BSR317 Asset And Space Management UITM Assignment Sample Malaysia

BSR317 Asset And Space Management course is designed to provide students with the basics of asset and space management. In this course, learners will explore various aspects of asset and space management such as inventory control, capital budgeting, resource utilization, facilities planning and maintenance. In addition, students will learn about the fundamentals of developing a comprehensive plan for asset and space management as well as how to utilize technology in asset and space management.

Learners will be able to apply the concepts they learn in this course, to establish effective asset and space management practices within their organization. The course also covers topics such as financial considerations, organizational issues, and compliance with regulations, as well as how to measure success in a facility or project. Upon successful completion of this course, students will have a strong understanding of asset and space management principles and be able to apply them to their own organizations.

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In this section, we will outline the assignment objectives, which include the following:

Assignment Objective 1: Identify the principles of asset and space management within the building industry.

Asset management and space management are two important principles within the building industry that focus on the effective use and maintenance of building assets and the utilization of space within a building. Here are some of the key principles of asset and space management:

Asset management principles:

• Asset tracking: This involves maintaining an inventory of all building assets and tracking their location, condition, and maintenance history.
• Maintenance planning: It is essential to plan regular maintenance and inspections of building assets to ensure they are functioning efficiently and effectively.
• Lifecycle planning: Asset management involves planning for the full lifecycle of building assets, from acquisition to disposal or replacement.
• Cost-effectiveness: Asset management strategies should focus on maximizing the value of building assets while minimizing costs.

Space management principles:

• Space planning: This involves analyzing space needs and utilization to ensure that space is allocated efficiently and effectively.
• Space allocation: Space should be allocated based on the specific needs of the building and its occupants, taking into account factors such as function, safety, and accessibility.
• Space utilization: Regular monitoring and analysis of space utilization can help identify opportunities for optimizing space usage and reducing waste.
• Flexibility: Building spaces should be designed to be flexible and adaptable to accommodate changes in building occupancy or usage over time.

Overall, effective asset and space management principles can help optimize the use of building resources, reduce costs, and improve the overall functionality and value of buildings.

Assignment Objective 2: Justify the importance of practicing an efficient economic value of asset life cycle with relation to building maintenance management.

Practicing an efficient economic value of asset life cycle is crucial for building maintenance management for several reasons:

1. Cost Savings: An effective asset life cycle management strategy can help building owners and facility managers reduce maintenance costs by optimizing the timing and scope of maintenance activities. By regularly assessing the condition of building assets and identifying maintenance needs early, managers can prioritize repairs and replacements to avoid costly emergency repairs or premature replacements.
2. Improved Performance: A well-planned asset life cycle management strategy can help ensure that building assets are performing at their optimal level, minimizing downtime and disruptions to building occupants. By identifying and addressing maintenance needs proactively, managers can ensure that building systems are operating efficiently, reducing energy waste and operational costs.
3. Compliance: Many building assets are subject to regulatory requirements, such as safety inspections, environmental standards, or accessibility regulations. An effective asset life cycle management strategy can help ensure compliance with these regulations, avoiding penalties and legal liabilities.
4. Asset Sustainability: By extending the useful life of building assets through effective maintenance and repair strategies, managers can reduce waste and promote sustainability. This approach can minimize the environmental impact of building operations, reduce the need for new asset purchases, and promote a culture of responsible resource management.

Overall, an efficient economic value of asset life cycle is critical to building maintenance management because it can help managers optimize maintenance activities, improve building performance, ensure compliance, and promote sustainability. By prioritizing effective asset life cycle management, building owners and facility managers can ensure that their assets remain in good condition and continue to provide value over the long term.

Assignment Objective 3: Integrate the related act and regulations that govern asset management and space management practice in Malaysia.

In Malaysia, asset management and space management practices are governed by various acts and regulations. The key acts and regulations are as follows:

1. National Land Code 1965 (Act 56) – This act governs the ownership and transfer of land in Malaysia.
2. Strata Titles Act 1985 (Act 318) – This act governs the ownership and management of stratified properties, such as apartments and condominiums.
3. Land Acquisition Act 1960 (Act 486) – This act provides for the acquisition of land for public purposes, such as for infrastructure development.
4. Town and Country Planning Act 1976 (Act 172) – This act governs land use planning and development control in Malaysia.
5. Street, Drainage and Building Act 1974 (Act 133) – This act provides for the regulation of street, drainage and building construction in Malaysia.
6. Uniform Building By-Laws 1984 – These are regulations that provide for the construction and maintenance of buildings in Malaysia.
7. Environmental Quality Act 1974 (Act 127) – This act provides for the regulation and control of environmental pollution in Malaysia.
8. Occupational Safety and Health Act 1994 (Act 514) – This act provides for the regulation of workplace safety and health in Malaysia.
9. Public Land Transport Act 2010 (Act 715) – This act provides for the regulation of public land transport services in Malaysia.
10. Securities Commission Malaysia Act 1993 (Act 498) – This act establishes the Securities Commission Malaysia, which regulates the securities and capital markets in Malaysia.

In addition to these acts and regulations, asset management and space management practices in Malaysia are also governed by various guidelines and codes of practice, such as the Malaysian Valuation Standards, the Malaysian Property Standards, and the Malaysian Institute of Estate Agents Code of Practice.

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