Property and asset management refers to a set of management activities and methods that are used for the optimal management of the organization’s property, assets and resources. The main goal of property and asset management is to preserve, exploit and create value from the organization’s property and assets.

Property management includes the following:

Evaluation and classification of property: In this stage, the property and assets of the organization are evaluated and classified. This includes identifying and categorizing property, determining value, determining physical condition and useful life of property.

Planning and decision-making: In this stage, property management plans and strategies are determined. This includes deciding on property maintenance, determining maintenance and renovation rates, buying and selling property, and determining maintenance policies.

Monitoring and maintenance: In this stage, properties and assets are monitored and maintained. This includes periodic and continuous review of the activity and condition of the property, periodic and preventive inspection and maintenance of breakdowns, and monitoring the optimal use of the property.

Purchase and procurement management: In this stage, the processes of purchasing and procurement of property and assets are carried out. This includes purchasing planning, procurement of property and assets, conducting contract negotiations, quality control and compliance with relevant laws.

Deviations and performance evaluation: In this step, deviations from plans and performance of property and assets are evaluated. This includes analyzing the causes of deviations, determining corrective and improvement measures, evaluating the performance of properties and assets, and analyzing the trends of costs and revenues.