Asset-intensive organizations are facing unprecedented issues, including the spread of diseases and global climate change. It is more essential than ever to build resilience through strategic asset planning. This requires a shift in approach to managing risks and benefits within decision-making processes and a standardized framework for managing the lifecycle of an asset.
While the approach of each organization to strategic asset management may differ but there are a few common guidelines. These include:
Catalog and identify assets. This involves determining the exact location of every asset, its use frequency and its state. This information will assist in determining the best method of prioritizing maintenance requests and streamline work orders. This information can also provide accurate estimates of the financial costs for each maintenance task.
Prioritize the assets that are strategic asset management in M&A processes most critical according to their risk, based on the policies and goals of your organization. This will minimize downtime and increase the amount of time available for uptime, while decreasing operating costs.
Find the most effective method of managing obsolescence. This could involve resales or recycling or simply distributing funds to dispose of. A CMMS solution can assist in this process, and can also analyze the environmental impact of each decision.
Be sure that policies and procedures are established as well as regularly reviewed and modified to reflect business needs technology advancements, as well as industry best practices. This will increase the efficiency of the process of asset management and increase the return on each investment. Additionally the implementation of a strategic asset management plan will provide data-driven insight for better planning your budget for the future.
