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Steps for Designing an Asset Management Model

  1. Define and agree on needs: The first step toward a successful design of an asset management model is to recognize within the core of the organization that there is a need to define a management model to orient and guide the company’s activities.
  2. Define functions: The objective is to identify the functions of integral asset management and the strategic objectives necessary to align with business objectives. In this phase, the vision and mission of asset management are reviewed. A common error committed in this stage of the process is not involving all levels of the organization. Consequently, the vision, mission and strategic objectives of the new management model are not shared by all levels and its implementation becomes traumatic, slow and costly.
  3. Define processes, people and technology: Once the functions are defined, you must review the business areas associated with processes, people and technology in order to support the functions and strategic objectives that have been established.
  4. Define the evolution of the processes: Once the strategic objectives are defined, the macro processes and business areas that will be part of integral asset management must be defined in a process map. This map must be followed by the organization in order to achieve evolution and continual improvement of each of the business areas. This means that programs, projects, action plans and tasks must be defined in a way that allow continual evolution of the organization within the defined framework of evolution (i.e., the integral asset management model).
  5. Support tools: At this point, an asset management model exists that will serve as a guide for the management of assets. However, the philosophical model and the definition of processes of improvement are not, in themselves, sufficient enough to achieve effective transformation of the management of assets. In this sense, joint techniques and basic tools are required to guarantee a correct understanding and implementation of the process of transformation, as shown in Figure 15.

Figure 15: Critical integration factors for success (Amendola, 2011)

Tip from The Ingredients for Building Your Dream: Creative Leadership by Luis Amendola

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