To accomplish the goals of your organization it is essential to be aware of the assets within your organization and how they interact. Strategic asset management is a framework that allows for transparent decisions that are consistent and repeatable based on an assessment of the costs, benefits and potential risks of physical assets over their life span. Identify functional dependencies to prioritize preventive and scheduled maintenance, and decrease unplanned downtime. Maximize your value by determining the optimal mix of performance, cost and risk across your entire infrastructure portfolio.
The strategic asset management program is a set of documents, digital tools, and processes that are comprehensive and thorough. It ensures that investments in infrastructure are aligned with the organization’s strategic objectives. It starts with a thorough top-down analysis of long-term physical infrastructure investment options. This includes top board portal providers balancing capital expenditures and operational expenses from a TOTEX perspective and leveraging data on asset conditions and taking current service levels and local demands into consideration.
With the right information it can aid in resource planning and staffing for the ongoing maintenance and operation of assets, as well as upgrade or replacement plans. It can also be used to reduce the time spent on work orders as well as reduce downtime and boost the efficiency of your team.
Finally, the process can be used to create a plan for achieving sustainability goals by optimizing the utilization of assets. This can be achieved through strategies like load balancing and asset sharing. It may also include implementing new or reevaluating contracts with contractors or suppliers to improve environmental and energy performance.
