To accomplish the goals of your organization, you need to have a clear understanding of the assets within your organization and how they interact. Strategic asset management is a system that allows for Read More Here https://thekey-partners.com/strategies-for-efficiently-managing-your-real-estate-projects/ consistent, repeatable and transparent decision-making and actions that are based on a comprehensive assessment of benefits, costs and risk throughout the life cycle of physical assets. Determine functional dependencies to prioritize scheduled and preventive maintenance, and minimize unplanned downtime. Maximize the value of your investment by determining an optimal balance of cost, performance, and risk across your entire infrastructure portfolio.

The strategic asset management process is a series of documents, digital tools, and processes that are thorough and thorough. It ensures that investments in infrastructure are aligned with the strategic goals of the organization. It begins with a thorough, top-down assessment of long-term investments for physical infrastructure. This includes balancing capital and operational expenses from a total expense (TOTEX) perspective, using data on asset condition, and considering current service levels and community requirements.

If you have the right data it can help in planning staffing and resource management to ensure ongoing maintenance and operation of assets, as well as upgrade or replacement plans. It is also a great way to streamline work orders, cutting down time and increasing the efficiency of your operations team.

The method can also be used to create an action plan that maximizes asset utilization to meet sustainability goals. 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 contractors or suppliers in order to enhance the efficiency of energy and environmental performance.