Asset Management

Assets are the things the lab uses to create value. Labs have many different kinds of assets. The most important is the people on staff. Lab managers must invest in, effectively use, and protect the lab’s assets. Due to competing priorities, lab managers must find the right balance of investments in the assets to meet budget and deliver technical value. There can be a variety of alternatives around obtaining and maintaining the assets required by the lab. These alternatives need to be investigated to find the high-value choices. 

Learning Outcomes:

• Provide examples of the different kinds of assets available in the lab,
• Determine the steps involved in a capital purchase,
• Determine the alternatives that exist to obtain new instruments and equipment,
• Discover the alternatives to deliver repair and maintenance to existing instruments and equipment,
• Identify alternatives besides the trash for instruments that are no longer needed in the lab.

Assets are the things the lab uses to create value. Labs have many different kinds of assets. The most important is the people on staff. Lab managers must invest in, effectively use, and protect the lab’s assets. Due to competing priorities, lab m...