This Site article – strategies for efficiently managing your real estate projects

Strategic asset management is an organizational approach founded on the idea that physical infrastructure assets can be used to achieve business objectives. This holistic perspective, which is endorsed by the BS 65000:2014 Guidance on Organizational Ressilience, considers asset management as one of the most important capabilities that can help build resilience in an organization.

If you want to reduce downtime, lower repair costs, increase productivity or increase reliability of equipment it is possible to achieve all of these through effective maintenance. To do so you must understand the performance of your current assets and requirements. That means creating a thorough and accurate inventory. It is also necessary to develop strategies for acquiring new assets – focusing on long-term benefits and alignment to business goals – and also for maintaining and extending the life of the existing ones.

Once you have a solid base and a solid foundation, you’ll be ready to transition from a reactive approach to a proactive one. This means staying clear of the common mistakes that many companies get caught in, like not aligning maintenance activities with strategic goals, misinterpreting data or not performing regular comparisons of reports from baseline.

You can avoid these pitfalls by integrating your strategic asset management into an automated Maintenance Management System (CMMS) that is designed to connect all the pieces of your operation puzzle. You’ll have the visibility and transparency you need to not only spot areas to improve but also to bolster your case when it is time to justify your budget request.