The achievement of your organization’s goals requires an understanding of your assets and how they work together. Strategic asset management is a method 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 life cycle. Determine functional dependencies to prioritize preventive and scheduled maintenance, and reduce the amount of unplanned downtime. Maximize value by determining an optimal combination of cost, performance, and risk across your entire infrastructure portfolio.
The strategic asset management program is a set of digital tools, documents, and processes that are thorough and detailed. It aligns physical infrastructure investments to the organization’s goals. It begins with a thorough and top-down evaluation of long-term physical infrastructure investment options. This involves balancing capital and operational expenses from a total cost (TOTEX) perspective, using information about the condition of assets, as well as considering the current level of service and community requirements.
The process can also be used to inform staffing, resource planning, and upgrade or replacement plans using the right data. It can help simplify your work order processes as well as reduce downtime and boost the efficiency of your team.
The method can also be used to design plans that maximize asset utilization in order to achieve sustainability goals. This can be accomplished through strategies like load balancing or sharing assets. It could also mean implementing new contracts or reevaluating current ones with contractors or suppliers in order to enhance the efficiency of energy and environmental performance.