As organizations that rely on assets face unprecedented challenges – including the pandemic and global climate changes – it’s more important than ever before to build resilience through strategic asset management. This requires a new mindset that aligns risks and value within decision-making processes and a well-defined framework for asset life cycle management.
The approach of each organization to strategic asset management might differ however, there are some common principles. These include:
Recognize and catalog assets. This involves determining where each asset is located and the frequency at which it is used and its condition. This will help determine the best way to prioritize maintenance requests and reduce work orders. This information will also provide accurate financial estimates to each maintenance task.
Set up a clear and precise risk-based prioritization of the most critical assets, based on auditing the entire process of your deal with a virtual dataroom the policies and goals of the organization. This will reduce downtime and increase availability while decreasing operating costs.
Find the best method to deal with obsolescence. this could include resales recycling, making a commitment to dispose of funds. A CMMS can aid in this process and can analyze each decision’s environmental impact.
Make sure that the policies and procedures are in place and regularly reviewed and amended to reflect the needs of business technology advancements, as well as best practices in the industry. This will improve the effectiveness of the process of managing assets and increase the return on every investment. In addition the implementation of a strategic asset management plan will provide information-driven insight to help better planning your budget for the future.
