Strategic asset management is a way of thinking that is based on the belief that physical infrastructure assets enable business goals. Asset management is a secure data room strategies for M&A critical ability in this holistic perspective that is endorsed by BS 65000:2014 Guidelines on Organizational resilience.

Whether your goal is to reduce downtime, decrease repair costs, increase efficiency or increase the reliability of your equipment, you can achieve all of them through efficient maintenance. To achieve this you must be aware of the current performance of your assets and needs. This requires creating a precise and thorough inventory. It also involves establishing strategies for the acquisition of new assets, focusing on long-term benefits and alignment with business goals and also for maintaining and extending the lifespan of existing assets.

Once you have established a solid foundation, you need to be prepared to make the transition from reactive to proactive operations. This involves avoiding common mistakes, like not aligning maintenance tasks with strategic goals, interpreting incorrectly the data, or not regularly comparing baseline data.

You can avoid these pitfalls by incorporating your asset management strategy into an automated maintenance management system (CMMS) that’s designed to connect the many elements of your operational puzzle. You’ll gain the visibility and transparency you require to not only spot areas to improve as well as to strengthen your argument when it comes time to justify your budget request.