Strategic asset management is a mindset that is based on the idea that physical infrastructure assets support business goals. This holistic perspective, supported by the BS 65000 Guidance on Organizational Ressilience, considers asset management as one of the main capabilities that contribute to the resilience of an organization.
If you want to reduce downtime, decrease repair costs, boost productivity or increase equipment reliability you can accomplish all of these by implementing effective maintenance. To do so you must be aware of your current assets’ performance and needs. This means creating a complete and precise inventory. It is also crucial to devise strategies for the acquisition of new assets with an focus on their long-term worth as well as their alignment with business objectives.
Once you have a solid foundation, you will be ready to transition from a reactive to a proactive approach. This is about avoiding common pitfalls such as failing to align maintenance tasks with strategic goals, misinterpreting the data or not regularly comparing baseline reporting.
Avoid these pitfalls by building your strategic asset management strategy into a computerized maintenance management system (CMMS) that’s designed to connect the various elements of your operational puzzle. You’ll have the transparency and transparency you need to not just identify areas for improvement but also to prove your case when it comes time to justify your budget request.