Organization-Wide Physical Asset Management-A Systems Approach
Managing physical assets is a cooperative and cross-functional discipline that demands a solid governance structure, strong leadership, and well-coordinated policies and practices to meet organizational objectives and requirements in the context of their operations. Most current physical asset management systems tend to be silo-based in that they have been developed by a particular section or function for use only in that function. The effects of the isolated function-specific asset management systems are widespread and have significant implications, creating gaps and overlaps in business processes or impeding the decision-making processes.
Organizations are investing lots of money and resources in building their physical asset management systems. However, for far too long the problem is that the focus has been mostly on the tools and methodologies. These companies need to undergo a paradigm shift focused towards creating a system of organization-wide physical asset management, and moving away from the silo approach.
This book will benefit practitioners and students enrolled in asset management programs, helping to change the way they think and implement physical asset management to a more organization-wide, systems approach that will improve all functional areas of the company.