Strategic Asset Management

By implementing a strategic approach for long-term maintenance and operational planning asset management can better align physical assets with an organization’s general business goals. Strategic asset management enables decision makers to reconcile budgetary goals with service level requirements for sustainable infrastructure and facilities rather than relying only on budgets.

The key ingredient in this strategy is a cohesive team that shares a common vision. This means that the people who manage and manage your assets are an essential part of the process because they are familiar with your equipment inside out. They can offer valuable insight into how you can improve procedures and processes, which can have a significant impact on your asset management plan. This will help ensure buy-in, and that everyone is on the same page when creating your strategy.

A sound strategic asset management program starts with identifying and cataloging every asset you own, along with their locations and their condition. This will allow you to identify your most important assets and prioritize their maintenance. This information can be used to develop additional initiatives like simplifying work orders and increasing uptime.

Examining the impact of asset management decisions on your community is an vital aspect. This involves weighing the immediate costs and benefits against long-term savings and benefits, as well as analysing their impact on the environment.

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