Assessments, Consulting, Advice, Planning, Implementation
What is Asset Management?
Asset Management Consulting is a business discipline that help you derive maximum value from your physical assets. It supports corporate strategic objectives with a balance among: performance, risk, cost and opportunity. You do this by managing the entire life cycle of physical assets – from concept through to disposal. Asset Management embraces several disciplines: engineering, demand forecasting / capital planning, operations, maintenance, finance, human resources, supply chain and information management.
See how we helped a large mining company implement Maintenance and Asset Management.
International standards, ISO 55000, 55001, and 55002, raise the bar above conventional engineering, maintenance, and capital planning practices. Risk management is enhanced and competency is developed. Your insurers, banks, and regulators gain confidence that you are managing your assets well and exposing them to lower risks. In return, they can offer lower premiums, larger investments in capital and operational lines of credit, and better terms. Your financial managers will see the need for less capital investment because existing assets, well cared for, will last longer.
See how helped a major health care center improve its Asset Management practices, enhancing patient care and service levels while making the facility itself a safer place to work.
Here’s how we helped a retail distribution system improve its service levels.
Asset Management policy provides a framework for setting objectives and satisfying them, as well as continuous improvement. It is implemented through strategic plans and specific asset-related plans that deal with all aspects of the assets’ life cycles.
Good Asset Management supports corporate strategic objectives. Your leadership ensures roles and responsibilities are defined, and accountability is clear. Asset life cycle processes are documented, managed, and can be demonstrated with good record keeping. Documentation and information are shared and consistent across your organization. The whole framework is monitored and improved as strategy, objectives, and business environment change.
You may already be doing a lot of Asset Management activities but uncoordinated, and likely in separate departments. Achieving good Asset Management for your business, not just a department, requires the stitching together of those functions, through process and sharing of information. It’s not as difficult as you might think.