Strategic Asset Management – A Framework For Consistent, Repeatable, and Transparent Decision-Making

To accomplish the goals of your organization it is essential to have a clear understanding of the assets within your company and how they interact. Strategic asset management provides a structure that allows for consistent, repeatable and transparent decision-making and actions that are based on a thorough assessment of benefits, costs and risks throughout the life cycle of physical assets. Determine functional dependencies to prioritize regular and preventive maintenance and minimize unplanned downtime. Maximize the value of your investment by determining an optimal mix of performance, cost, and risk across your entire infrastructure portfolio.

The strategic asset management system is a collection of digital tools, documents, and processes that are thorough and thorough. It aligns physical infrastructure investments to the company’s strategic goals. It begins with an in-depth review of the top-down investments for physical infrastructure. This involves balancing capital and operational expenses from a total expense (TOTEX) viewpoint, taking advantage of information on the condition of assets, and considering the current levels of service and community requirements.

By using the correct data it can inform resource planning and staffing for the ongoing maintenance and operation of assets, in addition to upgrade or replacement plans. It can help reduce the time spent on work orders as well as reduce downtime and boost the efficiency of your team.

The process can also be used to create a plan that maximizes asset utilization in order to achieve sustainability goals. This can be accomplished through load shifting, asset sharing or redeployment strategies. It may also require the implementation of new contracts or revising current ones with suppliers or contractors in order to enhance the environmental and energy performance.

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