Good asset management maximizes value-for-money for stakeholders, whether in the public or private sector. It involves planning, coordination, asset selection, acquisition, utilization, maintenance management, and finally the disposal or decommissioning of assets.
This course is designed to provide a comprehensive understanding of how fixed assets and capital equipment are managed better by having a structured approach. While fixed assets may come under the purview of the Finance department for reasons of control and financial responsibilities, there are other departments equally responsible to ensure the assets are maintained and managed well.
Maintenance, Engineering, or IT departments have a major role in ensuring the optimal performance of critical equipment. Appropriate maintenance programs must be in place to provide consistent and reliable outcomes of working equipment and assets. Custodians need to understand basic knowledge of managing these assets.
Asset risks and criticality must be analyzed so that appropriate strategies could be devised to overcome unexpected outcomes and meet agreed upon service levels. Understanding the Asset Lifecycle or Asset Whole Life Management model helps organizations to better prepare for contingencies, risks exposure, financial and overall management. Further, the introduction of ISO 55000 underlies the importance of asset management to organizations.
- MANAGE localized or spatial assets through coding and tagging systems
- MAINTAIN fixed assets registry by ensuring all assets are accounted for and managed through a system of recording from acquisition to disposal
- FORMULATE appropriate maintenance strategy to help the organization in asset risk analysis