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

To reach your organization’s goals It is imperative to have a clear understanding of the assets within your company and how they interact. Strategic asset management is a process that enables transparent decisions that are consistent and repeatable based on an assessment of the benefits, costs and potential risks of physical assets over their lifespan. Determine functional interdependencies to prioritize preventive maintenance and minimize unnecessary downtime and costly repairs. Maximize your value by determining the optimal balance of performance, cost and risk across your entire infrastructure portfolio.

The strategic asset management process is a series of documents, digital tools and processes that are comprehensive and detailed. It connects investments in physical infrastructure to the organization’s goals. It starts with an in-depth review of the top-down investment options for physical infrastructure. This includes balancing capital and operational expenses from a total cost (TOTEX) perspective, leveraging information about the condition of assets, as well as considering current service levels and community requirements.

The process can also be used to inform the planning of resource resources, staffing and plan digital platforms revolutionizing M&A document management for replacement or upgrade using the correct information. It is also a great way to reduce work orders, thus reducing downtime and increasing the efficiency of your operation team.

The process can be used to create the strategy for achieving sustainability goals while maximizing asset utilization. This can be achieved through strategies like load balancing and asset sharing. It may also require the implementation of new contracts or revising current ones with suppliers or contractors in order to enhance energy and environment performance.