Strategic Asset Management – The Foundation For Organizational Resilience

Strategic asset management is an organizational approach which is based on the notion that infrastructure assets in physical form are a key enabler of business goals. This holistic view, which is supported by the BS 65000 Guidance on Organizational Resilience, considers asset management to be one of the key capabilities that can help build resilience in an organization.

Effective maintenance can help you meet your goals, whether that’s to decrease downtime, reduce repair costs, increase productivity, or improve the reliability of equipment. You must first understand the performance and requirements of your assets. This requires creating a comprehensive and accurate inventory. It also involves establishing strategies for acquiring new assets, focusing on long-term value and alignment to business goals – and also for maintaining and extending the life of existing ones.

Once you have established a solid foundation, you need to be prepared to transition from reactive to proactive operations. This means staying clear of the common errors that a lot of organizations fall into, like failing to align maintenance tasks with goals for the future and misinterpreting data, or not regularly comparing previous reporting.

You can avoid these mistakes when you integrate your strategic asset management into a computerized Maintenance Management System (CMMS), which is designed to connect all the pieces of your operation puzzle. You’ll gain the visibility and transparency you need to not only spot areas to improve but also to bolster your argument when it is time to justify your budget request.

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