CAFM

 View Only
Mullen Commercial
Back to discussions
Expand all | Collapse all

Asset Management Module Discussion Thread

  • 1.  Asset Management Module Discussion Thread

    Posted 09-19-2019 10:51
    Hi-
    Please use this thread for any questions or discussions regarding the Asset Management Module.
    Thanks,
    Chris

    ------------------------------
    Chris Goyette
    Senior Manager Chapter & Industry Relations
    Princeton NJ
    (609) 986-1047
    ------------------------------


  • 2.  RE: Asset Management Module Discussion Thread

    Posted 09-27-2019 10:36

    Hello CAFM candidates and welcome to the CAFM community. This portal will give you direct access to other certification candidates and to the Certification Content Committee. My name is Mike Wilson and I am the module owner for Asset Management. This means that I am the lead in keeping the Reference Guide, Study Guide and exam questions for this module up to date. I completed my CAFM in August of 2013. I have been the Fleet Manager at the University of Iowa since 1999.  If you have attended the Asset Management Boot Camp at any of the last several I&E's you have probably seen me as I teach part of that class. 

    My top study tip for you all is use the Study Guide.  All of our questions for the test come from the Study Guide. That is not to say they are worded exactly the same, but we do not ask any questions on topics that are not in the Study Guide. 

    Going forward, I am happy to answer any questions you may have (except specific exam questions, of course). I will also occasionally post a small quiz or comment on the material to generate some discussion and interaction. I wish you all success in the program!



    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 3.  RE: Asset Management Module Discussion Thread

    Posted 10-14-2019 11:48
    Hello Everyone-  Happy Monday!!

    The first module of the Asset Management discipline is Strategic Sourcing.  Unless you work in Purchasing, you are probably unfamiliar with that term.  Our guide defines Strategic Sourcing as ..."an organizational procurement and supply management process used to locate, develop, qualify and employ suppliers that add maximum value to the buyers products or services."   Understanding that definition can help you understand many of the questions you could be asked in this section of the CAFM exam.

    Good luck studying!!

    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 4.  RE: Asset Management Module Discussion Thread

    Posted 11-01-2019 10:55
    Hello Everyone!

    One content area of the Asset Management module is the procurement of vehicles.  The guide talks about buying, leasing, employee reimbursement, etc.   What I am wondering is if anyone goes beyond those traditional methods?  Does your organization offer car sharing, vehicle subscription services or other non-traditional, mobility related methods of providing transportation services?  If so, I'd like to hear from you. 

    We may use your experience in future updates the Asset Management guide in order to provide the most current and relevant information.  Thank you!!

    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 5.  RE: Asset Management Module Discussion Thread

    Posted 05-18-2022 01:20
    Hi Michael,  Our company has increased the rental of vehicles and equipment due to the budget limitations of having extra assets around under utilized.  We usually will rent up to the point were it makes sense to buy.  At this time with the shortages and delays, we are renting vehicles and equipment more often.  I am also noticing that the quality used equipment market is becoming depleted as the rental fleets that usually cycle their units every 3 or so years are holding on to them longer.

    ------------------------------
    Devin Kassbaum
    General Pavement Management, Inc.
    Thousand Oaks, CA
    ------------------------------

    Original Message


  • 6.  RE: Asset Management Module Discussion Thread

    Posted 11-11-2019 15:13
    Hello Everyone-

    One section of the Asset Management module discusses ways of procuring vehicles. The Guide discusses several of these methods.  One method that is discussed is employee reimbursement.  Based on the information provided in the text, would this be a good method for procuring vehicles when image is important to the organization.

    Please respond back to this message with your thoughts on why or why not employee reimbursement would be a good method in this situation. 

    As always, let me know if you have any questions about his module and I would be happy to help you!!

    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 7.  RE: Asset Management Module Discussion Thread

    Posted 08-02-2020 21:34
    Hello, 

    Employee reimbursement would not be a good method if image is important to the organization since there would be little control over what vehicles are being used. 

    Tania

    ------------------------------
    Tania Hernandez
    CPS Energy
    San Antonio TX
    (210) 439-8662
    ------------------------------

    Original Message


  • 8.  RE: Asset Management Module Discussion Thread

    Posted 05-18-2022 01:30
    I think that employee reimbursement would not be a good fit for this situation.  Yes you could set guidelines for what is acceptable on vehicle choice and condition, but you could create perception issues.  For example: you may not want your asphalt sales estimator showing up to prospective client meeting in a S Class Mercedes. This potential customer could perceive that they are paying the higher price for the work to fund your ride not for a better product or service.  This is important when you are charging your customers near the top end of the industry standard to justify your added quality or ethics and customer service.  Thoughts?

    ------------------------------
    Devin Kassbaum
    General Pavement Management, Inc.
    Thousand Oaks, CA
    ------------------------------

    Original Message


  • 9.  RE: Asset Management Module Discussion Thread

    Posted 12-09-2019 13:03
    Hello Everyone-

    According to the Asset Management Module (Specification Types and Development competency), there are several mistakes you can make when developing specifications for a vehicle.  One of those mistakes is duplicating the specification of old units.   

    There are several reasons using the exact same specification is a mistake:
    • One is that the work may have changed and the old vehicle can no longer do the job effectively or efficiently.
    • Another is that even though the vehicle with the old specification may still do the job, there may be improvements offered by the manufacturers that you could be missing out on. Things like new safety features, newer transmissions, or emissions features.
    It is ok to use the old specification as a starting point, but make sure to talk to your user to see if the old vehicle is still doing the job. Also talk to your vendors to see what is new that you could include in the specification to make the vehicle safer, more efficient and more effective.  

    Good luck with your CAFM studies and please let know if you have any questions about the Asset Management module.

    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 10.  RE: Asset Management Module Discussion Thread

    Posted 01-13-2020 10:16

    Hello Everyone-

    I wanted to talk about something that is mentioned in the Asset Management Module that may be easy to overlook. There is a discussion in the module about the benefits that vehicle dealerships derive from working with Fleets.  One easy to understand benefit for the dealers is that they get the increased volume by selling to fleets. 

    Another benefit for dealerships is the opportunity to sell repair services to the fleet. If the fleet has their own shop and doesn't need service from the dealership that fleet may be able to leverage that relationship into an agreement for discounted parts.  This can benefit the Fleet Manager as well as the dealership. 

    This is something to keep in mind when negotiating vehicle purchases with your dealers. 



    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 11.  RE: Asset Management Module Discussion Thread

    Posted 02-10-2020 09:55
    Hello Everyone-

    As we know from Chapter 4 of the Asset Management Study guide there are 3 different types of specifications that you use when working with vendors to acquire vehicles.  They are:  Performance, Design, and Proprietary.  There is also a 4th type that is mentioned in the guide called Hybrid.  A Hybrid specification combines the elements of the main three specifications types into one specifications.   As the Guide mentions, this type of specification works best for specialty vehicles that are built in multiple stages where a body and other equipment is built and mounted on a cab and chassis. 

    When I am developing specifications for vehicles, I generally use a Hybrid type of specification.  My most recent example of this are three 26' straight trucks that are currently out for bid.  For the Proprietary section of the specification I required a Cummins engine and an Allison transmission.  Both of these are standards in my fleet in order to minimize our parts inventory and to maximize the efficiency of our technicians.  The Performance section of my specification included a GVWR requirement as well as axle weight and passenger carrying requirements. 

    Have a great week and let me know if you have any questions regarding the Asset Management module of the CAFM materials.

    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 12.  RE: Asset Management Module Discussion Thread

    Posted 03-16-2020 11:35
    Hello Everyone-

    Regarding vehicle leases there are many different names that get tossed around.  Things like finance leases, open end leases, closed end leases, TRAC leases, etc. How do you keep them all straight?

    Well, as the Asset Management Guide discusses in Chapter 5, there are really only two main types of leases; capital leases and operating leases.  By answering 4 questions, you can tell which type of lease you have.  Those 4 questions are:

    • Does the ownership (title) transfer at the end of the lease?
    • Does the lease contain an options to purchase the vehicle at a bargain price?
    • Is the term of the lease at least 75% of the estimated economic life of the asset?
    • Is the present value of the future minimum lease payments at least 90% of the fair market value of the vehicle?
    If you answer yes to any of those questions, then this is a capital lease. If the answer to all 4 questions is no, then this is an operating lease. 

    Therefore almost any other lease types you may come across are just sub-types of the capital and operating leases.

    If you have questions about this topic (or any other topic) please post and we'll discuss.

    ------------------------------
    Michael Wilson
    Fleet Services Manager
    University of Iowa
    Iowa City IA
    (319) 335-5088
    ------------------------------

    Original Message


  • 13.  RE: Asset Management Module Discussion Thread

    Posted 08-02-2020 21:47
    Hi Michael, 

    I am stuck on the fourth bullet, could you provide an example?

    Tania

    ------------------------------
    Tania Hernandez
    CPS Energy
    San Antonio TX
    (210) 439-8662
    ------------------------------

    Original Message