To achieve your organization’s objectives it is essential to be aware of the assets in your organization and how they interact. Strategic asset management is a framework that allows for transparent and consistent decision-making that is based on a thorough assessment of the costs, benefits and the risks associated with physical assets throughout their life span. Find functional dependencies that can be prioritized for regular and preventive maintenance and reduce the amount of unplanned downtime. Maximize your value by determining your optimal combination of performance and costs across your entire infrastructure.
The strategic asset management program is a set of digital tools, documents, and processes that are comprehensive and detailed. It aligns physical infrastructure investments to the strategic goals of the organization. It begins with an in-depth review from top-down of long-term investments for physical infrastructure. This involves balancing capital and operational expenditures from a total cost (TOTEX) standpoint, using asset condition data, and taking into account current service levels and community needs.
The process can also be used to inform the planning of resource resources, staffing and plan for replacement or upgrade using the right data. It is also a great way to streamline work orders, cutting down time and increasing the efficiency of your operations team.
Finally, the process can be used to develop an action plan to achieve sustainability goals while optimizing the utilization of assets. This can be achieved by load shifting, asset sharing or redeployment strategies. It may also include the implementation of new or reevaluating contracts with contractors or suppliers to improve environmental and energy performance.