Articles

Leading in Asset Management

A young professional female follows a line graph on her monitor with her finger, dragging the graph to project potential scenarios.

Key indicators

At the leading level on the asset management maturity framework, organisations are exceeding the highest expectations of ISO auditors.

Processes at this level are highly refined and undergo constant improvement. They are likely using advanced technologies and integrations to embed concepts of asset management throughout the entire business. 

Visibility

At the leading level, organisations have complete visibility over their assets and the performance of those assets. Not only this, but the visibility extends to offer reasonbly accurate future projections.

Maintenance strategy

Maintenance strategies at this top level incorporate reactive, planned, preventive and predictive. With future facing visibility, organisations at the leading level can identify future points of intervention, and can model the impacts of defferring these.

Technologies

At the leading level, organsations have no paper or on-premise solutions, and are leveraging advanced facilities management software, and likely have a dedicated asset management solution.

Data confidence

Thanks to impeccable processes, consistently followed and applied, and with the assistance of advanced technologies, organisations operating at the leading level enjoy complete data confidence. They will have access to accurate, real-time data that facilitates optimised decision making.


How organisations get there

In practice, very few organisations reach this level of asset management. To achieve this level requires a large investment from the business, indicative that asset management is one of their highest priorities.

This fifth level is for most businesses, aspirational rather than practical. As technologies continue to evolve, and we develop better ways of doing things, it may become more accessible