Asset Preservation

Asset preservation refers to the proactive and strategic efforts undertaken to protect and maintain the value, functionality, and lifespan of built assets over time. These assets can include buildings, infrastructure, facilities, and any other constructed elements delivered as part of a construction project. Asset preservation is an essential aspect of long-term responsibility for completed projects and involves various activities and strategies aimed at preventing deterioration, minimizing wear and tear, and extending the useful life of the constructed assets. The goal is to ensure that the assets continue to perform as intended, meet regulatory standards, and provide optimal value to their owners and users throughout their lifecycle. Key components can include regular maintenance, condition assessments, preventive measures, upgrades and modernization, compliance and regulatory requirements, asset management, lifecycle cost analysis, and collaboration and communication with property owners.