Understanding your true Asset Load

Understanding your true Asset Load

There are many different issues and tasks to juggle in the Parks and Recreation industry. Working in the field does not simply require a love of the outdoors or ability to relate well to people. You also need to constantly stay informed and on top of the upkeep and management of whatever properties or facilities are in your care. One way you can do that is by consistently keeping track of your asset loads.

What is an asset load?
The term “asset load” refers to the cumulative costs associated with a particular asset, such as parks, fleet or a piece of equipment. You may think the cost of that asset is fairly obvious, but you have to think in both short-term and long-term ways when calculating the total cost. For example, an asset could have costs associated with any or all of the following:

  • Initial Purchase
  • Regular Maintenance
  • Staffing Costs Associated with Labor Needed to Maintain the Asset
  • Depreciation

Asset Loads and General Budgeting
There are many problems with trying to loosely estimate asset loads. One is you may simply have too many assets to track without a specific tracking system. Another is forgetting to factor in even one cost related to a certain asset can cause your estimate to be completely inaccurate. The asset load you think a particular asset has and its true asset load may be vastly different. Tracking asset loads using special software allows you to quickly and accurately assess true asset loads. Then you can use that information to create annual budgets and juggle the maintenance of multiple assets.

Replacement Scheduling Using Asset Loads
One of the most important reasons to track asset loads is to keep the costs of individual assets under control. When costs become excessive it is a sign that you might need to replace or otherwise update those assets. In fact, you might notice patterns as you track the data. Those patterns can help you set up a schedule for replacing certain assets, such as vehicles or maintenance equipment, based on more than just projected lifespan.

Asset Loads and Staffing Control
Monitoring and management of asset loads is also important because it can help you with staffing control. When you have clear records of labor hours spent you can identify departments that are under or over staffed. That can give you hard data to show the need for added staff or assist in reassigning certain staff members to departments where assets have high maintenance needs and staffing is currently in short supply.

Asset Load Type Assessment
A final important aspect of asset load tracking is assessing the types of loads associated with certain assets. For example, a certain asset may require more manpower to maintain than another, meaning its labor costs could be higher in comparison. On the other hand, some assets may not be labor intensive but incur a high level of other expenditures. Inventory management is also easier when you track asset loads carefully. You can figure out what parts you need to keep on hand to repair certain assets on a regular basis or when you need to order various inventory items when you track asset load data over time.