Closing of the asset life cycle
Introduction
Enterprise asset management, also generally called asset management, is the discipline that seeks to manage the entire life cycle of an organization's assets in order to maximize their value.[1].
Generally, its scope includes at least physical assets, among which it covers processes such as the design, construction, operation, maintenance and replacement of equipment and infrastructure. “Enterprise” refers to the management of assets even though they are in different departments, locations, facilities, and in some cases, even different business units. Asset management can improve asset performance, reduce costs, extend asset life, and improve asset return on investment.
Organizations, and especially industries that have a high number of assets, find that a failure in one of them, in a highly competitive environment, is very costly. In addition, they must adhere to a series of regulations on safety, health and the environment while maintaining the maximum availability of assets, spaces and infrastructure, essential for the competitiveness of organizations.
Asset management functions are becoming a fundamental element in organizations that are moving away from reactive behavior (breakdown – repair) and are adopting the philosophy of total asset life cycle planning, preventive maintenance processes and other best practices.
Some organizations still view asset management as part of the maintenance plan, until the impact of proper enterprise asset management is demonstrated. This shift in mindset demonstrates the shift currently occurring from maintenance management to enterprise asset management. The concept has been enhanced with the publication of the ISO 55001 standards.
Definition
Enterprise asset management is a business paradigm that integrates strategic planning with operations, maintenance, and capital investment decisions. At the operations level, enterprise asset management appeals to the efficiency of all assets, including inventories, regulatory compliance and human resources, combining the goals of investment, maintenance, repair and operational management.
Likewise, enterprise asset management includes challenges that consider improving productivity, maximizing the life cycle, minimizing total cost and supporting the supply chain.