Asset Management: 5 key points to consider to ensure that your assets directly impact the output of your organization

I want to take few minutes today to think about asset management and how critical it is to the function of an organization.  Asset management affects the capacity of the organization to deliver its products or services to its customers.  Less reliability equals less output in an organization over a period of time.

There are 5 key points to think about over the next few sessions that will affect our ability to deliver high quality asset management:

1. Alignment - We must be aligned with the organizational needs.  We exist as an asset management function to support production and deliver product output. Our role is to ensure the capacity of the organization to deliver its products and services. This means taking care of the assets.
2. Policies and Procedures – These are required to ensure that we meet the needs of the organization.
3. Organizational Structures – We must ensure resources are in place to execute the work.
4. Budget and Finances – We need to determine how we can best utilize our finances to ensure we are delivering our mission to support the organization.
5. Asset Management Plans – We need plans and strategies to ensure that the assets are maintained at the required level.

Don’t forget the big picture: a clear vision and strategy are both necessary for increased capacity of the organization to deliver its product.