Asset Management
Delivering Integrated and Sustainable Asset Outcomes Through Life Cycle Optimisation Utilising Digit
SMAS Engineers delivers strategic asset management services including lifecycle planning, maintenance optimisation, EAM systems, and performance measurement. Our approach ensures long-term asset reliability, cost efficiency, and sustainability.
SMAS Engineers provides end-to-end asset management services that help organizations make informed decisions about their physical assets. Our approach combines technical rigor with practical insights to ensure assets deliver optimal value throughout their lifecycle.
Whole-of-Life Based Asset Management
Maximising Asset Value Through Strategic Lifecycle Planning
We develop lifecycle strategies that maximise asset value from acquisition to disposal. This includes:
- Lifecycle cost analysis
- Condition-based planning
- End-of-life decision frameworks
Qualitative Insight: This approach considers every phase of an asset’s life, from planning and acquisition to operation, maintenance, and disposal. It ensures decisions are made with long-term value in mind.
Deliverables:
- Lifecycle strategy documents
- Asset investment plans
- Cost modeling reports.
Example: For a municipal water pipeline, we assess installation costs, maintenance schedules, expected lifespan, and replacement timing to minimise total cost and service disruptions.
Asset Management Objectives and Strategies
Defining Asset Objectives for Measurable, Strategic Performance
We define clear & SMART asset management objectives aligned with organizational goals, ensuring strategic coherence across portfolios.
- Strategic alignment workshops
- KPI development
- Portfolio prioritisation
Qualitative Insight: We help organisations define what success looks like for their assets, whether it's reliability, safety, sustainability, or cost-efficiency, and build strategies to achieve those goals.
Deliverables:
- Asset management objectives
- Strategic asset management plans
- Goal alignment matrices
- Performance targets & KPIs
Example: A hospital may prioritise equipment uptime and patient safety, so we align asset strategies to support these outcomes.
Asset Management Frameworks, System and Processes
Structured Asset Frameworks for Consistent, Effective Asset Outcomes
We implement structured frameworks that integrate people, processes, and technology.
- ISO 55000-compliant frameworks
- Process mapping and optimisation
- Governance framework
Qualitative Insight: A structured framework ensures consistency and accountability in asset-related decisions. It includes policies, procedures, and systems that guide day-to-day operations.
Deliverables:
- AM framework documentation
- Integrated process & flowcharts
- System integration plans.
Example: For a transport authority, we implement a framework that standardises maintenance across bus depots, improving service reliability.
Governance Structure and Stakeholder Management
Structured Governance and Engagement to Align Asset Priorities
We establish asset management governance structures that support accountability and stakeholder engagement.
- Roles and responsibilities matrices
- Stakeholder communication plans
- Governance audits
Qualitative Insight: Effective governance ensures that asset decisions are transparent and involve the right people. Stakeholder management fosters collaboration and trust.
Deliverables:
- Governance framework
- Stakeholder engagement plans
- Decision-making protocols
Example: In a university setting, we coordinate facilities, finance, and IT departments to align asset priorities and budgets.
Asset Risk Management
Comprehensive Risk Strategies for Asset Reliability and Safety
We identify, assess, and mitigate risks affecting asset performance and service delivery.
- Risk registers
- Failure mode and effects analysis (FMEA)
- Criticality assessments
Qualitative Insight: Identifying and mitigating risks—such as equipment failure or regulatory non-compliance—protects asset performance and organisational reputation.
Deliverables:
- Risk ratings and matrix
- Mitigation strategies and actions
- Risk based prioritisation
Example: For a manufacturing plant, we conduct risk assessments to prevent production downtime due to critical machine failures.
Asset Information Management
Structured Asset Information to Drive Accurate, Timely Decisions
We ensure accurate, accessible, and secure asset data across systems.
- Asset Information Strategy
- Data governance frameworks
- Asset Information Requirements
Qualitative Insight: Accurate and accessible data is the foundation of good asset decisions. We ensure asset records are complete, current, and structured.
Deliverables:
- Asset registers and hierarchies
- Information governance policy
- Data quality reports
Example: For a utility company, we clean and organise asset data to support predictive and preventive maintenance and regulatory reporting.
Enterprise Asset Management (EAM) Applications
Integrated EAM Solutions for Effective Management of Assets
We implement and optimise EAM systems to support digital asset management.
- System selection and configuration
- Integration with ERP and GIS
- User training and change management
Qualitative Insight: EAM systems like IBM Maximo or SAP PM centralise asset data and automate workflows, improving efficiency and decision-making.
Deliverables:
- System configuration guides
- User training materials
- Integration blueprints.
Example: We implement an EAM system for a mining company to track equipment usage, schedule maintenance, asset replacement and manage spare parts.
Asset Life-Based Planning and Budgeting
Lifecycle-Based Asset Planning to Optimise Budget and Investment
We align financial planning with asset lifecycle stages to ensure cost-effective investment.
- Long-term financial models
- Capital planning tools
- Budget forecasting
Qualitative Insight: Aligning budgets with asset lifecycle stages ensures timely investments and avoids reactive spending.
Deliverables:
- Lifecycle-based budgets
- Capital investment plans
- Financial forecasts
Example: For a road infrastructure organisation, we develop a 10-year capital plan for road resurfacing based on life cycle assessment, pavement condition and traffic volume.
Asset Replacement and Refurbishment Optimisation
Optimised Replacement Planning to Maximise Asset Value and Life
We use data-driven models to guide asset renewal decisions.
- Replacement modelling
- Refurbishment feasibility studies
- Optimisation strategies
Qualitative Insight: We use data and modelling to determine the best time to replace or refurbish assets, balancing cost and performance.
Deliverables:
- Refurbishment feasibility studies
- Decision support tools
- Replacement Plans
Example: For a fleet (rail, bus, truck, trams, ferries etc.) operator, we analyse vehicle age, maintenance costs, and fuel efficiency to optimise replacement / refurbishment schedules.
Maintenance Optimisation
Data-Driven Maintenance Optimisation for Enhancing Asset Life
We enhance maintenance strategies to improve reliability and reduce costs.
- Reliability-centered maintenance (RCM)
- Predictive maintenance analytics
- Maintenance task standardisation
Qualitative Insight: Optimised maintenance reduces downtime and extends asset life. We apply techniques like Reliability-Cantered Maintenance (RCM) and predictive analytics.
Deliverables:
- Maintenance strategies,
- Preventive Maintenance Plan & Budget
- Performance benchmarks.
Example: In a food processing plant, we shift from reactive to predictive maintenance using sensor data to anticipate equipment failures.
Asset Performance Management
Tracking Asset Performance With KPIs and Analytics Tools
We monitor and evaluate asset performance using key metrics and analytics.
- Performance dashboards
- Benchmarking studies
- Continuous improvement frameworks
Qualitative Insight: Measuring performance helps identify underperforming assets and areas for improvement. We use KPIs like availability, reliability, and cost per unit.
Deliverables:
- KPIs, Targets Timelines,
- Performance reports
- Evaluation & corrective actions
Example: For a rail network, we track train punctuality and maintenance costs to evaluate asset effectiveness.
Asset Life Cycle Cost Management
Lifecycle Cost Management to Maximise Asset Value
We control costs across the asset lifecycle through strategic planning and analysis.
- Total cost of ownership (TCO) models
- Cost tracking systems
- Value engineering
Qualitative Insight: We help organisations understand and control costs over the entire asset lifecycle, from acquisition to disposal.
Deliverables:
- Cost models
- Financial tracking tools,
- Value engineering reports.
Example: For a hospital, we analyse the total cost of ownership for MRI machines, including purchase, maintenance, and energy use.
Assurance and Compliance
Ensuring Asset Compliance With Regulations and Standards
We ensure assets meet regulatory, safety, and operational standards.
- Compliance audits
- ISO 55001 Certification support
- Regulatory mapping
Qualitative Insight: Ensuring compliance with safety, environmental, and operational standards protects organisations from legal and reputational risks.
Deliverables:
- Compliance checklists
- Audit planning & reports
- Corrective action plans
Example: For an energy provider, we conduct audits to ensure assets meet regulatory requirements for operations, safety and emissions.
Competency Management
Building Asset Management Capability for Effective Delivery
We build organisational capability through targeted competency framework aligned with organisation's objectives and strategy.
- Competency frameworks
- Skills gap analysis
- Organisation capability development plans
Qualitative Insight: Skilled personnel are essential for effective asset management. We assess capabilities and deliver targeted training.
Deliverables:
- Skills matrices,
- Training programs,
- Integration with Organisational Performance Management
Example: For a water, we develop a competency framework for various asset management roles and develop a skill matrix based plan to address gaps.
New Technology Integration
Enhancing Asset Management With Emerging Digital Technologies
We integrate emerging technologies to enhance asset performance and decision-making.
- Digital twin development
- Integrated sensor deployment
- AI-driven analytics
Qualitative Insight: Emerging technologies like IoT, AI, and digital twins enhance asset visibility and decision-making.
Deliverables:
- Technology roadmaps
- Pilot project reports
- Integration plans
Example: We deploy integrated systems of sensors, data capture and AI driven analysis on a rail track network to monitor track geometry, degradation, impacts on rolling stock operations and network reliability & safety.
Asset Resilience and Sustainability
Integrating Resilience and Sustainability Into Asset Life Cycle Planning
We design asset systems that are robust, adaptable, and environmentally responsible.
- Resilience planning
- Sustainability metrics
- Climate risk assessments
Qualitative Insight: Resilient and sustainable assets withstand disruptions and support environmental goals.
Deliverables:
- Resilience assessments
- Sustainability reports,
- Strategies & plans for asset resilience
Example: For a city, we design flood resilient infrastructure and integrate sustainability metrics into asset planning.
Vendor Management
Strategic Vendor Management for Performance and Cost Control
We optimise supplier relationships to ensure quality and performance.
- Vendor evaluation frameworks
- Contract management systems
- Performance monitoring
Qualitative Insight: Managing vendor relationships ensures quality service and cost control. We evaluate performance and negotiate contracts.
Deliverables:
- Vendor scorecards
- Procurement strategies
- SLA documentation.
Example: For an oil & gas plant, we assess supplier reliability and renegotiate contracts to optimise cost and improve delivery times.
Inventory Management
Inventory Efficiency Through Forecasting, Analysis, and Integration
We streamline inventory forecasting processes by integrating the asset replacement and maintenance requirements to reduce waste and improve availability.
- Stock optimisation models
- Spare parts analysis
- Supply chain integration
Qualitative Insight: Efficient inventory management reduces waste and ensures critical parts are available when needed.
Deliverables:
- Inventory optimisation models
- Stock level reports
- Supply chain dashboards.
Example: For a power utility, we optimise inventory using demand forecasting and reorder point analysis aligned with asset management plans.