Table of Contents
You need to factor in the whole life-cycle costs of your assets, not just the purchase price, to ensure the highest level of accuracy in your strategy. There are numerous chances for additional expenditures over the life of an average asset, including capital, maintenance, condition and performance models, and even disposal charges. Recall that the accuracy of your asset management business plan depends on your life-cycle costs.
To describe the general capability, quality, function, and safety of the various services your assets offer, use service levels. The operations, maintenance, and renewal actions that must be carried out in the future will be determined by the requirements of maintaining that service. In order to obtain service levels, consider:
The caliber of service you are now offering.
How the anticipated change in that level of service.
The annual price of the present service.
If money is available to support any changes to the services.
If users’ requirements and expectations are being met by your existing level of service
Do you take a proactive or reactive approach to asset management? Over time, proactive management typically proves to be more economical than reactive management. For instance, you may wind up spending more money on road repair if you wait until there is a large pothole on one of your streets rather than taking proactive measures to maintain the road over time. When you undertake the most cost-effective maintenance, repair, or replacement at the appropriate moment during the course of the asset life-cycle, you are engaging in cost-effective management.
Long-term financial planning should flow organically from your asset management. Your long-term financial plan will assist you in identifying the goals that are important, realistic, and capable of preserving your top assets over time.
Key Components of Asset Management
Strategies for Effective Asset Management Business
Challenges and Solutions
Future Trends in Asset Management Business
Experience the power, feel the comfort, and embrace the evolution for the most recent tech news and reviews, Health tips and many more follow themdakbar Blogs also follow us on Facebook, Twitter, Google News, and Instagram. For access to our most recent videos, subscribe to our YouTube channel.
I need more information about this topic
Thank you