For larger, more critical investments, recognize that the operating costs of an asset will typically outweigh the initial purchase price many times over. By taking inventory of assets and recording this information in a centralized database, organizations can better determine how to minimize costs and keep vital equipment running properly for as long as possible. Deriu Promoted to Resource Management Discipline Manager. ServiceChannel Kicks Off Annual Customer Event with Hundreds of Brands, and New Industry-first Offerings to Tackle the Future of Facilities Management, Spotlight on ServiceChannel: Lessons As They Garner A 50% NPS Response Rate. The longer an asset can be maintained at optimal performance, the higher the potential for savings and long-term reduction of overhead costs. Asset tagging technology typically uses NFC (such as RFID) and QR barcode scanning capabilities to help facilities professionals easily create an asset inventory or register. When conducting asset planning, organizations should ask themselves a few key questions. KCI uses an inclusive approach that is focused on guiding key stakeholders through the asset management planning and design process to ensure organizational success when it comes to implementing asset management plans. This phase includes the tagging and cataloging of the asset, the delivery of services to support core business requirements, and the planning and structuring of proactive asset management activities such as preventive maintenance. After all, it’s hard to visualize each phase of an asset’s life cycle without referring to data – and no good decisions were ever made blind. KCI is pleased to announce the promotions of Heidi Hammel, Jim Lofft and Jeffrey Tirschman to vice president. We also have a magazine that is free to receive (U.S. only). At the most basic level, careful asset planning can help an organization decide whether it actually needs to purchase an item – and, if so, whether to purchase, lease or hire it. Engagement of a qualified outside agency as a catalyst and facilitator for sustainable change is most often needed. Assets may be technological (IT assets… The COVID-19 pandemic has changed everything about the way we live and work – and, in turn, it has radically changed the ways consumers shop, exercise, and dine out. Executed correctly, a preventive maintenance schedule will both prolong the life of an asset and keep maintenance spending low, contributing to a greater degree of operational efficiency. Deliberate preventive maintenance is at the heart of asset management. KCI offers comprehensive planning services that scale to client goals, needs, and budget. https://www.wikihow.com/Develop-a-Strategic-Asset-Management-Plan Obviously, it varies from one asset to another. Improving Profitability Through Reliability, Please visit SAMI online for more information here: www.samicorp.com, Job Postings for Maintenance and Reliability Professionals, The Reliability & Maintenance Manager’s Complete Guide to Asset Strategy Management, Asset Performance Management and Reliability Software. An Implementation Plan is then developed following asset management best practices and includes recommendations which are backed by in-depth analysis of all asset inventory and cost data. Most CMMS and service automation platforms feature built-in asset management capabilities that simplify the asset tagging and registration process. Asset management is a critical function of any facilities professional’s role. Asset management is defined as the process of coordinating and planning for the acquisition, operation, maintenance, renewal, and disposal of organizational assets. A scoring system will help FMs track and monitor urgent jobs and make informed decisions around when to repair versus replace. Assets may be technological (IT assets) or physical, but most FM programs focus on the latter. Join The Association of Asset Management Professionals, Upcoming 2020 - Reliabilityweb.com Certified Reliability Leader Workshops, Upcoming 2020 - Reliabilityweb.com Certified Maintenance Manager Workshops, The International Maintenance Conference Co-located with The RELIABILITY Conference. Implementation Planning. The KCI team will conduct a needs assessment to identify and document clients’ current asset management practices and complete a Gap Analysis to determine best practices. As part of the process, an Asset Management Plan is developed based on the results of the Gap Analysis and leveraging industry best practices. Why is asset management so important? As part of the planning and design process, our team will review the benefits of asset management, conduct a needs assessment and gap analysis, work with key stakeholders to establish level of service indicators, identify critical assets, and analyze asset life cycle costs. Without a strategic asset management program in place, businesses risk frequent bouts of unexpected downtime. During the planning phase, consider all of the costs related to staff training, maintenance, operation, withdrawal from service, depreciation, disposal, renewal and rehabilitation of an asset. How much strategic planning takes place when your organization realizes the need to replace an asset or acquire a new one? Would, for instance, spending 10 to 15 percent more each year ultimately double the asset’s lifespan? Ideally, if an asset such as an HVAC unit is serviced kept clean and serviced quarterly, emergency breakdowns can be avoided altogether. The SAMP is a planning … A digital facilities management platform should be considered the status quo for organizations looking to improve ROI of their physical assets and gain a competitive edge. Analysts will complete information gathering by reviewing current data, conducting interviews and compiling a summary of the gap analysis. This field is for validation purposes and should be left unchanged. In some cases, an assert may be repairable but to do so would be a waste because the repairs would be costlier than replacing the asset altogether. How long does the operational phase last? Align metrics to gauge performance and provide insight at all levels of the organization from first line supervisors up to senior management, Assist with creation of key performance indicators (KPIs). When an asset is eventually retired and disposed of, FMs must be sure to remove the asset from the register and notate how it was disposed (such as a sale, for instance) along with any residual value. Implementing an asset management program can help communities better manage their complex infrastructure. Establishing such rankings will help justify higher maintenance costs and contribute to long-term projected ROI. In most cases, it’s very little. Subscribing is free. James Deriu has been promoted to Discipline Manager, overseeing the natural resources, water resources, asset management and geospatial solutions practices. Hammel, Lofft and Tirschman Promoted to Vice President. This process improves the delivery potential of assets … First, how are the asset’s service requirements defined by the facilities program? Given the breadth of asset management plans, nearly every part of an organization will be impacted in some way. Proper asset maintenance involves the proactive deployment of systems, people, and processes to ensure a positive enhancement of capital over the course of the asset lifecycle.

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