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Asset Management Toolbox: Keys for Property Stewardship
A successful carpenter has a toolbox that includes a hammer, saw, screwdriver, pencil and various other implements. If the toolbox is not complete, the carpenter either will not be able to practice...
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Gambling with Deferred Maintenance: Food for Thought
We may think we can outsmart consequences, we may try creative tricks to avoid consequences, but we can only do this for so long. Sometimes we get “lucky” and we can defer things for a few years, even...
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Heated Decision-Making on Expensive Capital Projects
The bigger — and more expensive — the decision, the more emotions play a role and the more explosive things can become. I vividly remember a meeting where a group of owners were deliberating on the...
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Can Dominoes Topple a Building? (Video Included)
They call it a “domino show” — that long row of dominoes toppling over one another in a cascading wave. It is quite thrilling to watch as the first domino sets off a chain reaction. The key to a...
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Urgent vs. Important: Maintenance Prioritization on Limited Budgets
They say that two things in life are certain: death and taxes. Well… I say that there is a third certainty: limited budgets. I would go even further and say that prioritization is most certainly...
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Are my Assets Fading or Degrading?
We all know that if we ignore our assets they will eventually suffer from physical deterioration — it is a reality of life. But some assets also fade. What’s the difference and why care? Fading refers...
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The Grasshopper’s Lesson on Asset Management
One fine summer’s day a Grasshopper was hopping about chirping and singing. An Ant passed by carrying a large bag of corn husks on her back. “Come and dance with me” said the Grasshopper, “Why not peel...
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Is My Operating Budget a Fairy Tale?
There are several interesting money management lessons we can learn from Fairy Tales. Once upon a time... Robin Hood, a heroic outlaw (with a fondness for green outfits), used the cunning of disguise...
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What’s Hiding in My Building?
“Sometimes, the most dangerous things are those that are hiding in plain sight.” We have all seen those PhotoShop images of an iceberg with the tip floating above the visible surface of the water and a...
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Do I Have a Line of Sight on My Assets?
Asset management is a process that requires multiple ways of understanding—or sights—to achieve success. There are five interconnected sights that provide a foundation for owners to realize the full...
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Pandora’s Box: A Cautionary Tale for Optimists and Pessimists
Occasionally, I’ve been known to see the glass half full, while more often I’ve seen it half empty. While I am not alone in this this type of dualistic thinking, I have learned that such a strong...
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Asset Assessment From a Bird’s Eye View
We’re all looking for solutions—asset managers included. Discover how the right combination of timely and relevant assessments can help you understand how your assets are performing. Have you heard the...
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The Warning Signs of Asset Failure
If we all had crystal balls, asset management would be easy. But without mystical items of premonition, it falls to asset managers to adequately plan ahead and to know the warning signs of asset...
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Risk Management Strategies: Chicken or Ostrich?
When it comes to asset risk management, it can be easy to find ourselves on one of the two ends of the spectrum of worry: pure panic or blissful denial. But neither of these outlooks help us make...
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