Asset Management Health Check

Do you understand your asset data and does this drive your decision making? Is there a clear and structured plan in place that outlines your future asset management strategy? Do you understand how to use your stock condition data to inform active asset management? Do you understand your repair costs and priorities across your assets?

Effective and informed business planning is a core part of delivering affordable homes that meet the needs of tenants. Our Asset Management Health Check helps you to improve the efficiency of your asset management– and most importantly provides assurance to your Board that there is a robust approach. It provides a structured assessment that uses our bespoke terms of reference, identifying any gaps and outlining a unique roadmap to effective asset management.

What does it involve?

Our Asset Management Health Check consists of a high level health check of your organisation’s existing approach to asset management, reviewing both strategic and technical management. Organisations need to know what to do in order to demonstrate full compliance with regulation, legislation and approved codes of practice and this product will provide you with this assurance.

The strategic and technical areas which are reviewed as part of the Asset Management Health Check are as follows:

Strategic

• Governance;
• Data records and IT systems;
• Stock sustainability;
• Policies, process maps and procedures;
• Procurement;
• Reporting;
• Delivery of planned works;
• Contract management;
• Auditing;
• Competency checks.

Technical

• Stock condition data;
• Decent homes;
• 30-year forecast;
• Energy efficiency.

We will provide you with the required knowledge to use asset management information to inform strategic decision making and plan more efficiently. In turn, this will allow you to maximise the value of your stock.

Reviewing your asset management approach is a good way of ensuring that you’re getting maximum value from your assets, as the process will identify your systematic weaknesses and provide you with the required steps needed to prevent these weaknesses from emerging. This is particularly important since the Regulator of Social Housing issued a new Value for Money Standard (VfM) in 2018 which requires all Registered Providers to ensure that optimal benefit is derived from resources and assets, and that they optimise economy, efficiency, and effectiveness in the delivery of their strategic objectives. A review of your asset management will ensure that you are able to evidence these regulatory requirements.

The Asset Management Health Check will provide a gap analysis to identify any weaknesses in your current approach and the value for money implications of getting this wrong. You will be provided with a simple and clear action plan in order to meet regulatory requirements as well as deliver improvement and efficiency.  We know that managing your assets whilst ensuring you maximise financial efficiencies and also meet tenant needs is a complex and onerous task for housing providers, therefore our asset management health check is designed to simplify your approach and help you understand what you are required to do.