Organizations are thinking differently about work in the new year. Many work processes and procedures have already changed due to COVID-19 restrictions. Additionally, organizations have begun shifting and reprioritizing initiatives to adapt to the “new normal.” In planning for what’s to come in 2021, there’s no better time than now to review your current asset management program and prepare to build a new strategic asset management plan.

In a recent webinar, Qualifying Your 2021 Strategic Asset Management Plan During COVID-19, SEAM Group’s Stephen Cormack, Director, EAM Operations, and Michael Gray, Director of Sales, EAM Operations discuss how having a strategic asset management plan in place will help organizations continue to operate safely and efficiently during and post-pandemic. The webinar presents the value and benefits of a strategic management asset plan and shares how to qualify your current asset management program and build an effective strategic asset plan, all in a safe virtual environment.

Listen to the webinar to learn how to build your 2021 strategic asset management plan.

The webinar covered the following areas:

Common strategic initiatives (and how a strategic asset plan helps have time and resources to achieve these initiatives and see results)

  • IOT and computing on the edge
  • Innovation
  • Digital transformation
  • Cybersecurity
  • Compliance
  • Reduce costs
  • Increase revenue

The value and benefits of a strategic management asset plan

  • Helps align safety, maintenance, and reliability
  • Puts priorities in order
  • Can be done virtually to maintain safe COVID-19 protocol
  • Includes all areas that impact asset performance
  • Has low investment with high value

How to qualify your asset management program (summary below)

Before building your asset management plan, it’s important to qualify key areas in your asset management program. This webinar discussed seven different areas to review: organization, reliability, calibration, computerized maintenance management software (CMMS), workflow, total productive maintenance (TPM), and maintenance repair and operations (MRO) inventory. Assessing these areas not only looks at all the assets, systems, and processes within the facility of the building, but it also reveals their strengths and weaknesses that can affect safety, reliability, and maintenance.

Once all areas have been assessed, a score is generated to qualify and baseline the current state of an organization’s asset management program. This scorecard serves as the basis for your summary assessment report that will be used to build a strategic asset management plan.

How to build your strategic management asset plan (summary below)

Leveraging your assessment report, your organization’s key stakeholders and SEAM Group work together in a strategy workshop to define and prioritize the performance gaps and activities you want to build into the strategic plan. Once the areas of focus are identified, a plan is developed using a web-based tool that helps map out and monitor each activity and facilitates managing updates as activities are completed.

When you have line of sight to activities in the plan, you can maintain focus on the areas that need improvement. And, the best part is this all can be done safely from a remote environment.

Get your organization to a safer and better place in 2021

Having an effective strategic asset management plan in place is the compass to getting your organization to a safer and better place. If you can ensure your organizational assets are up and running during and post pandemic, you’ll see improvements in safety, reliability, and maintenance and be able to optimize performance, reduce operational costs, and increase revenue.

Listen to the webinar to learn how to build your 2021 strategic asset management plan.