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Business Processes in the Asset Management Life cycle


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there are six business processes in the life cycle management of enterprise assets. Collectively, they achieve the desired outcome from implementing the methodology of life cycle management

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Business Processes in the Asset Management Life cycle

  1. 1. Business Processes in Life Cycle Management of Enterprise Assets E-ISG Asset Intelligence ( February, 2016
  2. 2. What Is Enterprise Asset Management? Manage the Physical, Financial, and Contractual information of physical assets throughout their life cycle.
  3. 3. Desired Outcome from the Life Cycle Management of Enterprise Assets  Mission Support  Accounting and Accountability  Information Management  Planning  Relationships  Property Functionality  Resource Optimization  Property Visibility  Safety and Security  Installation, Movement and Storage -- From ASTM E53 Asset Management Standards
  4. 4. 6 Business Processes to Support the Outcomes Processes Descriptions 1. Record This process covers the activity of verifying, recording and reporting receipt of assets (equipment, supplies and material). We do not record defective assets that do not pass verification. 1. Use This process covers the activity of transferring and reserving assets, combining different assets into kits, assigning assets to people, and building components into assembled products. 1. Maintain This process covers the activity of repairing, calibration, preventative maintenance, or Return Material Authorization (RMA). 1. Audit The process covers the activity of verifying the location and exact count of the assets. 1. Report This process covers the generation of reports about the management of assets to support the 10 outcomes. 1. Dispose This process covers the disposition and retirement of assets at the end of asset life.
  5. 5. Activities in “Record” Process  Add/edit one or a group of assets, manually or from an import template  Add assets from a Part Master, with a standard set of information for each part as used by the organization  Add assets from a purchasing system, with related purchasing information about the asset  Add assets from an external database, such as Department of Defense’s IUID registry  Add assets from regularly updated external sources, such as IT auto discovery software
  6. 6. Activities in “Use” Process  Transfer assets to a new location  Transfer assets with a work order  Assign/unassign assets to people  Build assemblies – tracking “what” goes inside an assembled product  Combine assets into kits – tracking assets in a kit as linked assets  Reserve assets for use
  7. 7. Activities in “Maintain” Process  Repair and document the labor, parts and the fault reasons  Calibrate assets  Conduct preventive maintenance  Return assets to vendor for repair
  8. 8. Activities in “Audit” Process  Use “Inventory by Exception” method  Use “Statistical Sampling” method  Support random audit  Support wall to wall inventory audit
  9. 9. Activities in “Report” Process  Standard reports  Customized reports  Search and Reports  Key Performance Indicators
  10. 10. Activities in “Dispose” Process  Retire assets – with different procedures for different types of assets  Close projects  Dispose assets using Federal Government’s PCARSS process  Ship assets
  11. 11. Questions?  Share your feedback by emailing us:  Call 1-866-845-2416, ext. 2