tenant satisfaction.
- Aligning with market trends: Adapt the property to meet current market trends and demands.
- Enhancing operational efficiency: Improve efficiency by upgrading building systems to reduce operational costs.
- Enhancing marketability and branding: Enhance the building's image and make it more appealing to tenants or buyers.
- Supporting sustainability and corporate social responsibility: Implement sustainable practices to attract eco-conscious tenants.
- Extending asset lifespan: Address aging infrastructure and outdated systems to keep the asset functional.
- Ensuring regulatory compliance: Ensure the property meets all current regulatory requirements.
Case Study Examples (Singapore)
- Shaw Plaza: Reduced energy consumption by 30% through improved chiller plant sizing and optimization. This reduced the high energy usage for the cinema halls and the retail mall in general.
- Great World City: A significant asset enhancement initiative to increase the mall’s overall appeal across all areas.
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