To achieve your company’s goals, you need a clear understanding of your assets and how they work together. Strategic asset management is a system for consistent, repeatable and transparent decision-making and actions based on a comprehensive assessment of costs, benefits, and risks throughout the life cycle of Real Estate Project physical assets. Find functional dependencies that can be prioritized for regular and preventive maintenance and reduce unplanned downtime. Maximize your value by determining the best combination of performance and cost across your entire infrastructure.
The strategic asset management system is a collection of documents, digital tools and processes that are thorough and precise. It ensures that investments in infrastructure are aligned with the company’s strategic goals. It starts with an in-depth analysis of top-down investment options for physical infrastructure. This includes balancing capital expenses and operational expenses from a TOTEX perspective using asset condition data and taking the current levels of service and local needs into consideration.
The process can also be used to inform staffing, resource planning, and plan for replacement or upgrade using the correct data. It can also be used to simplify work orders, reducing downtime and increasing the efficiency of your operations team.
Finally, the method can be used to create an action plan to achieve sustainability goals while maximizing asset utilization. This can be accomplished by implementing strategies such as load balancing or asset sharing. It could also involve making changes to existing or revising existing contracts with suppliers or contractors to improve environmental and energy performance.