What Is EAM?
The Enterprise Asset Management (EAM) Program is being developed to enable the strategic management of assets (facilities, equipment, land, space, leases), resources, and technology through process and systems redesign. We will leverage the best of what already works here at the U along with leading industry practices to help shape our future asset management program across all U of M campuses.
Why This Matters @ the U
Caring for the University of Minnesota's campuses, facilities, equipment and space (assets) is a big responsibility. Our University, daily hosts thousands of students (70,000+), faculty and staff (25,000+), and visitors, who expect our campus to be functional and welcoming. Our five campuses total 29+ million gross square feet and 400+ buildings -- a large (asset) investment and expense to our University. Our large and complex campus presents us with a challenge of how to effectively manage different types of assets.
To meet the continuing challenge of tighter budgets, caring for more complex facilities, and integrating information for use by the greater University community, we are launching the discipline of enterprise asset management (EAM). EAM will bring together the many business processes, the many supporting technologies, the many data elements, and allow us to have standardized processes, a shared technology platform, and integrated data. By aligning these things, we will make better decisions to help us prolong our facilities and buildings, effectively use our resources, and reduce our costs.
How will EAM help?
A few benefits of EAM:
- Aligned processes, people, and information across the University
- Optimization of physical space and assets
- Aligns with stakeholder vision for planning and managing budgets, portfolios, and operations
- Significant ($MM) potential savings post-implementation