To meet your company’s goals You must have a clear understanding of the assets in your company and how they interact. Strategic asset management is a method that enables transparent and consistent decision-making that is based on a thorough assessment of the benefits, costs, and potential risks of physical assets over their life-cycle. Find functional dependencies that can be prioritized for maintenance that is scheduled and preventive, and reduce unplanned downtime. Maximize the value of your investment by determining an optimal balance of performance, cost and risk across your entire infrastructure portfolio.
The strategic asset management is a suite of digital tools, documents, and processes that are comprehensive and precise. It ensures that investments in infrastructure are aligned with the organization’s goals. It starts by conducting a thorough, top-down assessment of long-term physical infrastructure investment possibilities. This includes balancing capital and operational expenses from a total cost (TOTEX) viewpoint, taking advantage of asset condition data, and taking into account the current level of service and community requirements.
Using the right data the process can help in planning staffing and resource management for the ongoing maintenance and operation of assets as well as upgrade and replacement plans. It can be used to simplify your work order processes, reduce downtime and increase 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 achieved by load shifting, asset sharing or redeployment strategies. It may also involve implementing new contracts or reevaluating current ones with suppliers or contractors to improve energy and environment performance.