Strategic Asset Management – The Foundation For Organizational Resilience
Strategic asset management is an organizational approach which is based on the notion that infrastructure assets in physical form can be used to achieve business objectives. Asset management is a critical capability in this holistic perspective, which is endorsed by BS 65000:2014’s Guidelines on Organizational resilience.
Effective maintenance can help you attain your goals, whether that’s to decrease downtime, reduce repair costs, improve productivity or improve equipment reliability. It is important to understand the performance and needs of your assets. This requires creating a comprehensive and precise inventory. Also, it is necessary to devise strategies for the acquisition of new assets – focusing on long-term benefits and aligning with business goals – as well as strategies for maintaining and extending the lifespan of existing assets.
Once you have a solid base, you must be virtual data rooms for strategic document control prepared to make the shift from reactive to proactive operations. That means avoiding the common errors that a lot of organizations are caught in, such as not aligning maintenance activities with goals for the future and misinterpreting data, or not conducting regular comparisons with reports from baseline.
Avoid these traps by integrating your strategy for asset management into a computerized Maintenance Management System (CMMS), which is designed to connect all the pieces of your puzzle. Then, you’ll have the transparency and visibility necessary to not only see potential areas for improvement but also strengthen your case when it comes time to justify your next budget request.