To accomplish the goals of your organization It is imperative to have a clear understanding of the assets within your organization and how they interact. Strategic asset management is a method that enables transparent and consistent decision-making ibabs software advantages overivew that is based on an analysis of the costs, benefits and dangers of physical assets over their life cycle. Recognize functional interdependencies and prioritize preventive maintenance and reduce unplanned downtime and costly repairs. Maximize value by determining the optimal balance of performance, cost, 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 detailed. It connects investments in physical infrastructure to the company’s strategic goals. It begins with an in-depth review from top-down of long-term investment options for physical infrastructure. This includes balancing capital as well as operational expenditures from a total expense (TOTEX) viewpoint, taking advantage of asset condition data, and considering the current level of service and community needs.

The process can also be used to inform the planning of resource resources, staffing and upgrade or replacement plans with the right information. It can also be used to reduce the time spent on work orders, reduce downtime and increase the efficiency of your team.

The method can also be used to create an action plan that maximizes asset utilization in order to achieve sustainability goals. This can be achieved by implementing strategies such as load balancing or sharing assets. It may also require the implementation of new contracts or reevaluating current ones with suppliers or contractors in order to enhance the performance of energy and environmental.