KBAM: How to effectively manage assets?
In my last blog, I talked briefly about 'what' asset management is and 'why' it is important. Now, I want to address the 'how' element, which often gets overlooked as pointed out by luisa today.
Without going into too much detail, I would like to share my reflections on how assets can be managed more effectively. Firstly, I believe that there should be clear objectives. This can only be achieved if an accurate assessment of the current situation is made (similar to what the teams did today for the presentations). The desired outome from the asset system should be outlined so that it is measurable. This could, for example, be a specific level of performance required from the asset. A timescale plan should also be constructed for implementing the strategy aimed at achieving the objectives of asset management. I also believe that these objectives should be tied in with organzational goals and strategy.
In essence, one can (and ideally should) use the principles of PDCA and continuous improvement in asset management. Organizations must always work on the enablers (for example, their processes and resources) in order to have an efficient and effective asset management procedure.