Using a strategic approach to long-term maintenance and operational planning Asset management can help align physical assets to the company’s overarching business objectives. Instead of relying solely on available budgets or guessing about the future requirements, strategic asset management enables decision-makers to leverage information about condition and ensure that service level requirements are in line with budgetary goals for sustainable facilities and infrastructure.
This approach relies on a group with a common vision. This means that the people who operate and maintain your assets are a critical element in the process as they know your equipment inside and out. They can provide valuable insight into how you can improve procedures and processes and make a significant impact on your asset management plan. This can help to ensure that there is buy-in and that everyone is on the same page when formulating your strategy.
A sound strategic asset management strategy starts with identifying and cataloguing all your assets, as well as their locations and their condition. This helps you determine your most valuable assets and prioritize their maintenance. This information can be used to plan additional initiatives like simplifying work orders and increasing uptime.
Analyzing the impact of asset-management decisions on your community is an vital aspect. This includes weighing immediate costs and benefits against long-term savings and benefits, and analysing their impact on the environment.