Strategic Asset Management

Using a strategic approach to long-term maintenance and operation planning Asset management can help align physical assets to the company’s broad business goals. Strategic asset management enables decision-makers to reconcile budgetary goals with the service level requirements to ensure sustainable infrastructure and facilities, rather than relying only on budgets.

The key element of this approach is a strong team with a shared vision. The people who manage and manage your assets are an essential part of the process as they know the equipment inside out. They can provide valuable advice on how to improve processes and procedures, and have a significant impact on the program for asset management. This can help to make sure that you have buy-in from the beginning, and ensure that everyone is on board when creating your strategy.

A sound strategic asset management plan begins with the identification of all your assets and documenting them, including their locations and their state. This will allow you to identify the most important assets and prioritise their maintenance. You can use this information to implement a number of additional initiatives like streamlining work orders, maximising uptime and improving reporting.

Examining the impact of asset management decisions on your community is another crucial aspect. This includes weighing the immediate cost against the long-term benefits and savings and assessing the impact on the environment.

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