1. Establish Asset Management Goals and Objectives
This step involves setting goals and objectives for the asset management program to ensure that it meets the needs of the organization.
2. Develop an Inventory System
Properly tracking assets requires a clear inventory system which should include information about each asset, such as its status, location, cost, associated maintenance contracts/warranties, etc.
3. Document Internal Processes
It is important to document all internal processes related to asset management to make sure they are clearly understood by everyone involved in managing assets. This can include processes related to transferring ownership of assets, maintaining records of repairs or changes made to assets, and more.
4. Define Roles and Responsibilities
Every organization should define the roles and responsibilities of each individual involved in managing assets, to ensure that everyone knows their part in the process.
5. Implement Policies and Procedures
Asset management policies and procedures should be put into place to govern how assets are acquired, used, and disposed of within the organization.
6. Conduct Regular Audits
Regular audits of the asset management system help to identify any areas that need improvement and can catch errors or potential problems early on.
7. Update Asset Records
It is important to keep asset records up-to-date to accurately track assets and maintain proper control over them. This includes updating records when assets are transferred, sold, or disposed of.
8. Implement Security Measures
To ensure the safety and security of assets, it is important to implement appropriate security measures such as access control systems or physical locks.