A Strategic Asset Management Model: Determination of Corporate Strategy for Physical Assets

Kari Komonen, Tiina Koppinen, Helena Kortelainen

Research output: Contribution to conferenceConference articleScientificpeer-review

Abstract

Companies have begun to recognize the untapped strategic potential of their physical assets as far as the competitiveness, flexibility, productivity and strategic risks of the enterprises are concerned. The corporate level Asset Management is clearly strategic in nature and focuses on the long term perspective. Corporate asset strategy is based on corporate business objectives and three main analyses: company, market and technology. These analyses help to determine the future requirements for physical assets. The tool introduced in this paper utilises both quantitative and qualitative data in order to determine requirements in relation to the assets' capability, capacity, flexibility and effectiveness. Once the requirements are compared to the existing assets and their performance potential, a future action plan may be developed as the basis for the corporate level asset strategy taking into account various asset management options available. Corporate Asset Strategy has a direct influence on the maintenance strategy of various plants.
Original languageEnglish
Number of pages12
Publication statusPublished - 2008
MoE publication typeNot Eligible
EventEuromaintenance 2008
: Conference on asset management & production reliability
- Brussels, Belgium
Duration: 8 Apr 200810 Apr 2008

Conference

ConferenceEuromaintenance 2008
CountryBelgium
CityBrussels
Period8/04/0810/04/08

Fingerprint

Assets
Corporate strategy
Strategic assets
Asset management
Management model
Productivity
Business objectives
Competitiveness
Qualitative data
Strategic risk
Maintenance strategy

Keywords

  • strategy
  • asset management
  • maintenance management
  • critical success factors

Cite this

Komonen, K., Koppinen, T., & Kortelainen, H. (2008). A Strategic Asset Management Model: Determination of Corporate Strategy for Physical Assets. Paper presented at Euromaintenance 2008
, Brussels, Belgium.
Komonen, Kari ; Koppinen, Tiina ; Kortelainen, Helena. / A Strategic Asset Management Model : Determination of Corporate Strategy for Physical Assets. Paper presented at Euromaintenance 2008
, Brussels, Belgium.12 p.
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Komonen, K, Koppinen, T & Kortelainen, H 2008, 'A Strategic Asset Management Model: Determination of Corporate Strategy for Physical Assets' Paper presented at Euromaintenance 2008
, Brussels, Belgium, 8/04/08 - 10/04/08, .

A Strategic Asset Management Model : Determination of Corporate Strategy for Physical Assets. / Komonen, Kari; Koppinen, Tiina; Kortelainen, Helena.

2008. Paper presented at Euromaintenance 2008
, Brussels, Belgium.

Research output: Contribution to conferenceConference articleScientificpeer-review

TY - CONF

T1 - A Strategic Asset Management Model

T2 - Determination of Corporate Strategy for Physical Assets

AU - Komonen, Kari

AU - Koppinen, Tiina

AU - Kortelainen, Helena

PY - 2008

Y1 - 2008

N2 - Companies have begun to recognize the untapped strategic potential of their physical assets as far as the competitiveness, flexibility, productivity and strategic risks of the enterprises are concerned. The corporate level Asset Management is clearly strategic in nature and focuses on the long term perspective. Corporate asset strategy is based on corporate business objectives and three main analyses: company, market and technology. These analyses help to determine the future requirements for physical assets. The tool introduced in this paper utilises both quantitative and qualitative data in order to determine requirements in relation to the assets' capability, capacity, flexibility and effectiveness. Once the requirements are compared to the existing assets and their performance potential, a future action plan may be developed as the basis for the corporate level asset strategy taking into account various asset management options available. Corporate Asset Strategy has a direct influence on the maintenance strategy of various plants.

AB - Companies have begun to recognize the untapped strategic potential of their physical assets as far as the competitiveness, flexibility, productivity and strategic risks of the enterprises are concerned. The corporate level Asset Management is clearly strategic in nature and focuses on the long term perspective. Corporate asset strategy is based on corporate business objectives and three main analyses: company, market and technology. These analyses help to determine the future requirements for physical assets. The tool introduced in this paper utilises both quantitative and qualitative data in order to determine requirements in relation to the assets' capability, capacity, flexibility and effectiveness. Once the requirements are compared to the existing assets and their performance potential, a future action plan may be developed as the basis for the corporate level asset strategy taking into account various asset management options available. Corporate Asset Strategy has a direct influence on the maintenance strategy of various plants.

KW - strategy

KW - asset management

KW - maintenance management

KW - critical success factors

M3 - Conference article

ER -

Komonen K, Koppinen T, Kortelainen H. A Strategic Asset Management Model: Determination of Corporate Strategy for Physical Assets. 2008. Paper presented at Euromaintenance 2008
, Brussels, Belgium.