Construction asset management: Effectively track your assets!

Posted on February 7 2024

Reading time: 4 minutes

In the construction industry, cranes and lifting equipment are essential assets that enable workers to lift and transport heavy loads, install structures, and perform other critical tasks.

However, the management of these assets can be complex, particularly on large construction sites with multiple cranes and work areas.  So why is efficient management of these construction assets important?

Construction asset management with construction cranes

The importance of construction asset management 

Efficiently managing and tracking cranes and lifting equipment is crucial for successful construction projects. The complexity and high risk associated with these assets make it essential to implement best practices for their management and maintenance.

1. Segmentation according to work sites 

Segmentation of cranes and lifting equipment according to work sites is crucial for efficient asset management. By dividing these assets into categories based on their intended use, you can optimize the allocation of resources and reduce idle time. 

For example, cranes that are used for heavy lifting can be assigned to areas where large materials or equipment need to be moved, while cranes that are used for transporting materials can be assigned to areas where materials need to be transported across the site. 

By segmenting assets in this way, you can reduce the amount of time it takes to transport materials or move equipment and ensure that the right crane is used for the right job.

2. Maintenance management 

Maintenance management is another critical aspect of efficiently managing and tracking construction assets. Regular maintenance of cranes and lifting equipment is essential to ensure that they operate safely and efficiently, and to prevent breakdowns or accidents. 

It is important to elaborate on a maintenance schedule that includes regular inspections, repairs, and replacements so that you can minimize the risk of unexpected downtime and extend the lifespan of their assets. This will also allow you to maximize the safety of workers at the work site, which is a crucial aspect of construction. 

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3. Follow-up of repairs and consumables 

By tracking repairs and consumables, such as fuel, lubricants, and spare parts, you can reduce downtime and optimize crane performance. For example, by tracking fuel consumption, you can identify areas where fuel is being wasted and take steps to reduce fuel consumption, such as by optimizing routes or reducing idling time. 

Similarly, by tracking the use of consumables such as spare parts, you can identify areas where there are inefficiencies or waste, and take steps to reduce consumption or optimize inventory levels.

4. Avoiding accounting problems with efficient construction assets management

dossier de comptabilite sur ordinateur et telephone

Efficient tracking and management of construction assets are not only important for optimizing crane performance and reducing downtime, but it is also crucial for avoiding accounting problems. Inefficient tracking can lead to errors in accounting and financial statements and can cause significant losses to the company. 

For example, if a crane is stolen or misplaced due to inefficient tracking, you may not be able to account for it properly in your company’s books. This can lead to discrepancies between physical inventory and accounting records.

Moreover, theft of construction equipment is a major problem in the industry, and cranes and lifting equipment are prime targets for theft due to their high value. So, without efficient asset tracking, you may not be able to identify missing assets or detect theft until it’s too late.

That is why it is important to track and manage cranes and lifting equipment on your work sites so that you ​​can minimize the risk of errors, reduce losses due to theft, and achieve your financial objectives efficiently and effectively.

C’est pourquoi il est important de suivre et de gérer les grues et les équipements de levage sur vos chantiers, afin de minimiser le risque d’erreurs, de réduire les pertes dues au vol et d’atteindre vos objectifs financiers de manière efficace et efficiente.


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How to efficiently manage and track cranes and lifting equipment for construction?

1. Understanding the lifespan of your construction cranes and lifting equipment

Understanding the useful life of cranes and lifting equipment is essential for effective asset management and tracking. By knowing the expected lifespan of your equipment, you can plan for maintenance and replacement cycles, and make informed decisions about when to replace aging assets. 

This knowledge can help you avoid costly breakdowns and repairs, and ensure that you are maximizing the value of your assets over time. Additionally, understanding the useful life of equipment can help you make more informed decisions about when to purchase or lease new equipment, and how to allocate resources effectively.

2. Use construction asset management and tracking software

One of the most effective ways to manage and track cranes and lifting equipment is by using construction asset management and tracking software

This software allows you to monitor the location and status of each asset in real-time, and receive alerts when equipment is moved or used outside of designated areas. 

The software can also help you track maintenance schedules and service history, and generate reports on asset utilization and performance. This is very important to know when to replace or repair equipment, but also to know when safety equipment needs to be changed. In this way, you make sure you keep your equipment up to date for the safety of your employees.

Hector construction asset management and tracking software

Hector is a construction asset management and tracking software that is adapted to small, medium, and large companies. It allows you to keep track of your expensive construction assets, by identifying everyone in your inventory to increase the efficiency of your operations and get a better performance. 

You don’t need any IT professionals in-house to keep the system running. Our software is conceived to be easy to use because we understand the needs of our clients and the importance of simplified access to critical information on inventoried assets. 

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