What is an Asset?
Any helpful or valuable product, person, or number is referred to as an asset. Long-term capital assets with a typically stable nature are infrastructure assets. Examples of office assets would be things like:
Maintaining a high standard of living and economic efficiency often requires infrastructure assets. The fact that numerous power generators failed in one occurrence because they were not designed to withstand extremely high temperatures serves as a reminder of how crucial infrastructure assets are to everyone’s daily lives.
Our clients are owners / operators of infrastructure assets, and their objectives are to maximise income and improve asset performance.
What is an Asset Lifecycle?
The process through which an asset is kept, utilised, maintained, and replaced is known as the asset lifecycle. One of the main objectives of maintenance organisations is to maximise the lifecycle of critical assets, thereby increasing their reliability and enabling them to operate at the highest levels of output in terms of duration and performance, with a consequent decrease in maintenance costs and downtime.
What is Asset Lifecycle Management?
Asset lifecycle management is the process of maximising an asset’s dependability and operational performance over its lifetime.
Enterprise asset management, or EAM, is the term used to describe the management of a company’s physical assets across the course of each asset’s life cycle. Enterprise asset management (EAM) solutions provide organisations that depend on critical infrastructure assets to sustain their customers and achieve business and regulatory objectives with key asset health information and day-to-day administration of critical maintenance assignments.
End-to-end maintenance management is offered by EAM, including asset planning, optimization, execution, and prioritisation of maintenance tasks. Aside from managing
infrastructure historical data and crucial safety operations, EAM systems also manage labour and material resources.
There are six levels in an asset lifecycle management:
The design stage is the initial phase of the asset lifecycle. Based on the asset’s intended purpose, organisational requirements, and other assets already in existence, this planning step creates the asset’s requirements and specifications.
The whole process of obtaining an asset and managing spare parts to enable prompt maintenance and repairs is known as the supply chain.
This comprises purchasing and inventory management procedures like: