Achieving your organization’s goals requires an understanding of your assets and how they function together. Strategic asset management provides a framework that allows for consistent, repeatable and transparent decisions and actions based on a comprehensive assessment of benefits, costs, and risk throughout the life cycle of physical assets. Find functional dependencies that can be prioritized for regular and preventive maintenance and reduce unplanned downtime. Maximize your ROI by determining the most effective combination of performance and costs across your entire infrastructure.
The process of strategic asset management is a comprehensive and extensive set of documents, processes and digital tools which align physical infrastructure investments with the overall strategic goals of the organization. It starts by conducting a thorough, top-down analysis of long-term physical infrastructure investment alternatives. This involves balancing capital expenditures and operational expenses from a TOTEX standpoint, leveraging asset conditions data, and taking current service levels and local needs into account.
If you have the right data, the process can also aid in resource planning and staffing for ongoing maintenance and operation of assets, and upgrade or replacement plans. It can also be used to simplify work orders, which can help in decreasing downtime and improving the efficiency of your operations team.
The process can also be used to design an asset plan that maximizes utilization to meet sustainability goals. This is accomplished by load balancing, asset sharing or redeployment strategies. It may also include making changes to existing or revising board software for streamlined corporate resolutions existing contracts with contractors or suppliers to improve environmental and energy performance.
