To meet your company’s goals it is essential to be aware of the assets in your organization and how they interact. Strategic asset management is a process that enables transparent, consistent and repeatable decisions that is based on a thorough assessment of the costs, benefits and potential risks of physical assets over their life span. Prioritize functional dependencies in order to plan scheduled and preventive maintenance, and reduce unplanned downtime. Maximize your value by determining the optimal blend of performance, cost, and risk across your entire infrastructure portfolio.

The strategic asset management system is a collection of digital tools, documents and processes that are thorough and detailed. It is designed to align investments in physical infrastructure with the strategic goals of the organization. It begins with a thorough and top-down assessment of long-term physical infrastructure investment possibilities. This involves balancing capital and operational expenses from a total cost (TOTEX) viewpoint, taking advantage of information about the condition of assets, as well as considering the current levels of service and community needs.

The process can also be used to inform staffing, resource planning, and upgrades or replacement plans by using the correct data. It is also a great way to simplify work orders, cutting down time and increasing the efficiency of your operations team.

Finally, the method can be used to create strategies for achieving sustainable goals by maximising asset utilization. This enhancing deal intelligence with data analytics can be accomplished through strategies like load balancing and asset sharing. It may also require the implementation of new contracts or revising current ones with suppliers or contractors in order to improve the performance of energy and environmental.