As organizations that rely on assets face unprecedented problems – including the pandemic and global climate changes the need is greater than ever to develop resilience through strategic asset management. This requires a transformational mentality that aligns risk and value in decision-making processes, and an organized framework for asset life cycle management.

While every company’s approach to asset management strategy may differ slightly, a fundamental set of principles is universal. These include:

Find and categorize your assets. This includes finding out the exact location of each asset, their use frequency and its condition. This will help you to identify the best method to prioritize maintenance requests and streamlining work orders. This information will also allow accurate financial estimates to each maintenance task.

Prioritize the most important assets according to their risk based on the policies and objectives of your company. This will reduce operating costs and decrease downtime, while boosting uptime.

Determine the best method to manage obsolescence, and this could include resales or recycling, or even making a commitment to dispose of funds. A CMMS solution can assist in this process, and can also analyze the data room immobilier environmental impact of each choice.

Make sure that policies and procedures are in place and regularly reviewed and amended to reflect business needs, technological advancements, and best practices in the industry. This will improve the effectiveness of the process of managing assets and increase the return on every investment. Additionally, the implementation of an asset management strategy will provide data-driven insights for more confidently planning budgets for the future.