Certified Facility Manager (CFM) Practice Exam 2025 - Free Practice Questions and Facility Management Study Guide

Managing facility assets involves overseeing a variety of factors that contribute to their efficiency, longevity, and overall performance. Keeping track of their lifecycle stage and maintenance is a crucial aspect of this management process. Each asset goes through a lifecycle that includes stages such as acquisition, utilization, maintenance, and eventual disposal or replacement. Understanding where an asset stands in this cycle is essential for effective decision-making regarding repairs, upgrades, or replacements, which ultimately affects the operational costs and effectiveness of facility management.

Proactively managing maintenance based on an asset’s lifecycle can prevent issues that lead to downtime or costly repairs. It enables facility managers to budget appropriately for future needs and allocate resources efficiently, enhancing overall organizational performance. Thus, the ability to track lifecycle stages and maintenance is at the heart of managing facility assets effectively.