To reach your organization’s goals it is essential to be aware of the assets within your company and how they interact. Strategic asset management provides a framework for consistent, repeatable, and transparent decision-making and actions that are based on a thorough analysis of costs, benefits, and risk throughout the life cycle of physical assets. Find boardeffect main benefits functional interdependencies that can be prioritized for preventive maintenance and decrease unplanned downtime and costly repairs. Maximize the value of your investment by determining an optimal blend of performance, cost and risk across your entire infrastructure portfolio.
The strategic asset management process is a comprehensive and detailed suite of documents, processes and digital tools that help align investments in physical infrastructure in line with the overall goals of the company’s strategic plan. It begins with a thorough, top-down assessment of long-term investments for physical infrastructure. This includes balancing capital expenses and operational expenses from a TOTEX viewpoint, leveraging asset conditions data and taking current service levels and local needs into consideration.
By using the correct data it can inform staffing and resource planning for ongoing maintenance and operation of assets and upgrade or replacement plans. It can be used to streamline your work orders as well as reduce downtime and boost the efficiency of your operation team.
The method can also be used to formulate plans that maximize asset utilization in order to achieve sustainability goals. This can be achieved by load balancing, asset sharing or redeployment strategies. It could also mean implementing new contracts, or reevaluating existing ones with contractors or suppliers in order to improve the efficiency of energy and environmental performance.