How to optimize your investment strategy with asset management consulting and process modeling?
What is at stake in asset management?
Asset management is the process of overseeing and maintaining an organization’s assets to maximize their value and extend their lifecycle. This article focuses on physical assets such as infrastructure and buildings. Real estate managers can optimize their investment strategy, reduce costs, and improve overall performance through asset management. Indeed, having an efficient asset management organization is key to addressing various challenges.
Anticipating assets’ aging to extend their lifecycle
Asset management enables companies to anticipate the lifecycle of the assets in their portfolio and reduce maintenance costs by eliminating unexpected expenses. Under-investing in one’s asset portfolio results in a decrease in value and an increase in maintenance expenses, including corrective expenses aimed at maintaining the level of service. This investment delay, known as “deferred maintenance,” often goes unnoticed until the level of service has significantly deteriorated. Therefore, asset management models play a crucial role in anticipating the aging of assets and accurately assessing the costs associated with their renovation processes. These models serve as essential tools for improving and optimizing asset management decision-making.
Balancing budget constraints and assets’ performance
Limited financial resources may force companies to make tough decisions about which assets to maintain or replace. These decisions can have significant financial implications and require careful consideration of factors such as the asset’s remaining useful life and its impact on the organization’s overall performance. Asset management enables decision-makers to take budget constraints into account and effectively balance financial resources with asset performance. By employing asset management strategies, organizations can optimize their resource allocation and ensure that their assets are utilized in the most efficient and cost-effective manner.
Visualizing asset portfolio and dealing with the information overload
With an abundance of data available on assets, it can be challenging to determine which information is relevant and how to leverage it effectively. Asset management consulting and process modeling can assist companies in streamlining their data collection and analysis procedures, enabling them to make better-informed decisions regarding their assets. By implementing these practices, organizations can enhance their ability to extract valuable insights from the data, leading to more effective asset management strategies and improved decision-making.
Adapting the assets for a more sustainable portfolio and world
Companies are facing increasing pressure to address climate change and transition towards more sustainable energy practices. Effective asset management can assist companies in identifying areas where they can reduce their environmental impact and enhance their sustainability efforts. This, in turn, can result in cost savings and an improved reputation. In the context of physical assets and buildings, real estate managers face significant challenges in transitioning to sustainable energy sources. Implementing an asset management strategy that includes energy performance targets proves to be an effective approach to tackle this challenge.
Key takeaways:
Effective asset management is crucial for companies seeking to optimize their investment strategy, reduce costs, and enhance performance. By addressing challenges such as aging assets, budget constraints, information overload, and sustainability concerns, companies can ensure that their assets contribute significantly to their overall success. Asset management consulting and process modeling offer valuable assistance to companies in making informed decisions, navigating these challenges, and developing strategies that maximize the value of their assets.
How to optimize your investment strategy with asset management consulting and process modeling?
As asset management is a complex and integral approach, it is crucial to establish clarity and well-defined processes within the organization. External consultants can provide valuable assistance in defining roles, responsibilities, and the most suitable organizational structure. With their extensive experience, consultants can also help in creating clear processes by defining the main steps involved, such as governance, asset assessment, planning, execution, routine maintenance, and support.
In terms of investment strategy, it is crucial to prioritize governance, asset assessment, planning, and support. This entails establishing key performance indicators (KPIs), identifying risks, conducting a comprehensive asset assessment, and developing a long-term investment strategy that mitigates unforeseen expenses. The objective is to gain a deeper understanding of the asset portfolio and formulate a clear, long-term strategy that aligns with the organization’s objectives.
Once the long-term strategy is defined, effective communication with all stakeholders and employees becomes essential to comprehend their needs and convey the vision. With this valuable information, an implementation plan can be formulated to ensure the successful execution of the long-term strategy.
Oxand is a leading provider of predictive and effective asset management solutions, empowering asset owners to optimize their strategies and investments
For over 20 years, Oxand has been providing top-tier consultancy and services to asset owners, enabling them to optimize their strategies and investment plans. With our extensive expertise and a unique software solution, Oxand assists companies in enhancing the performance of their assets. We offer a comprehensive range of services, including consultancy services, the Simeo software, Academy training, and process modeling.
Maturity assessments and change management with Oxand consultancy
Oxand consultancy services are dedicated to assisting asset owners in the development and implementation of effective asset management strategies. These services encompass maturity assessments, which provide companies with an understanding of their current position in terms of asset management best practices, and implementation support, which aids in the development and execution of a plan to enhance asset management processes. Our methodology offers a comprehensive asset management analysis, along with an action plan to drive organizational change and enhance overall success.
Digitize your assets portfolio’s data and adopt predictive maintenance with Oxand Simeo Software
Our Simeo software is a unique decision-making tool for asset management. It enables companies to streamline their data collection and analysis processes, leading to more informed decisions regarding their assets. The software offers real-time data on asset performance, empowering companies to proactively identify and address issues. Additionally, Simeo incorporates robust visualization tools, enabling companies to generate comprehensive reports and simulations that aid in future planning, including simulations of asset aging.
Enhance the skills of your team and benefit from business games tailored to your organization’s needs with Oxand Academy
Oxand Academy training services are specifically designed to assist companies in cultivating the skills and knowledge required for successful asset management. The Academy provides a comprehensive array of courses, workshops, training modules, and business games that encompass various topics, including process modeling, data analysis, asset management, performance management, and risk management. The training programs are carefully designed to be practical, playful and interactive, enabling participants to directly apply their acquired knowledge within their own organizations. Oxand’s consultant teams collaborate closely with your own teams to develop tailored business game training services that effectively address your specific challenges and objectives.
Process modeling is a key component of effective asset management
Oxand’s process modeling services assist companies in gaining a comprehensive understanding of their assets and the processes that drive their performance. Through the identification of key performance indicators (KPIs), mapping of workflows, and analysis of data, companies can develop more effective maintenance and investment strategies. This results in cost reduction and overall improvement in performance.
Key Takeways :
With over 20 years of expertise in real estate and infrastructure asset management, Oxand enables its clients to optimize their investment decision-making processes and successfully transition to sustainable assets.
Are you an asset owner seeking to enhance your organization, optimize your strategy, and digitize and visualize your data?