Strategic Asset Management – A Framework For Consistent, Repeatable, and Transparent Decision-Making

To achieve your company’s goals, you need an understanding of your assets and how they work together. Strategic asset management is a system for consistent, repeatable and transparent decision-making and actions based upon a comprehensive analysis of benefits, costs, and risks throughout the life cycle of physical assets. Identify functional dependencies to prioritize https://thekey-partners.com/ibabs-software-review/ regular and preventive maintenance and reduce unplanned downtime. Maximize your value by determining the optimal combination of performance and cost across your entire infrastructure.

The strategic asset management process is a complete and extensive set of documents, processes and digital tools which align physical infrastructure investments in line with the overall goals of the company’s strategic plan. It begins with a thorough analysis of top-down investment options for physical infrastructure. This includes balancing capital costs and operational expenses from a TOTEX viewpoint and leveraging data on asset conditions and taking current service levels and local requirements into account.

Using the right data the process can inform resource planning and staffing to ensure ongoing maintenance and operation of assets, as well as upgrade or replacement plans. It can be used to simplify your work order processes which will reduce downtime and improve the efficiency of your operation team.

Finally, the method can be used to create the strategy for achieving sustainability goals while maximizing asset utilization. This can be accomplished through strategies like load balancing or sharing assets. It may also involve implementing new contracts or revising current ones with suppliers or contractors in order to improve the performance of energy and environmental.

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