Study Asset Management, Asset Management Schools
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An asset is an item of economic value, which is convertible to cash, owned by an individual or corporation. Authorities have classified it as current asset in cash and other liquid items; long-term asset as real estate, plant and equipment; prepaid and deferred asset in the form of expenditures for future cost such as insurance and rent; and intangible asset such as trademark, patent or copyright. An Asset Management, therefore, is the professional management of an asset or group of assets or, according to business management experts, the investment management of collective investments.
Asset management is already an old item in many business operations. It began as a form of fund management for private clients in banks in 1832, and was fully expanded in 1869 as an outgrowth of asset servicing. The investment of trust assets in common stocks among some banking institutions in 1933 became the precursor to modern asset management, resulting in the adoption of a broad set of management capabilities in various banks. Today it plays a very important role in business because it enables businessmen to manage their assets that have already been invested in business.
Asset Management is now a program of study in many collegiate institutions offering certificates, undergraduate and graduate degrees. This, in some instances, is aimed at acquainting property managers with preserving and protecting assets, providing students to undertake studies in the development and implementation of management policies, or with advanced learning in asset and facilities management, and ultimately producing graduates who are competent to ensure that the people, system, processes and resources in the management of assets are in place.
Its areas of study in many colleges involve Design and Construction, Emergency Preparedness, Energy Efficiency, Facilities Management, Corporate Finance and Risk Management, Business Planning and Feasibility, Revenue Management, Goals of Asset Management, Asset Management Tools, Property Management Changes, Players of Asset Management, Property Surveillance and Inspection, Bankruptcy, Foreclosure, Strategic Asset Management, Facilities and Asset Performance, Facilities Program Management, Integrity and Reliability Management, Asset Management Framework, Asset Disposal and Development, Roles and Issues in Asset Management, Management of Technology and Innovation, Managerial Finance, Asset Management Risk and Plan, Financing and Re-financing, and Leasing Strategies. Various seminars on Asset Management are also held in some school campuses and workplaces on such subject areas as Asset Management Essentials, Buying Vs. Leasing, Distressed Property, and Bad Investment Decisions. A postgraduate degree program on Business and Engineering Asset Management combines the technical issues on asset reliability, safety and performance with the skills acquired in financial management.
Career opportunities are easy to find for graduates of Asset Management courses in various industries like energy, manufacturing and transportation, and in government agencies and utilities. They can also fit the positions of business manager, risk and safety manager, quality manager, management consultant, asset manager, systems engineer, project manager, design manager, plant and operation manager, maintenance manager, procurement manager, and reliability manager.