Strategic Asset Management

By implementing a strategic approach for long-term maintenance and operation planning asset management can better align physical assets with an organization’s general business goals. Rather than relying on available budgets or estimating the future requirements strategic asset management allows decision makers to use information about condition and ensure that service level requirements are in line with budgetary goals for sustainable facilities and infrastructure.

This method is based on a group with a shared vision. This means that the people who operate and maintain your assets are a crucial element of the process since they are familiar with your equipment inside out. They can provide valuable information into how you can improve your procedures and processes, which can have a significant impact on your asset management program. This will help ensure buy-in, and that everyone is on the same page when formulating your strategy.

A solid strategic asset management plan begins with identifying and cataloging every asset you own, as well as their locations and their conditions. This helps you determine the most important assets in your inventory and boardeffect main benefits make a list of the maintenance priorities. This can be used as information to implement a range of other initiatives, including simplifying work orders, increasing uptime and improving reporting.

Assessing the impact of asset-management decisions on your community is another essential component. This includes weighing the immediate cost against the benefits and savings over the long term and assessing the impact on the environment.


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