![]() This is done through optimization of organizational resources to get the right work done in the right way at the right time. People and their competences are fundamental to any successful asset management system and COVID-19 has been a catalyst for many asset-intensive organizations to rethink their approach to how effective leadership and decision-making can continue during periods of temporary or permanent employee attrition.Īt its core, asset management is about putting in place the right controls to ensure assets can provide a predictable, cost-effective and safe level of service. In contrast to events such as natural disasters or terror attacks, where infrastructure and physical assets are impacted, a pandemic affects the organization’s human assets. ![]() One asset management theme that has emerged from the pandemic has been the importance of restoring “human” assets as well as “physical” assets. They also have a clearer picture on what controls, policies and training are needed to ensure future unknown events can be met with improved resilience and responsiveness. Asset management professionals now have a greater understanding of whether organizational capabilities, plans and processes provide the strategic and tactical direction necessary to respond well to crises. ![]() For many asset-intensive organizations, the pandemic has laid bare both the strengths and deficiencies of current asset management approaches, plans and programs.
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