Strategic Asset Management – A Framework For Consistent, Repeatable, and Transparent Decision-Making

To achieve your organization’s objectives You must have a clear understanding of the assets within your organization and how they interact. Strategic asset management is a system that allows for transparent decisions that are consistent and repeatable by analyzing the benefits, costs, and risks of physical assets throughout their lifespan. Recognize functional interdependencies and prioritize preventive maintenance and reduce unplanned downtime and costly repairs. Maximize your ROI leveraging tech in M&A negotiation processes by determining the optimal combination of performance and cost across your entire infrastructure.

The process of strategic asset management is a vast and thorough set of documents, processes and digital tools that help align investments in physical infrastructure with the overarching strategic goals of the organization. It starts with a thorough review of the top-down investments for physical infrastructure. This involves balancing capital and operational expenditures from a total expense (TOTEX) perspective, leveraging asset condition data, and considering the current state of service and community needs.

The process can also be used to inform the planning of resource resources, staffing and plan for replacement or upgrade using the right data. It is also a great way to reduce work orders, thus decreasing downtime and improving the efficiency of your operations team.

The process can also be used to formulate plans that maximize asset utilization in order to achieve sustainability goals. This can be achieved by implementing strategies such as load balancing or sharing assets. It could also mean implementing new or reevaluating existing contracts with contractors or suppliers to improve energy and environmental performance.