Strategic Asset Management – The Foundation For Organizational Resilience

Strategic asset management is a mental model that is based on the idea that physical infrastructure assets support business goals. Asset management is a crucial ability in this holistic perspective, which is endorsed by the BS 65000 guidelines for Organizational resilience.

Whatever your goal is to reduce downtime, decrease repair costs, boost productivity, or improve the reliability of your equipment, you can achieve all of these through effective maintenance. To achieve this it is essential to know your current assets‘ performance and requirements. This requires you to create a thorough and accurate inventory. Also, it is necessary to devise strategies for purchasing new assets – with an emphasis on the long-term value and aligning with business goals – as well as for sustaining and extending the life of the existing ones.

Once you have established a solid foundation, you need to enhancing M&A due diligence with digital tools be prepared to make the transition from reactive to proactive operations. This means avoiding common pitfalls that many organisations fall into, like not aligning maintenance tasks with goals for the future as well as misinterpreting data or regularly comparing previous reporting.

Avoid these traps when you integrate your strategic asset management into an automated Maintenance Management System (CMMS) that is designed to connect all the pieces of your puzzle. Then, you’ll have the transparency and visibility required to not only spot opportunities for improvement, but also help you make your case when it’s time to justify your next budget request.