How do I select those right assets to invest in? I need to understand the condition, the criticality, and the risk of my assets and how they impact the business, and I need to understand 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 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 AIP, or asset investment planning. What is the best way to invest money in your maintenance organization over the long term?