Using a strategic approach to long-term maintenance as well as operational planning asset management can better align physical assets to the company’s overarching business objectives. Instead of relying solely on available budgets or guessing on the future requirements strategic asset management allows decision makers to use the information on condition and align service level requirements with budgetary goals to ensure sustainable facilities and infrastructure.
The most important element in this strategy is a solid team with a united vision. This means that the people who manage and maintain your assets are an essential component of the process because they know the equipment inside out. They can provide valuable advice on how to improve your processes and procedures and can have a significant impact on the asset management process. This will help ensure that there is buy-in and that everyone is on the same page when formulating your strategy.
A sound strategic asset management program starts by identifying and storing all your assets, together with their locations, and their condition. This will allow you to identify your most important assets and prioritise their maintenance. You can then use this information to implement a number of additional initiatives like streamlining work orders, maximizing the uptime of your equipment and improving your reporting.
Another crucial aspect is https://thekey-partners.com/what-is-a-board-management-software/ to evaluate the effects of decisions regarding asset management on your community. This includes weighing the immediate cost against the benefits and savings over the long term, and evaluating the effect on the environment.