How To Create A Built Asset Register

Without an up-to-date and accurate register that contains important information on each asset, it can be difficult to fully maintain your building and ensure its compliance.  

When creating a built asset register for the first time, it’s crucial that you get it right. That’s why SFG20, the industry standard for building maintenance specification, have produced this all-encompassing guide which has left no detail overlooked.  

Below, you’ll find a step-by-step process to follow to help you prepare a built asset register with accuracy. 

How To Create An Accurate Built Asset Register  

The common approach to creating built asset registers in the UK is to follow BS ISO 55000 Asset Management and its sister publication BS ISO 55013:2024 Asset Management, with the CIBSE DE:5 Asset Information Requirement template also being a good starting point.

If you are adopting a BIM (Building Information) approach, then reference should be made to BS ISO 19650-3 which covers the operation phase of built assets (further guidance can be found through the UK BIM Framework).  

The Government Property Function has produced standards that are of great use, with the following accompanying documents including the Facilities Management Standard - FMS 002: Asset Data Maturity Tool Guidance Document and the Government Function: Property - Data Standard - GovS004-PDS010 also being highly beneficial to refer to.   

1. Define Your Asset Capture Policy 

You’ll need to start by establishing a minimum value threshold for the assets that will be included in your built asset register.  

To do this, you'll need to determine what your organisation considers “value” to be, and to choose how to manage your assets to derive the best total value.  

It’s important to note that “value” does not pertain to financial value, but rather the tangible, broader value that each asset brings to your organisation and the risk associated if it were to fail.  

Each asset has an individual value that adds to the total value of your property. This total accumulated value will be site-specific. 

Once you have determined how many assets you have, you can start to populate your register with detail – every asset will need to be captured, right down to the smallest of items such as a pump.  

Now, you’ll be able to define the form, structure and meaning of the asset data that will provide you with a complete picture to manage them.  

The form (data fields) refers to the key information or the types of data that will be required to maintain and manage each asset.  

The structure looks at the data taxonomy (a system of organising data into categories) and the related asset hierarchies.  

As part of the data assurance and quality process, you should be clear on the format, meaning and level of data required within each field. This policy ensures that only critical assets are tracked, keeping focus on those that contribute to operational efficiency and add value to your organisation.  

The absence of certain assets on the register and the failure to manage them can lead to non-compliance (compliance relates to health and safety legislation that protects life and preserves property, both of which are required by any organisation to function productively).

2. Establish Unique Asset Codes 

Next, you’ll need to give each asset within your built asset register a unique identification code which can be a combination of letters and numbers. 

The purpose of this is to help you easily track and reference assets within the register as well as provide quick access to information.  

3. Create Asset Groups 

To support Planned Preventative Maintenance (PPM) scheduling, Facility Managers can create asset groups, which are not included in the asset register but utilise its data. 

These groups can be formed based on various criteria to cluster similar assets for maintenance.  

For example, an asset group might include all on-site boilers for compliance checks.  

4. Conduct a Comprehensive Collection or Audit Activity

The next step is to perform an asset capture or physical audit of all assets within your building.  

The collection activity should include the data acquisition, gathering and creation process, learning from lessons of previous similar activities. 

This involves visiting the site to identify and verify each asset against existing records to ensure accuracy in the asset register. 

You’ll need to ensure that you have a robust systematic methodology to record the information you have collected, such as on paper or in digital format.  

To assist in the capturing or validation of the information, you can use technology such as barcodes or QR codes on the assets, photographs or point cloud surveys supported by photogrammetry. 

5. Gather Essential Asset Information 

A built asset register typically contains detailed information about each asset. You will need to collect the following information for each asset: 

• Description and identification number 

• Barcode or Serial Number of assets 

• Purchase information (price, date, order number) 

• Location within the building 

• Size and specifications 

• Maintenance requirements and intervals 

• Supplier and installer details 

• Current value and condition 

• Health and safety information 

• Insurance information 

• Warranties and service level agreements 

• The remaining life of the asset 

• Estimated Resale Value (Salvage Value) of the asset  
  
  

 6. Choose Your Built Asset Register System  

Once you’ve compiled all of your assets and the information required for each asset, you’ll be ready to decide on where to store it all.  

It’s important to select an appropriate data storage format where information can be secured, managed, easily retrieved as well as archived or disposed of where necessary.  

For ease of access, communication, auditing, and updating, we recommend housing all of your collected data digitally such as through BIM (Building Information), AIM (Asset Information Management) or CAFM (Computer-Aided Facility Management) software. 

Special consideration should be given to data ownership – this should always remain with the client irrespective of whether it is stored on a third-party device.   

Contractual provision should also be made to ensure that your building asset register can be recovered intact (preferably at zero cost) when contractual relations cease. 

7.  Create Your Built Asset Register  

Once you have selected an effective built asset register system, it’s time to set it up to meet your organisation's specific needs.  

In classic Data Lifecycle Management, there are several sequential phases to consider. 

ISO 55013 - Guidance on the management of data assets has chosen to identify them as: 

• Define 

• Collect 

• Store  

• Report  

• Decide  

• Distribute  

• Archive 

• Dispose  

When you create your asset register, you will need to follow an organised framework that classifies assets based on important criteria including department, location, asset type, criticality or acquisition date.    

Once the data is stored in a structured manner, analysis can be readily carried out through manual or automated extraction to create reports – these reports can then be used to support decision making.  

The value of the information created from the data should be assessed during the decision-making process, i.e. how easy is it to make a decision from it.  

In turn, any lessons or improvements to the quality of data can be fed back into the define and collect phase.   

By creating this feedback loop, it’s possible to fine-tune the data form, structure and quality, which can in turn improve reporting and decision making. 

Both the structured data and informative reports can be distributed easily to other parties who might need the information, be they contractors or regulatory bodies.  

8. Plan for Asset Disposal or Replacement 

When an asset nears the end of its useful life, a decision will need to be made on its disposal or replacement. The same needs to happen with the data in the asset register. 

Ever-improving data analysis, data mining and machine learning are all increasing the value of historical data because more information can be extracted from a larger data set. 

This fact, combined with the reduced cost of storing electronic data, reduces the necessity to dispose of data (always refer to your organisation’s GDPR policy when disposing of data). 

However, you’ll still need to know which assets are no longer active so that your data doesn’t advise you to maintain an asset that no longer exists.   

You will need to document disposal and archiving methodologies (for example selling and recycling) and update the register accordingly to maintain accurate records of all transactions.  

9. Train Staff on Procedures

It's important to ensure that all personnel involved in managing the asset register are trained on standard operating procedures (SOPs).  

To promote consistency and accuracy across the organisation, you’ll need to provide clear guidelines on how to enter data, update records and manage assets. 

10. Monitor and Update Regularly 

To ensure data accuracy and consistency over time, procedures must be regularly updated to reflect any changes in asset status, such as acquisitions, disposals or condition changes.  

You’ll also need to establish user roles, permissions, and access controls to safeguard data integrity and security. 

Why Is Accuracy So Important For Built Asset Registers? 

A built asset register that lacks a uniform, logical structure and/or contain outdated information can be cumbersome to work with and can present several problems at the post-handover stage of a building. 

Post-handover Problems For Facility Managers 

Built asset registers with inconsistent or inaccurate data can cause a lack of clarity over assets, making preparing a tender specification and creating bespoke maintenance plans for sites difficult and time-consuming. 

What is more, trying to benchmark a proposed specification of works from inaccurate information can add another resource, labour and time-intensive step to the tender process. 

Another problem is that some facility managers may have limited knowledge of current legislation, so they may not have accurate information relating to maintenance procedures. 

This combination of poor asset data and limited legislative knowledge may increase the risk of agreeing to contracts that are not legally compliant with current legislation. 

Post-handover Problems For Contractors  

Building maintenance contractors using poorly organised and limited built asset registers can face numerous problems. 

These issues can include difficulty in locating and identifying assets, poorly documented or inadequate maintenance due to missing or incorrect asset information, as well as challenges with creating accurate Planned Preventive Maintenance (PPM) programs. 

Both compliance and safety are at stake here, as contractors simply can’t maintain what they can’t locate or don’t know what exists. 

For many contractors, speed is of the essence. They have to respond quickly to tenders in order to create a competitive bid – so, if there is a poorly organised built asset register in place that lacks detailed data, this can slow down the process.  

Incomplete or disorganised built asset registers can create problems during the tender preparation process, resulting in contractors having to spend time manually reconciling fragmented asset information as well as validating and cross-referencing details.  

This can not only extend bid preparation timelines but also potentially increase the risk of submitting incomplete or inaccurate tender responses, resulting in problems later down the line.  

Post-handover Problems For Consultants 

Consultants using poorly organised built asset registers face numerous post-handover challenges that can significantly impact their work and the overall project outcomes. 

These issues include difficulty in locating assets due to illogical naming conventions or numbering systems, leading to wasted time and resources alongside reduced productivity.  

What’s more, maintenance planning may become difficult due to the lack of crucial asset information such as IDs, serial numbers and warranty details.  

Further Recommended Resources 

• CIBSE (The Charted Institution Of Building Services Engineers) - DE5: Asset Information Requirements  
• The Crown Estate – Asset Information Model Requirements  
• HM Government – Government Function: Property – Data Standard – GovS004-PDS010 
• Centre For Digital Built Britain – Asset Information Requirements (AIR) Guidance  
• NHS – Assets in action – AN ASSET MANAGEMENT GUIDE FOR NON-TECHNICAL MANAGERS 

Your Guide To Fixing Built Asset Registers 

An accurate built asset register is paramount to ensuring that all of your assets are accounted for and an effective and accurate maintenance plan can be adopted that captures the specific requirements of each asset. 

At SFG20, our number one mission is building safety. That’s why we’re dedicated to providing you with the resources and insights you need to tackle a variety of industry challenges, with one of these common issues being fixing existing built asset registers.  

If you’re a Facility Manager, Contractor or Consultant who is facing the task of repairing an existing built asset register and need some reliable guidance, take a look at our blog by clicking below.