STRATEGIC ASSET MANAGEMENT

Strategic Asset Management is a tool for achieving optimum product or service delivery outcomes through more effective asset solutions, and more efficient asset management. By definition, Strategic Asset Management is defined as the planned alignment of physical assets with product or service demand. It is achieved by the systematic management of all decision-making processes taken throughout the life of the physical asset. The real indicator of the success of Strategic Asset Management is enhanced product or service delivery.

Our methodology provides a framework that promotes better practices in the planning, provision, management, maintenance, and eventual disposal of assets. The framework encompasses:

• a perspective that enables the development of portfolio-wide strategies that will match the quality, quantity and type of assets held within the defined product or service need
• a perspective that ensures that asset decisions taken for each individual asset or group of assets are supported with structured methodologies and decision-making tools that take into account the life cycle of the asset from acquisition through to eventual disposal
• a perspective that ensures that asset decisions support policy and guidelines, and are coordinated across the organisation

This program also explores the three levels of management hierarchy within an organisation and how those levels can apply Strategic Asset Management for greater efficiency and effectiveness in management and a corresponding improvement in corporate governance.

• A Board specific (strategy and policy) level, which focuses on achieving financial, social and environmental objectives
• A senior management level, at which the medium and long term management decisions are made and which pursue product and service delivery strategies
• An asset operations level, which relates to day-to-day works associated with specific assets (such as construction, maintenance, or disposal) and implementation

Among the benefits from a Strategic Asset Management plan are:

• A clear understanding of the role the asset portfolio plays in support of the organisation's corporate objectives and the alignment of assets with product or service delivery strategies
• The provision of workplaces that support product or service delivery
• The optimal functionality and utilisation of assets
• Economies of scale in terms of management efficiencies and the management of finite resources
• The maximum return on investment from the asset portfolio
• The implementation of appropriate environmental, social and workplace health and safety management plans
• The rapid identification and development of disposal plans for surplus assets
• Improved access to current and accurate asset and portfolio valuation and information
• The identification, analysis, and mitigation or exploitation of opportunities and risks

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