Introduction

Asset strategies define how you will design, operate, test, inspect, maintain, and replace your assets. The effectiveness of these asset strategies determines the performance over time of your assets in terms of throughput, reliability and availability, integrity, safety, sustainability, and lifecycle costs.

According to the ISO 55000 Standard, the strategy starts at the top level with the organizational strategic goals. These are translated into asset portfolio goals and then cascade down to individual system and asset goals over the lifecycle of the assets.

While having an asset strategy is important, being able to effectively execute the strategy is necessary to deliver the desired outcomes.  This white paper discusses how to develop an effective asset strategy.