Strategic asset management is an organizational approach founded on the idea that infrastructure assets in physical form are enablers of business goals. This holistic view, as which is endorsed by the BS 65000:2014 Guidance for Organizational Resilience considers asset management as one of the key capabilities contributing to organizational resilience.
If you want to minimize downtime, reduce repair costs, improve productivity or increase reliability of equipment, you can achieve all of this through efficient maintenance. First, you must understand the performance and needs of your assets. This requires creating a precise and complete inventory. Also, it is necessary to devise strategies to acquire new assets – focusing on long-term value as well as aligning with business goals – as well as strategies for maintaining and extending the lifespan of the existing ones.
Once you have a solid foundation that is solid, you are now ready to transition from a reactive operation to a proactive one. This is about avoiding common pitfalls for example, not coordinating the tasks of maintenance and strategic goals, misinterpreting data, or not regularly comparing baseline reporting.
You can avoid these pitfalls by building your strategic asset management plan into a computerized maintenance management system (CMMS) that is designed to connect all the pieces of your operational puzzle. You’ll then have the visibility and transparency required to not only spot potential areas for improvement but also strengthen your case when it’s time to justify your next budget request.
