Project Management Built for Capital Assets
Connect Projects to the Assets They Impact
Projects link directly to sites, buildings, systems, and assets—when work completes, asset records update automatically. Track task dependencies, monitor budget variance, and see real-time health metrics at a glance.
Why AssetLab Project Management Is Different
Every project connects directly to the physical assets it affects—no more disconnected spreadsheets
Traditional Project Management
- Projects tracked in Excel, assets tracked separately
- No connection between project completion and asset records
- Manual updates to asset condition after work completes
- Guessing which assets are part of which projects
- No automatic asset tagging or lifecycle updates
AssetLab Asset-Linked Projects
- Projects directly linked to sites, buildings, systems & assets
- Asset records auto-update when projects close out
- Condition scores & purchase dates sync automatically
- See exactly which assets are impacted by each project
- Full traceability from project → work order → asset
Real-World Example
A $2.4M HVAC Modernization Project is scoped to Main Campus → Building A → Chiller System. AssetLab automatically pulls in all 12 assets in that system. When the project closes, condition scores reset to 100%, purchase dates update to today, and lifecycle tracking restarts—no manual updates needed.
Real-Time Project Health Metrics
Instant visibility into budget variance, schedule variance, and completion status
HVAC Replacement - Building A
On TrackHow Health Status Is Calculated
Budget variance < 5%, schedule within ±3 days, no overdue critical milestones
Budget variance 5-10%, schedule 3-5 days behind, some overdue milestones
Budget variance > 10%, schedule > 5 days behind, critical milestones overdue
Everything You Need to Manage Capital Projects
From task dependencies to budget forecasts, all in one place
Tasks with Dependencies
Create tasks, subtasks, and blocking dependencies. Task B can't start until Task A completes. Track assigned users, due dates, and completion percentages.
Budget Planning & Tracking
Set planned budget by category (labor, materials, equipment). Track actual costs as invoices come in. See budget variance in real-time with cost snapshots.
Milestone Management
Define critical project milestones with due dates. Track completion status. Flag milestones as critical to trigger health alerts if they slip.
Team Collaboration
Assign project managers and team members. Track active vs inactive participants. See who's responsible for each task and milestone.
Project Updates Feed
Post regular updates on configurable schedules (monthly, quarterly, bi-annually, annually). Track missing periods. Keep stakeholders informed.
Completion Workflow
On project closeout, automatically update all linked assets. Reset condition scores to 100%, update purchase dates, restart lifecycle tracking.
Project Lifecycle in AssetLab
From planning to closeout, every phase connects to your physical assets
Define Project Scope
- Select sites, buildings, systems, or specific assets in scope
- Set total budget and break down by category (labor, materials, equipment)
- Define start date, end date, and project manager
- Create critical milestones with target dates
Example: "Chiller Replacement Project" is scoped to Main Campus → Building A → HVAC System. AssetLab automatically identifies the 3 chillers, 8 air handlers, and 12 thermostats in that system—all linked to the project.
How Teams Use Asset-Linked Project Management
"We used to track capital projects in Excel and update asset records manually after completion. Missed updates all the time. Now when a project closes in AssetLab, the asset records update automatically. Our asset register is finally accurate."
"The task dependency feature saved our $8M renovation. We had 140 tasks across 6 phases. AssetLab showed us which tasks were blocking others. When electrical fell behind, we immediately saw 23 downstream tasks would be delayed. We adjusted resources before it cascaded."
"Real-time budget variance is a game-changer. We used to discover overruns at month-end. Now we see it daily. If a project hits 8% over budget, management gets an At Risk alert. We've caught budget issues 3-4 weeks earlier than before."