To meet your company’s goals It is imperative to have a clear understanding of the assets in your company and how they what is a board management software interact. Strategic asset management is a framework that allows transparent, consistent and repeatable decision-making that is based on a thorough assessment of the benefits, costs and the risks associated with physical assets throughout their life cycle. Determine functional interdependencies to prioritize preventive maintenance, and cut down on unplanned downtime and costly repairs. Maximize your value by determining the optimal mix of performance, cost, and risk across your entire infrastructure portfolio.
The strategic asset management is a suite of digital tools, documents, and processes that are thorough and precise. It connects investments in physical infrastructure to the organization’s goals. It starts by conducting a thorough, top-down assessment of long-term physical infrastructure investment alternatives. This includes balancing capital costs and operational expenses from a TOTEX standpoint using asset condition data, and taking the current level of service and local requirements into account.
If you have the right data this process can inform staffing and resource planning for ongoing maintenance and operation of assets and upgrade or replacement plans. It can also be used to reduce the time spent on work orders which will reduce downtime and improve the efficiency of your operation team.
The process can be used to establish a plan for achieving sustainability goals through maximizing asset utilization. This can be achieved by implementing strategies such as load balancing or sharing assets. It could also require implementing new contracts, or reevaluating existing ones with suppliers or contractors in order to enhance the performance of energy and environmental.