Introduction
Asset management is about having structure and control over all your organization's assets - not just IT. These can range from real estate, vehicles, machinery and production equipment to licenses, intellectual property and subscriptions. With a common approach, you can create clarity, avoid unnecessary costs and make better decisions - whatever the asset type.
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Defining the purpose and objectives of Asset Management
The first step is to define why you want to implement Asset Management from a business perspective.
Example of objectives:
- Reducing the risk of double purchases, mismanagement and information gaps
- Enabling traceability, life cycle management and depreciation
- Strengthening control over investments, leases, guarantees and service contracts
- Creating a common language and approach for all types of assets
Suggestions for activities:
- Formulate the vision together with business representatives
- Identify current challenges in managing assets - both physical and digital
Anchor with management and key functions
A broad Asset Management project affects many parts of the organization: IT, finance, HR, real estate, production, purchasing - and requires collaboration.
Suggestions for activities:
- Develop a business case that highlights efficiency, cost savings and risk reduction
- Securing a mandate from management for a common approach to asset management
- Identify key people and ambassadors from different parts of the business
Identify asset types and information needs
What counts as an asset in your organization? What information do you need to manage?
Suggestions for activities:
- Identify asset types: vehicles, premises, equipment, inventory, software licenses, subscriptions, leased items, etc.
- Define the information model: owner, status, location, life cycle stage, cost center, serial number, warranties, etc.
- Group the assets logically: ex. "production resources", "human resources", "digital resources"
Create structure and categorization
A sustainable management model requires a common structure and a uniform way of recording and monitoring assets.
Suggestions for activities:
- Define categories and attributes for each asset type
- Describe the life cycle - from acquisition to decommissioning
- Link the assets to the right business unit, cost center and/or manager
Establish roles and responsibilities in the business
Clear accountability is needed to ensure that assets are kept up-to-date and used properly.
Suggestions for activities:
- Appoint asset managers by category or department
- Clarify roles for ordering, registration, follow-up and maintenance
- Link responsibilities to business roles - not just IT or finance
Choose system support and configure the processes
A common and flexible system support is key to achieve transparency and automation.
Suggestions for activities:
- Choose a tool (e.g. Easit GO) that supports different asset types and business areas
- Importing and structuring data from existing sources (Excel, purchasing systems, real estate systems, etc.)
- Create process flows for purchasing, maintenance, control and decommissioning
Ensure data quality and follow-up
Up-to-date and reliable information is essential for asset management to work.
Suggestions for activities:
- Set up regular checks - e.g. inventory or audit
- Build dashboards and reports for decision support
- Establish procedures for updating in case of changes (relocation, maintenance, decommissioning)
Establish working methods and train
Embed the approach in the organization so that it becomes natural to manage assets correctly and consistently.
Suggestions for activities:
- Train all those responsible for, using or registering assets
- Create clear guidelines, checklists and templates
- Linking Asset Management to related processes such as budgeting, purchasing, security and service
Follow up, improve and scale up
Asset Management is not a project - it is a long-term capability that is developed over time.
Suggestions for activities:
- Analyze usage and benefits over time
- Adjust structures, responsibilities or information needs according to the evolution of the business
- Scale up to more areas: intangible assets, skills, environmental data