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 organization and how they what is a board management software interact. Strategic asset management provides a structure for consistent, repeatable, and transparent action based on a thorough analysis of benefits, costs and risks throughout the life cycle of physical assets. Prioritize functional dependencies in order to plan scheduled and preventive maintenance, and decrease unplanned downtime. Maximize value by determining an optimal blend of performance, cost and risk across your entire infrastructure portfolio.

The strategic asset management system is a collection 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 a thorough top-down analysis of long-term physical infrastructure investment options. This involves balancing capital and operational expenses from a total cost (TOTEX) viewpoint, taking advantage of information on the condition of assets, and taking into account current service levels and community needs.

If you have the right data, the process can also help in planning staffing and resource management for the ongoing maintenance and operation of assets as well as upgrade or replacement plans. It can help reduce the time spent on work orders, reduce downtime and increase the efficiency of your team.

The method can also be used to formulate a plan that maximizes asset utilization to meet sustainability goals. This can be accomplished through load shifting, asset sharing or redeployment strategies. It could also involve the implementation of new or reevaluating contracts with suppliers or contractors to improve environmental and energy performance.