How to select the right asset to invest in? It takes an understanding of the condition, criticality, and risk related to one’s assets and how they impact the business, as well as a clear view of which assets are likely to fail and which ones are likely to run in a steady state for many years to come.
Asset performance management (APM) takes a broader, more holistic view of asset management than just the daily tasks of generating work orders and scheduling labor. Information from operational and financial systems is combined with asset management system data to gain a broader picture of long-term asset strategy. True asset performance management focuses on aligning each and every asset with overall business objectives.
A foundational piece of a strategic asset performance management plan is asset investment planning (AIP). What is the best way to invest money in your maintenance organization over the long term?
AIP helps asset-intensive organizations prioritize their capital budgets by bringing together and analyzing all the relevant data that impacts such a decision.
Attend this webinar to learn more about EAM solutions that can help with asset performance management.