ASSET MANAGEMENT
Asset management is the practice of increasing total wealth over time by acquiring, maintaining, and trading investments that have the potential to grow in value. Asset management professionals perform this service for others. They may also be called portfolio managers or financial advisors.
Asset management is increasingly important for an organisation’s future. Not only is it linked to the health and maintenance of its assets but its financial fortunes in the medium and long term.
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Difficulty overcoming the challenges and costs associated with implementing asset management strategies effectively. But about evolution in asset management in the last decade that requires a fresh approach by organisations; one that is neither ‘reactive’ nor ‘segmented’ and encompasses whole-company integration as well as new paradigms in innovation and technology.
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In this approach, value-based decision-making is championed, as are the people who manage the assets. Here we investigate how this holistic approach to asset management gives organisations a better chance for financial success.
Asset management can be defined as “a comprehensive and structured approach to assets throughout their life cycle and is an effective tool for ensuring the operation of a company.”
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Maintenance Efficiency – How efficient is the maintenance department in performing maintenance at the lowest cost?
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Are we optimally using funds for maintenance?
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Maintenance Effectiveness – How effective is the maintenance strategy in achieving business reliability and meeting business goals?
Is the right maintenance for the right equipment and at the right time meeting business goals?
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Asset management is the process of considering the commisioning, operational and end-of-life phases of physical assets. However, current models asset management term and inefficiencies terms of addressing life cycle cost comprehensively.
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Following are the major steps :
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Asset registry : Record the detail like make, model, current status, condition, model and etc.
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Asset Hirerachy : Establish a parent-child relationship between the assets corectly
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Preventive maintenance : Task to be perform on asset