At the core of the ISO 55000 asset management standard is the concept that assets exist to generate value for the organization and its stakeholders. Value-based decision making (VDM) is an approach that helps organizations align decisions to realize the most value from their assets.
In a nutshell, Copperleaf’s VDM approach first involves developing a value framework to comprehensively assess the benefits of every investment under consideration. This framework is then used to assess all investments using a common scale so that trade-off decisions can be made with confidence.
Download this white paper to learn how value-based decision making can help you:
- Consistently and fully assess the benefits of any project or investment—based on economics and risk
- Align decision making to your company’s evolving strategic objectives
- Identify the optimal set of investments, alternatives, and timing that will deliver the greatest value while respecting all constraints