Learn how a strategic asset management plan can help. Asset management is a strategic approach to how a company conducts business, reaches decisions, and processes, uses, and communicates information. Creating a strategic asset management plan will help your organization provide services as effectively as it can. By examining which assets your organization possesses, how important they are, and what their future costs and values may be, your organization can get the highest amount of worth from its assets.

A strategic asset management plan will allow you to understand how effective your assets are being utilized.

The value over the entire lifecycle of an asset can be determined and planned for.

You can dispose of costly assets that are not deemed necessary and generate funding from their sale.

Collect information about assets. Before you can proceed in making a strategic asset management plan you will need to collect information about the assets that you will be planning for. The focus of this inquiry is to learn how well certain assets are serving the needs of your organization. This will later allow you to learn which assets need your attention and which need to be removed.

Collect information about which assets your organization currently holds. This information should be available from company accounting records. Confirm the records with a physical audit of the tangible assets.

Think of how well your assets are serving the goals of your organization or individual department. Consider your company's short-term and long-term goals and then use this information to help you determine how the assets may be assisting or hindering your organization.

Take into account projected costs for any asset to learn what steps you need to take now.

Decide which assets will receive your focus. After you have taken an evaluation as to how important and how effective certain assets are to your organization you will need to prioritize the assets. Work to create a list of categories for use based upon their importance and frequency of use. For example, an asset that is critical but used infrequently may be replaced by short-term rental.

Some assets may be necessary to hold but may require upgrades.

Certain assets may be deemed non-essential or extraneous and may not require further holding by your organization.

For example, your organization may own a manufacturing plant or lease a building for operations or geometry dash administration. The value to cost ratio of this plant will need to be assessed to fully determine just how important it is to your organization's goals. Be sure to separate individual assets within a building based upon cost, contribution, frequency of use, and importance. You will likely need to work closely with other departments to fully understand their procedures.