Asset Management: Breaking down the Asset Management Plan

An asset management plan should be implemented regardless of how “aged” your assets are. It is never too late to formulate an Asset Management Plan. The Asset Management Plan sets out what your desired level of service will be and providing this service level in the most cost effective way. The major benefits of an Asset Management Plan include: Prolonging the asset life by efficient and focused operation and maintenance Meeting customer demands and expectations Budgeting and efficient use of resources Meeting service expectation and regulatory requirements 1. What is your current situation? An extremely important first step to building the…