Strategic asset management is an approach that is based on the belief that physical infrastructure assets help achieve business goals. This holistic approach, endorsed by the BS 65000:2014 Guidance on Organizational Resilience, considers asset management to be one of the main capabilities contributing to organizational resilience.

If you want to reduce downtime, lower repair costs, improve efficiency or increase the reliability of your equipment, you can achieve all of these by implementing effective maintenance. To achieve this you must understand the current performance of your assets and needs. This requires you to create a thorough and accurate inventory. It is also important to come up with strategies for the acquisition of new assets, placing an focus on their long-term worth and their alignment with business goals.

Once you have established a solid base, you must be ready to move from reactive to proactive operations. This involves avoiding common pitfalls for instance, failing to align the tasks of maintenance and strategic goals, not understanding the data or not regularly comparing baseline report.

You can avoid these traps by building your strategic asset management plan into an automated maintenance management system (CMMS) that’s designed to connect the many pieces of your operational https://thekey-partners.com/cloud-hosting-vs-on-premise-hosting/ puzzle. You’ll then have the visibility and transparency you need to not just identify areas for improvement, but also to strengthen your case when it comes time to justify your budget request.