Value-based Asset Management
For each asset or group of assets in the Asset Register a quantified value for the Condition (or State) and Impact (or Importance) can be stored.
The condition and impact metrics reflect the corporate strategy - focusing for example on availability, sustainability or safety - and are computed based on data from the Asset Register. Priorities are defined for replacements and maintenance activities based on the condition and impact metrics. The corresponding budgets to execute those activities are also calculated. This process offers management a unique tool to define the condition and impact level of their entire asset portfolio and immediate view on what must be budgeted for replacement and maintenance in order to obtain the desired level of condition and impact.
The ‘bubble’ chart below shows which assets in your Asset Register are at the top of the priority list for maintenance or replacement, with a direct link to the underlying objects within the Asset Register.
Other examples of analysis algorithms:
3. Integrated Asset Management