Strategic Asset Management – The Foundation For Organizational Resilience

Strategic asset management is a way of thinking that is based on the idea that physical infrastructure assets help achieve business goals. Asset management is a crucial capability in this holistic approach that is endorsed by the BS 65000:2014 guidelines on Organizational resilience.

Effective maintenance can help you achieve your goals, whether it’s to decrease downtime, reduce repair costs, boost productivity or improve the reliability of equipment. To achieve this you must understand the current state of your equipment’s performance and needs. This involves creating a precise and complete inventory. It is also necessary to develop strategies to acquire new assets – with an emphasis on long-term benefits and alignment to business goals – as well as for maintaining and extending the life of existing assets.

Once you have established a solid base, you must be ready to make the shift from reactive to proactive operations. That means avoiding the common pitfalls that many organisations are caught in, such as failing to align maintenance tasks with strategic goals as well as misinterpreting data or regularly comparing reports from baseline.

You can avoid these issues by integrating your strategy for asset management into an automated Maintenance Management System (CMMS) that is designed to connect all the pieces of your operation puzzle. You’ll then have the transparency and visibility necessary to not only see opportunities for improvement, but also make your case stronger when it’s time to justify your next budget request.

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