Assets are the items which hold the strength of a school, trust, district or organisation. Without them, the school cannot function efficiently and devalues its worth. That’s why it’s so important to track and manage all assets effectively and accurately. The best way to do that is by implementing an Asset Life Cycle Management Strategy.

Quick test! Do you know…

  • what assets you have?
  • where your assets are?
  • their condition at any given time?
  • when your assets need replacing?

Tracking your assets will help plan for future asset strategy, provided services and maintain compliance.   

What is School Asset Management?

As we all know, your school assets have value. It’s important to protect and manage that value within your school, trust or district.

Planning Asset Management Life Cycle

Asset Management is the active, coordinated process of identifying and nurturing your assets’ value. It’s important to track this at school and trust/district level to maintain and prove compliance.

Thanks to advancing technology, Asset Management is now much easier with software solutions. The government actively encourage schools and trusts/districts to invest in these solutions to achieve continuity and to report on accurate, live asset information.

Why is Asset Management necessary?

The goal of Asset Management is simple – to optimise the delivery of all assets in the most cost-efficient way.

It’s important to ensure you expertly maintain your assets, IT and inventory to ensure you get the most for your money. However, without a high-quality Asset Management solution, it’s impossible to track and determine the status of your assets. Not to mention, how are you going to evidence to your board of directors, governors, trustees and government inspectors that you’re keeping asset compliance and justify asset purchases?

By implementing an asset management strategy, you can accurately track all asset changes including, their location, owner, history and configuration throughout its life cycle.

Asset Management Solutions, like Parago, help you to determine the cost of keeping an asset against its current worth. Our solution is complete with dashboards and reporting areas, so you can instantly prove return of investment and justification of all decisions.

What is Asset Life Cycle?

An asset lifecycle is the series of stages involved in the management of an asset. It starts with the planning stages when the need for an asset is identified and continues all the way through its useful life and eventual disposal.

Read more: The Five Stages of Asset Life Cycle Management

There are many components that affect the value of an asset throughout its cycle:

  • Age
  • History
  • Cost
  • Depreciation periods
  • Risk analysis

It’s vital for your Asset Management solution to give you a live snapshot at any point in your assets’ life cycle. This’ll enable you to make informed decisions, based on the parameters above, and to track its value throughout its different stages to ensure maximum efficiency.

Benefits of Asset Life Cycle Management: 

  • A proper Management Solution system will assist you in making informed purchase order decisions.
  • The management will improve the quality of IT services in your schools.
  • You will know the total cost of ownership of an asset at every given time.
  • You can always maintain and prove asset compliance.

Find out more…

Learn how Parago can help your school, trust or district to comply and implement a high-quality Asset Life Cycle Strategy to help you save time and money.

Book a demo and trial our software

We’re confident that you’ll be impressed by our user friendly software. Book a free demonstration to see how Parago can assist your school or multi academy trust.

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School, academy and MAT asset management software

Over a decade of collaborative feedback from IT technicians, premises managers, to finance directors in academies and MATs has resulted in a system that helps you share resources, stay compliant, manage contracts and prevent unnecessary expenditure.

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