Strategic Asset Management – The Foundation For Organizational Resilience

Strategic asset management is an organizational approach founded on the idea that physical infrastructure assets serve as a catalyst for business goals. Asset management is a key capability in this holistic approach and is supported by BS 65000:2014’s Guidelines on Organizational resilience.

Effective maintenance can help you reach your goals, whether it’s to reduce downtime, repair costs, increase productivity, or improve equipment reliability. You must first understand the performance and needs of your assets. That means creating a thorough and accurate inventory. It is also necessary to develop strategies for acquiring new assets – with an emphasis on long-term value as well as aligning to the business’s goals – as well as strategies for enhancing customer relationship in https://thekey-partners.com post maintaining and extending the lifespan of the existing ones.

Once you have a solid foundation on which to build, you’ll be able to move from a reactive operation to a proactive one. This means staying clear of the common mistakes that many organizations are caught in, such as failing to align maintenance tasks with strategic goals or misinterpreting data or conducting regular comparisons with reports from baseline.

You can avoid these pitfalls when you integrate your strategic asset management into an automated Maintenance Management System (CMMS), which is designed to connect all the pieces of your operation puzzle. You’ll then have the visibility and transparency you require to not only spot areas to improve, but also to strengthen your argument when it is time to justify your budget request.