To accomplish the goals of your organization, you need to be aware of the assets in your organization and how they interact. Strategic asset management provides a structure that allows for consistent, repeatable and transparent action based on a thorough assessment of the benefits, costs, and risks throughout the life cycle of physical assets. Find functional interdependencies that can be prioritized for preventive maintenance and decrease unplanned downtime and costly repairs. Maximize your value by determining the optimal combination of performance and cost across your entire infrastructure.
The strategic asset management process is a vast and detailed suite of documents, processes, and digital tools that help align investments in physical infrastructure with the overall strategic goals Read More Here https://thekey-partners.com/strategies-for-efficiently-managing-your-real-estate-projects/ of the organization. It starts with a thorough and top-down review of the long-term potential for physical infrastructure investment options. This involves balancing capital expenditures and operational expenses from a TOTEX standpoint and leveraging data on asset conditions, and taking current service levels and local demands into consideration.
Using the right data this process can inform resource planning and staffing to ensure ongoing maintenance and operation of assets as well as upgrade or replacement plans. It is also a great way to reduce work orders, thus which reduces downtime and increases the efficiency of your operation team.
The method can also be used to create a plan that maximizes asset utilization to meet sustainability goals. This can be accomplished through strategies like load balancing and asset sharing. It may also require the implementation of new contracts or revising current ones with suppliers or contractors to improve the efficiency of energy and environmental performance.