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

To reach your organization’s goals It is imperative to be aware of the assets in your organization and how they interact. Strategic asset management is a framework that enables transparent, consistent and repeatable decisions that is based on an analysis of the costs, benefits and the risks associated with physical assets throughout their lifespan. Find functional dependencies that can be prioritized for maintenance that is scheduled and preventive, and decrease unplanned downtime. Maximize value by determining an optimal balance of cost, performance, and risk across your entire infrastructure portfolio.

The process of strategic asset management is a comprehensive and progressively elaborate set of documents processes and digital tools that align investments in physical infrastructure with overarching organizational strategic objectives. It starts by conducting a thorough, top-down assessment of long-term physical infrastructure investment possibilities. This includes balancing capital and operational expenditures from a total cost (TOTEX) perspective, leveraging information on the condition of assets, and considering current service levels and community requirements.

The process can also be used to inform the planning of resource resources, staffing and plan for replacement or upgrade using the right data. It is also a great way to streamline work orders, reducing downtime and increasing the efficiency of your operation team.

The process is a good way to establish strategies for achieving sustainable goals by maximizing asset utilization. This can be accomplished through load balance, asset sharing, or redeployment strategies. It could also involve implementing new or reevaluating contracts with contractors leveraging tech in M&A negotiation processes or suppliers to improve environmental and energy performance.