The Principles of Asset Management: Alignment (I)

Join Andrew McArthur, Director of Management Consulting at WRc, as he considers the principles of asset management, starting with Principle No. 1: Alignment.

Asset management translates organisational objectives into technical and financial decisions, plans and activities.

Delivery is both vertical (from corporate objectives to on-the-ground assets) and horizontal (cross-functional collaboration).

Here is a typical example of ‘Alignment’ for Auto Doors:

As can be seen in this example, vertical alignment starts with a policy statement which is then translated into strategic direction, tangible objectives and finally an asset management plan(s). This takes a concerted effort across the organisation, delivery partners and stakeholders with everyone looking to achieve a common goal.

Well-found organisational alignment improves risk management, breaks down organisational silos and effectively prioritises effort and investment to where it is needed most.

Get in touch to discover how WRc can provide enterprise and supply chain-wide asset management transformation: https://www.wrcgroup.com/services/asset-management/