“Peeling the Onion” on Integrated Asset Management – Part 2 – Alignment with Your Business Objectives

“Peeling the Onion” on Integrated Asset Management – Part 2 – Alignment with Your Business Objectives

Getting started can sometimes be the hardest part. The whole world is a blank sheet of paper, and in theory, you can go wherever your imagination can take you. While this can be exciting, it can also feel overwhelming. However, when it comes to Asset Management, most organizations already have the starting point figured out, sometimes they just don’t recognize it.

This post will focus on the “Core of the Onion” as presented in the graphic of the Integrated Asset Management (IAM) Framework.

In our experience, the best way to get an entire organization behind an Asset Management Program is to start by focusing on the current Business Objectives and Processes that already exist within the organization.

One of the biggest challenges that we hear from our clients is that they struggle to get senior leadership buy-in for their AM Programs and as such, it is difficult to get a program off the ground. By using the same or similar language in your corporate strategic plan, the senior leadership within your organization will see that the AM Program’s goals are “their goals” and therefore both are aligned. I have seen many examples of Boards or Councils doing a “180” in terms of support for AM within an organization, just by using language that speaks to the strategic goals and priorities of the organization. Turning executive-level resistance or apathy into support is critical to the success of an IAM program in any organization.

Beyond just getting buy-in from senior leadership, there is one other critical way that aligning with business objectives is key. What is the point of implementing an AM Program if it does not help to achieve the goals of your organization? It is like having a crew all rowing in different directions. You are most certainly not going to get where you want to go anytime soon.

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