This is the second blog in a two-part series that explain how to present Capital Asset Management and Maintenance Improvement programs to the various decision groups who speak different “languages”. Your finance people speak in terms of revenue, costs, return on investments. They see things as figures and financial statements. Somehow they need to translate your operational or functional benefits into dollars in order to truly support your ideas.
Why are business cases so challenging? Improvement programs in Maintenance or Capital Asset Management can be incredibly difficult to “sell” to managers and executives. Even where there is a high level of dependency on physical assets and poor performance, making improvements is a tough sell.
Usually there is an inherent understanding of the functional (operational) value that physical assets deliver – production output, quality of output, timely deliveries, safety, environmental compliance, public image and even security. Read more “Business Cases for Asset Management, Part 1”
PART 4 – Should You Bother To Change?
The last three blog entries describe this new trio of standards: ISO 55000, ISO 55001 and ISO 55002, all aimed at standardizing a framework for (Physical) Asset Management (AM).
Physical Asset Management is a whole life cycle approach to managing the assets we depend upon in modern life for just about everything. Our electricity, water, gas and telecommunications all come to us via some form of physical asset. Read more “ISO 55000 – Should you bother”