FM Framework
Asset Inventory
A reliable asset inventory is the foundation for effective maintenance planning, compliance assurance and lifecycle investment. When asset information is missing, inconsistent, or recorded at the wrong level, FM teams lose clarity and decision-making becomes assumption-led.
At MCP, we support organisations to capture, verify, structure and govern asset information so it can be trusted and used operationally — not simply stored.
FM FRAMEWORK SUB-CATEGORIES
What is an
Asset Inventory
An asset inventory is a structured record of the physical assets an organisation owns, operates, and maintains across its estate. In Facilities Management, this includes capturing assets at the correct maintainable level, with consistent conventions and the right core attributes to support maintenance delivery, compliance and lifecycle planning.
A strong asset inventory is verified against what exist on site, aligned to an agreed hierarchy, and actively managed with clear ownership and governance.
Key Objectives of an
Asset Inventory
Create a dependable view of what assets exist, where they are, and what requires maintenance and compliance attention.
1
Establishing a Complete, Accurate Asset Baseline
Improving Maintenance Planning and Reliability
2
Ensure assets are recorded at the right maintainable level so planned maintenance is accurate, targeted, and consistently delivered.
Strengthening Compliance and Risk Control
3
Support statutory and mandatory regimes through better asset traceability, documentation linkage, and clear responsibilities.
4
Enabling Lifecycle Forecasting and Investment Decisions
Provide trustworthy data for lifecycle planning, replacement decisions and long-term budget forecasting.
5
Creating Consistency Across Systems
Reduce confusion caused by mismatched or duplicated records by aligning the asset register across CAFM/CMMS, spreadsheets, and other sources.
6
Embedding Governance and Ongoing Data Quality
Put ownership, processes, and controls in place so the inventory stays reliable rather than degrading over time.
MCP Approach to an
Asset Inventory
MCP works with organisations to build an asset inventory that is usable, verifiable and structured for FM delivery, not simply “a list”.
Asset Inventory Discovery and Scoping
We establish the purpose and scope of the inventory (estate coverage, asset types, maintainable level and core data fields).
Physical Verification and Asset Validation
We validate asset information against the physical asset base, confirming what exists on site, resolving gaps, duplicates and inaccuracies.
Asset Hierarchy, Structure and Maintainable Level
We align records to a clear hierarchy and ensure assets are captured at the correct level for maintenance planning, compliance, and lifecycle thinking.
Data Standards, Naming Conventions and Identifiers
We implement practical standards (naming, IDs, location structure, and minimum required fields) to improve consistency and usability.
CAFM / CMMS Alignment and Data Cleansing
We support cleansing and alignment so your asset register works effectively within the systems used by FM teams and suppliers.
Governance, Ownership and Handover
We embed accountability and practical controls so asset information remains accurate through changes, projects and BAU updates.
FM Framework
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Speak to One of Our
Facilities Management Consultants
If you have any questions or would like to learn more about how MCP Consulting Group can support your organisation with Asset Inventory, please get in touch.
Our team of consultants can provide tailored support to improve asset data quality, strengthen compliance and enable more confident maintenance and lifecycle decisions.
FAQs
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Because maintenance planning, compliance regimes, lifecycle forecasting, and cost control all rely on knowing what assets exist and how they should be managed.
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Missing assets, duplicated records, assets recorded at the wrong level, inconsistent naming/locations, and records that do not match what is physically on site.
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Validating records through site checks to confirm the asset exists, is correctly identified, located accurately and all relevant information is captured at the right maintainable level.
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It depends on how maintenance is planned and executed (and how compliance is managed). We help define the maintainable level so planned maintenance and reporting are meaningful.
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Yes, we commonly support cleansing, standardisation and alignment, so the asset data works in the client’s chosen CAFM/CMMS and supports maintenance delivery and reporting.
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The initial baseline is a project, but keeping it reliable requires governance, ownership, and practical update processes — which we help embed.