To achieve your organization’s objectives it is essential to have a clear understanding of the assets in your company and how they interact. Strategic asset management is a system for consistent, repeatable and transparent decision-making and actions based on a thorough assessment of benefits, costs and risk throughout the life cycle of physical assets. Prioritize functional dependencies in order to plan scheduled and preventive maintenance, and minimize unplanned downtime. Maximize your return on investment by determining the optimal combination of efficiency and cost across your entire infrastructure.
The strategic asset management process is a complete and extensive set of documents, processes, and digital tools that align investments in physical infrastructure with the overall strategic goals of the organization. It starts with a thorough, top-down analysis of long-term infrastructure investment options. This includes balancing capital costs and operational expenses from a TOTEX viewpoint, leveraging asset conditions data and taking the current levels of service and local needs into account.
The process can also be used to inform the planning of resource resources, staffing and plan for replacement or upgrade using the correct data. It can also be used to streamline your work orders as well as reduce downtime and boost the efficiency of your operation team.
The process can also be used to design a plan that maximizes asset utilization to meet sustainability goals. This can be achieved by load shifting, asset sharing or redeployment strategies. It could also mean creating new or reviewing existing contracts with suppliers or contractors to improve environmental and energy performance.
