Gold plating has an important role in royal regalia, the jewellery making trade, and even some quarters of the high tech sector, but it has never been a recognised approach for managing company assets. In these times of relentless change, more is being demanded of the asset management process. Agility, fit-for-purpose operational strategies, within a framework of good governance, make its integration with strategy even more crucial. A royal pain? Maybe. But get the finer points of asset management wrong and your company’s reputation could end up tarnished.
Asset management, and its underlying governance, recognises fit-for-purpose engineering, construction and maintenance. Along with maximising utility, monitoring, protection, risk management throughout the life cycle and collaboration between business stakeholders, are all key elements needed in looking after your assets.
Through centuries of…