Asset Management is the structured and life cycle approach to the management of assets to meet business objectives. It combines the management, financial, economic, engineering and other practices applied to physical assets.

ISO-55000 is the latest ISO standard and the standard that specifically addresses how you should manage your assets to realise the best result for your organisation. Luminaire Solutions has a history of working with organisations to either achieve ISO-55000 accreditation or aligning their processes to meet the standard.

Luminaire will deliver the required change management process with the objective of providing a plan that will deliver your organisation’s assets:

• Align the Strategic Asset Plan with the overall Business Plan
• The required level of service and critical success factors over the life of an asset
• Managed risk profiles of the asset over their lifetime.
• The most cost-effective outcomes from a whole of life asset approach.
• Implement a structure of continuous improvement

Lifecycle Asset Management focuses on management options and strategies considering all relevant economic and physical consequences, from initial planning and design through to disposal. Although in most instances, the planning, design and disposal functions would vest entirely with the client, Luminaire Solutions would be expected to provide meaningful inputs to assist the client in making informed decisions in these areas.

A formal approach and the effective application of Asset Management principles/plan will provide your organisation, in the most cost-effective manner, to manage the total life cycle of their assets. It will also provide critical mechanisms for tailoring investment to client needs utilising optimal resource levels.