STRATEGIC ASSET MANAGEMENT: BEST PRACTICES FOR MAINTENANCE, COMPLIANCE & ESG GOALS

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Strategic Asset Management: Best Practices for Maintenance, Compliance & ESG Goals

Strategic Asset Management: Best Practices for Maintenance, Compliance & ESG Goals

ASSETS with various types of Facilities of any kind requires good management for the administration and execution of Maintenance, Repairs/Corrective and Major Recovery/Overhaul (MRO) as per time. Assets Life Cycle Analysis (LCA) is the best implementation for optimum lifetime of assets. Ultimately, LCA is closely related to significant considerations as follows. HSE+5S&ESG toward SDG; HSE: Health, Safety & Environment, 5S: Seiri, Seiton, Seiso, Seiketsu, Shitsuke (Sort, Set, Shine, Standard, Sustain), ESG: Environmental, Social, Governance, SDG: Sustainable Development Goal. In some extreme case, significant R&D (Research & Development) may also need. Commercial aspect by costing estimates is pertinent for Prudent Asset Management. Impact of Costing to Asset Management analysis by 5Ms; 1. Manpower 2. Material 3. Machine 4. Method & 5. Monetary Exchange Value

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