Strategic Asset Management – The Foundation For Organizational Resilience

Strategic asset management is a way of thinking that is based on that physical infrastructure assets help achieve business goals. This holistic view, which is which is endorsed by the BS 65000:2014 Guidance on Organizational Resilience sees asset management as one https://thekey-partners.com/what-is-a-board-management-software/ of the key capabilities contributing to organizational resilience.

Whether your goal is to minimize downtime, reduce repair costs, boost productivity or increase reliability of equipment it is possible to achieve all of this through efficient maintenance. To achieve this it is essential to know the current state of your equipment’s performance and requirements. This involves creating a precise and complete inventory. Also, it is necessary to devise strategies for the acquisition of new assets – focusing on long-term value and alignment with business goals as well as for sustaining and extending the lifespan of existing assets.

Once you have an established base, you must be ready to transition from reactive to proactive operations. This involves avoiding common pitfalls such as failing to align maintenance tasks and strategic goals, misinterpreting the data or not regularly comparing baseline reports.

You can avoid these pitfalls by integrating your strategy for asset management into a computerized Maintenance Management System (CMMS), which is designed to connect all the pieces of your puzzle. You’ll then have the visibility and transparency that you need to not just identify areas for improvement but also to prove your argument when it comes time to justify your budget request.