How can you create an effective facility asset management plan?

1 Assess your current situation

The first step is to assess your current situation and identify the gaps and opportunities for improvement in your facility asset management. You can use various tools and methods, such as audits, inspections, surveys, benchmarking, and gap analysis, to evaluate the condition, performance, and risks of your assets. You should also review your existing policies, procedures, and standards, and compare them with the best practices and requirements in your industry and region.

2 Define your goals and objectives

The second step is to define your goals and objectives for your facility asset management plan. You should align them with your organizational vision, mission, and strategy, and consider the needs and expectations of your stakeholders, such as customers, employees, regulators, and investors. Your goals and objectives should be SMART: specific, measurable, achievable, relevant, and time-bound. You should also prioritize them based on their importance, urgency, and feasibility.

3 Develop your action plan

The third step is to develop your action plan for achieving your goals and objectives. Your action plan should outline the tasks, responsibilities, resources, timelines, and indicators for each goal and objective. You should also identify the potential challenges and risks that may affect your action plan, and develop contingency plans to mitigate them. You should use a project management approach to manage your action plan, and assign roles and responsibilities to your team members.

4 Implement your action plan

The fourth step is to implement your action plan and execute the activities and practices that will improve your facility asset management. You should follow the standards and guidelines that you have established, and use the tools and techniques that you have selected, such as preventive maintenance, condition monitoring, asset tracking, and performance measurement. You should also communicate and collaborate with your team members and stakeholders, and provide them with the necessary training and support.

5 Monitor and evaluate your results

The fifth step is to monitor and evaluate your results and track the progress and performance of your facility asset management plan. You should use the indicators and metrics that you have defined, and collect and analyze the data and feedback from your assets, systems, and stakeholders. You should also compare your actual results with your expected results, and identify the gaps and deviations. You should report and document your results, and share them with your team members and stakeholders.

6 Review and improve your plan

The sixth step is to review and improve your plan and make adjustments and enhancements based on your results and feedback. You should conduct regular reviews and audits of your facility asset management plan, and assess its effectiveness, efficiency, and suitability. You should also identify the best practices and lessons learned from your experience, and implement the changes and improvements that will optimize your facility asset management. You should also update your goals and objectives, and align them with your changing needs and expectations.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?