After several months of absence, I am finally back to posting my blogs. I have been busy working on a few concepts which I will shortly introduce. As mentioned in my earlier blogs, managing physical assets requires a holistic approach, not only from a whole lifecycle phase perspective but also from an organizational perspective (I call it HPAM – refer to my blog dated January 8, 2017).
Many organizations currently experience the silo syndrome, which can result in a chaotic situation when managing physical assets. This situation is illustrated in the figure below, which was taken from my book.
The left-hand side has the different functional areas of an organization and on the right-hand side you have the different phases of an asset lifecycle. All these elements are closely interrelated with each other, with different levels of interaction between them, creating a complex system. It’s important to understand that we should not look at physical asset management through the lenses of individual functional silos nor through specific asset lifecycle phases, but in an organization-wide or enterprise-wide asset management approach.
So what actually is Organization-wide Physical Asset Management and how do you implement it?
Well as mentioned above, I have been working on a couple of projects, which I hope will help organizations better understand and apply the concept of organization-wide physical asset management. Below is a brief overview of the two concepts: