Construction
Asset Governance in Construction
The construction industry relies on a vast inventory of high-value plant, machinery, tools, and materials spread across multiple sites and constantly moving between projects. Asset governance is critical for maintaining operational efficiency, meeting HSE compliance, managing insurance liabilities, and reducing losses from theft or misplacement. Without a clear register, organisations face costly equipment downtime, duplicate purchasing, and difficulty proving asset value at end of project or contract.
Example Assets
| Asset | Approx. Value | Ownership | Location | Insurance Consideration |
|---|---|---|---|---|
| Excavators & Plant Machinery | £80,000–£500,000 | Plant Manager / Site Manager | Active project sites, often rotated | Covered under plant all-risk policies – easy to miss off-hire gaps |
| Scaffolding & Formwork | £10,000–£150,000 per set | Site Supervisor | Split across multiple live and stored sites | Often underinsured due to lack of tracking |
| Power Tools & Survey Equipment | £500–£15,000 per item | Individual operatives or hire store | On-site, in vans, or at depot | Frequently missed – high theft risk |
| Site Welfare Units & Cabins | £5,000–£30,000 | Site Manager | Project sites | Typically insured but rarely tracked post-project |
| Vehicles & Telehandlers | £25,000–£120,000 | Fleet / Operations Manager | Multiple sites or in transit | Fleet policies, but utilisation rarely tracked |
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