What performance measure should guide asset management decisions across a service or portfolio?

Guiding asset management decisions with a focus on level of service is essential because it reflects the effectiveness and quality of service delivery to stakeholders. This measure allows organizations to assess whether assets are meeting operational expectations and fulfilling mission requirements. By prioritizing the level of service, decision-makers can ensure that assets are not only maintained for cost efficiency or longevity but are actively contributing to enhanced performance and customer satisfaction.

While cost efficiency, asset age, and staffing requirements are important factors to consider, they primarily serve as metrics to evaluate specific aspects of asset management rather than comprehensively guiding decisions. Cost efficiency might optimize expenditures but does not necessarily guarantee that service levels are maintained. Asset age can inform replacement or upgrade decisions, yet it doesn't directly link to performance outcomes. Staffing requirements can influence how effectively assets are managed but are more related to resource allocation than strategic asset performance. Ultimately, a focus on level of service aligns asset management practices with organizational goals and the needs of users, making it the most comprehensive measure for guiding decisions in this context.