To accomplish the goals of your organization, you need to have a clear understanding of the assets in your company and how they interact. Strategic asset management is a process that allows transparent, consistent and repeatable decision-making that is based on a thorough assessment of the benefits, costs, and potential risks of physical assets over their life-cycle. Prioritize functional dependencies in order to plan scheduled and preventive maintenance, and reduce unplanned downtime. Maximize the value of your investment by determining your optimal combination of performance and costs across your entire infrastructure.
The strategic asset management process is a series of digital tools, documents and processes that are thorough and detailed. It aligns physical infrastructure investments to the strategic goals of the organization. It begins with an in-depth analysis of top-down investments for physical infrastructure. This includes balancing capital expenses and operational expenses from a TOTEX standpoint, leveraging asset conditions data, and taking current service levels and local needs into consideration.
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 is also a great way to simplify work orders, which reduces downtime and increases the efficiency of your operation team.
The process can be used to create an action plan to achieve sustainable goals by maximising the utilization of assets. This can be achieved by load balance, asset sharing, or redeployment strategies. It may also involve implementing new contracts or revising current ones with contractors or suppliers to improve the efficiency of energy and environmental performance.
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