Utilizing a strategic approach to long-term maintenance and planning for operations asset management will better align physical assets with an organization’s general business goals. Rather than relying on available budgets or guessing on future needs strategic asset management allows decision makers to make use of the information on condition and align service level requirements with budgetary goals to sustain facilities and infrastructure.
This approach relies on a team with a common vision. This means that the people who operate and manage your assets are an integral element in the process as they are familiar with your equipment inside out. They can provide valuable insight into the ways to improve procedures and processes, and have an important contribution to your asset management plan. This will help ensure that there is buy-in and ensure that everyone is on board when designing your strategy.
A well-thought-out strategic asset management plan starts with identifying and cataloguing all your assets, together with their locations and their conditions. This will help you identify the most important assets in your inventory and determine the priority of their maintenance. This information can be used for additional initiatives like streamlining work orders and maximising uptime.
Another important aspect is evaluating the impact of asset management decisions on your community. This means weighing the immediate costs against the long-term savings and benefits, and evaluating the effect on the environment.
