Measuring Financial Performance with BOMA
Monday, October 8, 2018
by:

Section: News Roundup




By Joe Maldonado,  BOMI Asset Management Course Instructor

BOMA San Diego provided students the opportunity to learn about Asset Management topics ranging from financial audits, investment portfolio diversification, asset planning and much more at a recent BOMI education course. The Asset Management course applies to the PMFP certification, FMA and RPA designations; all credentials are proven to improve job performance, industry knowledge and to help accelerate business professionals into higher paying positions.

 
1. What are one-point managers should take away from this course?
 
There are 12 chapters we covered, but the most important point we reviewed was "What is Asset Management & Why is it so important?"
 
This course addressed critical asset management concepts, terms, and practices related to facility management.  Students became familiar with how to measure financial performance and how to perform due diligence for both acquisition and dispositions of assets.  These are essential skills for strategic facility management practitioners.  If not done properly it can cost companies, thousands if not millions!!!
 
2. How does asset management apply to both principals (property managers, facility engineers, owners) and associates (service providers)?
 
Owners objectives must be understood by the Asset Manager who works closely with the Property Managers to implement the objectives and investment philosophies.  
 
There is also an ethical fiduciary responsibility by all parties involved, which is crucial and necessary in today's requirement for the triple bottom line.  This includes social, environmental and profits.  I have seen many great companies fail in one of the mentioned items and they are no longer with us.