Optimize Facilities and Infrastructure Management
For government agencies, non-profit organizations and asset heavy enterprises there has never been a greater need to optimize the management of facilities and infrastructure.
Organizations are finding:
- Budgets squeezed
- Costs rising
- Increased regulatory scrutiny
- Increased demand to provide optimal services and support
Why does the business care?
- Escalating costs of maintaining older assets increases margin pressure. Having buildings and equipment managed and working properly is the cornerstone of business productivity
- In the case of Linear Asset Management it is hard to analyze the parts of the network, as that data comes from many places, and often summarized to a point of not being useful. (I.e. tell me the section of rail that costs the most to repair? Which part of the network has been out the most? Show me the parts of the network that come under the New Jersey jurisdiction?)
Why does IT care?
- The asset data is in multiple databases, applications, and formats.
- Common definitions of assets are hard to create when the sources are so different.
- The sources of data change when new assets are acquired.
- Once built, the data warehouse is frequently out-of-date with so much change.
- Business users regularly ask for new views of the data.
The Magnitude asset management approach is based on its enterprise-wide Master Data Management software solution for harmonizing, storing and managing any type of asset data.
Non-Linear & Linear Assets
- Non-Linear Assets – These include Mobile Assets (i.e. vehicles, equipment, IT networking), and Fixed Assets (i.e. office buildings, plants, equipment). Non-linear assets occupy a specific space and can be tracked by their location.
- Linear Assets (sometimes called Continuous Assets) – Linear Assets often connect with each other and are often part of a network that moves fixed Assets, i.e. rail lines for trains, water pipes for water and roadways for cars.
The physical network infrastructure is what differentiates the markets that require Linear Asset Management. These markets are unique in that the single most important asset is the network itself. If adequately modeled, that network also provides the “hub” by which all other data may be connected together for effective and meaningful asset management.
Magnitude for PAS 55
PAS 55 is the British Standards Institution’s (BSI) Publicly Available Specification for the optimized management of physical assets. Now internationally recognized, PAS 55 is proving to be an essential, objective definition of what is required to demonstrate competence, establish improvement priorities and make better, clearer connections between strategic organizational plans and the actual day-to-day work and asset realities. It has proven very successful, with widespread adoption in utilities, transport, mining, and process and manufacturing industries worldwide.
With a Magnitude-based solution for PAS 55, customers can:
- Reduce the cost of managing asset information
- Link common assets across multiple systems
- Identify gaps, duplications and unmanaged assets
- Increase the lifespan of existing systems
- Reduce the risk of replacing legacy systems
- Facilitate better, more informed business decisions
- Provide a whole life view of asset information