Asset Information Management


INTRODUCTION: Why Asset Management

Asset Information is central to good asset performance and every person involved in operating and maintaining facilities needs appropriate information to do their jobs. For optimal performance, this information has to be complete, accurate and comprehensive to support a multitude of questions about the asset’s creation, use and care. Access must also be convenient so that people can use it in their decision-making.

Asset management is vitally important for all capital intensive industries which rely on cost effective and trouble free operation of their plant and equipment. Getting the right dialogue taking place between cross functional groups such as new project, commissioning, operation & maintenance is necessary so that joined up thinking takes place and the life cycle costs of assets are minimized. This intensive asset management course will help to give focus on the drive to improve management practices by presenting standards, methodologies and guidance how to set up good asset management.



Asset Management is a delicate balancing act.

THE MYRIAD ASSETS OF ORGANISATIONS

Organizations have many kinds of Assets. These range from Physical, Human and Virtual Assets. Asset Information is all information that is created about all the organization’s assets throughout their lifetimes, including information about physical entities, people and processes. Asset Information Management thus becomes the practice of managing the information that the assets generate.

 

WHY ASSET INFORMATION MANAGEMENT?

In this day and age no one has the luxury of spending their time and money on things that are not beneficial to their organization. Asset Information Management is an interesting issue but unless it provides organizations with a significant opportunity for improvement in its operations then it becomes worthless. Luckily, this cannot be said about Asset Information Management because its benefits are substantial. It can help companies achieve the greatest benefit at the lowest cost while maximizing an asset’s lifespan. It also helps make management more aware of the state of the assets that they own. It says which ones need to be upgraded or replaced, how much unused assets might be worth and where investments might help the operation most. It greatly helps organization in properly utilizing the various assets that they possess, thus maximizing on the value of the asset. Asset Information management will also aid in improved service to any organization.


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