Asset Management Objectives are derived from Organisational Objectives and articulate what your assets are required to achieve. Development of Asset Management Objectives is a critically important step in establishing an Asset Management System.
Comprehensive and relevant Asset Management Objectives aligned to the Organisational Objectives assure that asset performance requirements are known and can be achieved through cost effective technical solutions.
Organisations with multiple assets contributing to the achievement of Organisational Objectives should understand ‘what assets are needed’,’ what each asset has to do’ and ‘how they all work together’ to achieve the Organisational Objectives. When developed in this way, the Asset Management Objectives identify both the needed Capital Expenditure (CAPEX) and needed Operational Expenditure (OPEX) financial requirements.
Capability Partners supports organisations to develop quantified and measurable Asset Management Objectives appropriate to the business context through the following activities:
- Surveillance of the strategic environment to determine the Organisational Objectives
- Workshop with the Executive and key individuals to gain understanding and concurrence of current and future organisational goals, asset performance capability and contextual limitations
- Modelling of the asset portfolio to support decision analysis
- Development of several possible Asset Management Objective solutions, that deliver the Organisation objectives
- Development of relevant KPIs and KHIs
- Determination of data requirements and processes to measure achievement of Asset Management Objectives
- Development of procedures to update Asset Management Objectives and the associated asset management processes when triggered by contextual characteristics
- Identification and implementation of assurance techniques
Capability Partners has supported multiple organisations to achieve their Organisational Objectives through the development of quantitative and measurable Asset Management Objectives.