Making decisions on Asset Management
For managing assets appropriately, decision-making is vital in this process. First of all, not all things apply to all companies and suit their culture. Thus, even though a specific aspect of asset management might seems interesting and temting to address it, it should go under the discussion of its appropriateness for the company in question. Take for example the facilities management aspect. There is a huge list with things that companies need to address, but it doesn't automatically means that all these things are part of their day-to-day business. What is more, decision-making seems more relevant given the facet of several constraints, such as the budget and resources that each company has available for spending in each part of asset management.
You can picture this process like packing your things for a potential trip. It's for sure that you won't pack everything in the suitcase just for a 5 day trip! Either because you don't need a lot of things or because there are weight or space limitations. You have to be able to decide what to take with you and what to leave behind!
2 comments by 2 or more people
I think apart of the finance, size of the company, their structure- the culture of an organisation is the most important factor. How much do they care for their people, environment etc. just a thought…I quite like the example which you gave, similarly won’t our culture or up bringing be a deciding factor as to what I want for the trip?
21 Apr 2012, 22:00
Exactly! Each company has a different culture and different needs. Thus, all the ‘solutions’ have to fit in this culture and cover those needs.
And to extend my example further, apart from packing your suitcase, you need also to decide on the destination! Where would you like to go? To my mind, companies have to think in a similar way for their asset management. And the destination for the companies can range from just having compliance with certain standards to heading for an award.
22 Apr 2012, 11:25
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