The Winter Olympics are upon us and believe it or not, good asset management plays a huge role in ensuring how smooth the 17-day event runs! The Olympics are a huge sporting event that requires proper asset management and planning especially with all the construction for the Olympic Village. This includes lodging for all athletes, and any sporting facility that the host city is missing. Large volumes of equipment that were used in the 2014 Sochi games were not just Olympic equipment or sporting equipment, but other materials and consumable goods that professionals required.
Asset-intensive organizations rely heavily on well organized teams to help facilitate large project roll-outs. These groups must capture, organize, and manage vast amounts of maintenance, engineering, and design data for the assets involved in the projects. They capture data for their assets, such as operating specifications, engineering documents, recommended spare parts lists, parts catalogs, maintenance guides, recommended maintenance procedures, and much more. Ensuring that the data meets the requirements of the organization that will maintain and operate these assets is a huge task that can be virtually unmanageable without tools to simplify and aid the process.
A key component to good asset management is good data quality.
Asset-intensive companies spend millions of dollars each year on their asset management and maintaining the equipment that is the lifeblood of their business. Anything affecting the ability of that equipment to perform at peak performance wreaks havoc on the company’s bottom line. Maintenance costs a lot of money. Not maintaining equipment properly costs even more. Lets hope these winter Olympics run more smoothly than the last one.
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