To meet your company’s goals It is imperative to be aware of the assets in your company and how they interact. Strategic asset management offers a framework for consistent, repeatable, and transparent action based on a comprehensive assessment of benefits, costs, and risk throughout the life cycle of physical assets. Find functional dependencies that can be prioritized for maintenance that is scheduled and preventive, and reduce unplanned downtime. Maximize your value by determining the best combination of efficiency and cost across your entire infrastructure.

The strategic asset management process is a series of digital tools, documents and processes that are comprehensive and precise. It ensures that investments in infrastructure are aligned with the organization’s goals. It starts by conducting a thorough, top-down analysis of long-term 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 needs into account.

The process can also secure data room strategies for M&A be used to inform staffing, resource planning, and upgrades or replacement plans by using the correct information. It can be used to simplify your work order processes as well as reduce downtime and boost the efficiency of your operation team.

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