Strategic asset management is an approach that is based on the idea that physical infrastructure assets can help achieve business goals. This holistic view, as endorsed by the BS 65000:2014 Guidance for Organizational Resilience recognizes asset management as one of the essential capabilities that contribute to the resilience of an organization.

Effective maintenance can help you attain your goals, whether that’s to reduce downtime, repair costs, boost productivity or improve equipment reliability. You must first understand the performance and requirements of your assets. This means creating a complete and complete inventory. It is also crucial to develop strategies for the acquisition of new assets, placing an emphasis on their long-term value and their alignment with the business objectives.

Once you have a solid base, you will be ready to move from a reactive to a proactive approach. That means avoiding the common errors that a lot of organizations get caught in, like not aligning maintenance tasks with goals for the future or misinterpreting data or regularly comparing previous reporting.

You can avoid these traps by building your strategic asset management what is a board management software strategy into a computerized maintenance management system (CMMS) that’s designed to connect the many elements of your operational puzzle. You’ll have the transparency and transparency you require to not just identify areas for improvement as well as to strengthen your argument when it comes time to justify your budget request.