As asset-intensive organisations face unprecedented problems – including the pandemic and global climate changes the need is greater than ever to develop resilience through board collaboration vdr online strategic asset management. This requires a shift in mindset that integrates risk and value in decision-making and an organized framework for asset life cycle management.
While the approach of every company to strategic asset management might differ There are a few universal principles. These include:
Identify and catalog your assets. This includes determining the exact location of each asset, its use frequency and condition. This information will allow you to determine the most effective method of prioritizing maintenance requests and simplifying work orders. This will also enable accurate financial estimates to be made for each maintenance task.
Prioritize the most important assets according to their risk based on the policies and goals of your organization. This will minimize downtime and increase the amount of time available for uptime, while reducing operating costs.
Determine the best method for managing obsolescence. This could involve resales or recycling, or simply allocating funds to dispose of. A CMMS can aid in this process, and analyze each decision’s environmental impact.
Make sure that the policies and procedures are established and are regularly reviewed and updated to reflect the needs of business as well as technological advances and best practices in the industry. This will enhance the efficiency of the overall asset management process and maximize the return from every investment. Additionally, the implementation of a strategic asset management plan will provide data-driven insights for more confidently budgeting long into the future.