The value of Asset Management
How do you think that Asset Management could improve the way an organisation, a community or a service operates? Give one or two examples and look what the other participants in the forum have said.
I think it could improves the performance of the service, optimize the cost, gain profit and good reputation to organization. Some organization may neglects the asset management process and planning at the very first life cycle phases and that's their loss. It might seems they have lower cost in the very first glance but they may have to pay higher prices in the latter stages. Ex: system fails -> no spares, no monitoring, no planning - no analysis -> They have to play both tangible and intangible cost to fix the issues.
I think the most common usage of the term "asset manager" refers to investment management, the sector of the financial services industry that manages investment funds and segregated client accounts. Asset management is part of a financial company which employs experts who manage money and handle the investments of clients. From studying the client's assets to planning and looking after the investments, all things are looked after by the asset managers and recommendations are provided based on the financial health of each client.
Asset management is the process of making decisions about the use and care of infrastructure to deliver services in a way that considers current and future needs, manages risks and opportunities, and makes the best use of resources.
- Managing existing and new regulations;
- Increased global market volatility;
- The growing importance of creating service differentiation and sustainable competitive advantage;
- Pressure on fees and the shifting expectations of clients who demand a better client experience and day-to-day service
for ideal performance
I think asset management helps to perform operation in a smoother way and its helps in sustainable growth of the company
Analytics for IoT permits commercial organizations to power expanded visibility and reliability inside their deployed fleet to enhance uptime and decrease upkeep expenses. perhaps research more on infinity-supply infrastructure and services.
In railway, asset management includes relevant infrastructure activities such as capacity planning, railway operational control and timetabling.
Asset management leads a company to improve its own efficiency through activities plans and control if what is theoretically planned, will find real realization. Iso 55000 standards should be used like best practise to organize services and maintenance workflow, managing risk and assuring more respect of low and railway's standards.
Asset management ensures taking a proactive approach to O&M offers an advantage in staying ahead of the “depreciation curve.” Signs of deferred maintenance will eventually reveal themselves and cost owners more money the longer the maintenance is postponed. Operations and maintenance standards should be used as a benchmark and frequently compared to actual asset performance metrics. Having a strategic plan to manage O&M procedures prior to procurement in addition to budgeting the necessary funds to maintain asset performance pays off in the end.
Asset management improves the long-term performance of an organization by developing asset management plans that include an actionable life cycle approach to help mitigate poor asset conditions and optimize the overall use of assets to reduce costs and increase safety to those managing and utilizing those assets (referring to the rail industry).