Strategic Asset Management – A Framework For Consistent, Repeatable, and Transparent Decision-Making

The achievement of your organization’s goals requires an understanding of your assets and how they work together. Strategic asset management is a system that enables transparent, consistent and repeatable decision-making based on an assessment of the benefits, costs and the risks associated with board portal efficiency in executive meetings physical assets throughout their lifespan. Find functional interdependencies that can be prioritized for preventive maintenance and minimize the amount of downtime that is not planned and the cost of repairs. Maximize value by determining the optimal blend of cost, performance, and risk across your entire infrastructure portfolio.

The strategic asset management is a suite of digital tools, documents, and processes that are comprehensive and thorough. It aligns physical infrastructure investments to the strategic goals of the organization. It starts with a thorough review of the top-down investments for physical infrastructure. This involves balancing capital and operational expenditures from a total cost (TOTEX) perspective, leveraging information about the condition of assets, as well as taking into account the current levels of service and community requirements.

The process can also be used to inform staffing, resource planning, and upgrades or replacement plans by using the right information. It is also a great way to streamline work orders, reducing downtime and increasing the efficiency of your operations team.

The process can be used to establish the strategy for achieving sustainable goals by optimizing the utilization of assets. This can be accomplished by implementing strategies such as load balancing and asset sharing. It could also involve implementing new or reevaluating existing contracts with suppliers or contractors to improve energy and environmental performance.