Optimise your asset management with a lifecycle approach
The three stages of asset lifecycle management
Asset lifecycle management is divided into three phases, each with a typical length of time required to implement.
- Strategic: The overarching strategy for asset management. Analyses the long-term sustainability of assets and allows for informed investment decisions across a period of 5-30 years
- Tactical: The delivery and commission of capital expenditure projects to achieve long-term asset management plans. These works are usually planned over a period of 1-5 years
- Operational: Day-to-day asset care and work management practices to ensure assets are safe, reliable and available. These tasks don’t require long-term planning and are usually planned for less than a year in advance.
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