what does Asset management means?

The assets of a company comprise the whole set of tangible and intangible resources that have value, current or potential, to help you meet your organisational objectives. The management of assets is crucial to the success of an organisation, as it is responsible for controlling and managing the value of tangible and intangible assets, integrating it with the company's own value and its growth, enriching it as a whole. Asset management objectives, derived as part of the Strategic Asset Management Plan, provide the essential link between the objectives of the organisation and the asset management plans that describe how these objectives will be achieved.

These objectives must transform the required results that must be provided by the assets, in activities typically described in the asset management plans. Asset management objectives must fit each of the organisation's needs, which may include addressing subsets of objectives and may vary for different functions carried out to meet the requirements of interested parties. The organisation should consider information or data from sources internal and external to the organisation, including contractors, key suppliers, regulators, and other interested parties. Although the maintenance management is responsible for planning, executing and monitoring all the maintenance tasks performed on the assets, the general strategy by which the department is to be governed is designed from the management of physical assets, and It begins at the moment in which the type of assets and facilities of the organisation is defined and designed, as well as its characteristics, materials, availability of spare parts, parts and parts, as well as its budget.

Asset management services must be specific, measurable, achievable, realistic and time-bound. They can be both quantitative measurements and qualitative measurements. On the other hand, the typical asset management strategy does not include the role of the design function and capital projects in the management of assets, especially those that are planned, including the application of life cycle principles unlike the most common approach is to have the lowest installed cost. It will be very difficult to effectively manage these new assets if they are poorly designed for the service and business needs that are intended to be achieved, and also do not consider the implications of life cycle cost and performance. When companies incorporate industrial assets, the great challenge is to guarantee the highest return on investment and maximum productivity throughout their life cycle, a situation that, due to various factors, does not always happen. An efficient management of assets translates into reliability, profitability, investment optimisation and generation of new market opportunities. This is the principle that Colombian companies must face in the face of a globalisation of the economy that demands, increasingly, products and services of higher quality and competitive costs.