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AssetAwareTM Investments

Once all proposed investments are captured and documented using the Investment Planning module, it is time to deploy the second phase where all investments are made AssetAware. An AssetAware investment not only incorporates financial and non-financial benefits as part of its justification, it is also linked to specific assets so that the impact of that investment on those assets and on the associated asset risks can be computed. This enables investments to dynamically mitigate baseline asset risk, thus creating a living asset risk register over any time horizon. The residual risk that the company will be accepting as the result of selecting a particular investment scenario is visible and dynamically generated to help make investment decisions.

Asset risk modeling enables the calculation of the optimal start date of an investment to fully mitigate unacceptable asset risks as defined by the company's strategic framework. As well, economically optimal replacement dates for assets are calculated. The automated optimization engine can be instructed to honor the risk mitigation, or force the economically optimal replacement dates, or optimize within constraints, and at the same time honor non-discretionary investments.

Information regarding asset hierarchies, asset attributes (such as asset ID, age, owner, replacement costs etc...), condition, baseline asset risk, criticality and any documentation can be associated with an asset.

Various standard reports are included such as an Asset Intelligence Report, and an Asset Risk Summary Report.

Benefits

Making investments AssetAware will drive asset risk-informed investment decisions which are aligned to the organizational strategy and objectives. This will contribute to: