Strategic Asset Management – A Framework For Consistent, Repeatable, and Transparent Decision-Making
To meet your company’s goals You must be aware of the assets in your company and how they interact. Strategic asset management is a framework that allows for transparent decisions that are consistent and repeatable that is based on an analysis of the benefits, costs, and risks of physical assets throughout their lifespan. Find functional interdependencies that can be prioritized for preventive maintenance and decrease unnecessary downtime and costly repairs. Maximize your return on investment by determining the optimal combination of performance and costs across your entire infrastructure.
The strategic asset management program is a set of documents, digital tools and processes that are thorough and detailed. It is designed to align investments in physical infrastructure with the strategic goals of the organization. It begins with an in-depth, top-down assessment of long-term investment options for physical infrastructure. This involves balancing enhancing customer relationship in https://thekey-partners.com post capital and operational expenditures from a total cost (TOTEX) viewpoint, taking advantage of data on asset condition, and taking into account the current level of service and community requirements.
The process can also be used to inform the planning of resources, staffing, and upgrades or replacement plans by using the right data. It can also be used to streamline work orders, which reduces downtime and increases the efficiency of your operation team.
Finally, the process can be used to create a plan for achieving sustainability goals by maximising the utilization of assets. This can be achieved by implementing strategies such as load balancing or sharing assets. It may also include creating new or reviewing existing contracts with suppliers or contractors to improve energy and environmental performance.