Asset Strategy Management (ASM) module enables the creation of an asset strategy, which is a set of actions that represent a plan to optimize equipment and location performance to achieve business benefits.

In other words, ASM allows you to create Asset Strategies to define ways in which equipment and locations can fail and the actions that you want to perform to prevent those failures and reduce their consequences. Once you have multiple Asset Strategies, you can bundle those Asset Strategies into a System Strategy.

An asset strategy is the combination of actions and risks that are associated with a piece of equipment or location. An asset strategy consists of the following:

• Multiple Risk records, which represent ways in which the piece of equipment or location can fail.
• Multiple Action records, which represent the physical actions that you want to perform to maintain the piece of equipment or location.
• Multiple Risk Assessment records, which represent the risk rank associated with a failure.