In order to achieve your company’s objectives, you must have an understanding of your assets and how they work together. Strategic asset management is a framework that allows for transparent and consistent decision-making based on an assessment of the benefits, costs and the risks associated with physical assets throughout their lifespan. Prioritize functional dependencies in order to plan maintenance that is scheduled and preventive, and decrease unplanned downtime. Maximize value by determining the optimal blend of performance, cost and risk across your entire infrastructure portfolio.

The process of strategic asset management is a vast and elaborate set of documents processes, and digital tools which align physical infrastructure investments with overarching organizational strategic objectives. It starts with a thorough, top-down review of the long-term potential for physical infrastructure investment alternatives. This includes balancing capital as well as operational expenses from a total expense (TOTEX) perspective, using information about the condition of assets, as well as considering the current levels of service and community requirements.

With the right information this process can aid in resource planning and staffing for the ongoing maintenance and operation of assets, in addition to upgrade or replacement plans. It is also a great way to reduce work orders, thus decreasing downtime and improving the efficiency of your operation https://agecheckstandard.com fortifying network security in the digital economy team.

The process can also be used to create a plan that maximizes asset utilization to meet sustainability goals. This can be achieved by implementing strategies such as load balancing or asset sharing. It may also include implementing new or reevaluating contracts with contractors or suppliers to improve energy and environmental performance.