This stage in the asset management lifecycle is mainly about managing risk and keeping things running smoothly. It will generally involve monitoring and maintainance of assets, as well as capturing and analysing the data to inform any future requirements.
Monitoring and maintenance
Keeping track of the status of your assets is an important part of managing them in the long-term. You'll need to:
- monitor the condition, performance and costs of assets
- ensure the assets are providing the required services at an acceptable level
- develop maintenance programmes and/or manage contracts for the maintenance of critical assets, like air conditioning or security systems
- update the physical asset register as required
- manage processes as defined in the asset management plan.
Creating and maintaining an asset register
Asset management planning
Capturing and analysing data
Between planning phases, you'll need to capture data to inform future requirements, including:
- analysing asset performance against agreed target levels of service
- monitoring work orders and asset costs to ensure they provide whole-of-life value for money
- undertaking condition assessments and asset verification where applicable, and updating the asset register.
