Develop a strategy that is useful and specific to your organisation.
One of the key requirements of ISO 55001, the international standard for asset management, is that the organisation develops a Strategic Asset Management Plan (SAMP). The intent of this document is quite clear – it provides a link between the organisation’s overall objectives and strategic plan and the objectives and associated plans for the organisation’s assets and its asset management system. However, the contents required for this document are not explicitly covered within ISO 55001. ISO 55002 provides some guidance, but including all of the content recommended in ISO 55002 results in a large, unwieldy document that is difficult to maintain, and therefore ends up as “shelfware” gathering dust and serving no useful purpose. For more discussion on this point, read our article on a practical approach to Strategic Asset Management Plans and asset management strategy.
Developing a good, valuable, useful Strategic Asset Management Plan is harder than it might first appear. It requires clear organisational objectives. It requires engagement and involvement of senior executives, many of whom may not be familiar with asset management concepts and/or may consider that asset management is not relevant to them. It requires experience and judgement so that the Strategic Asset Management Plan includes the right amount of the right information. In fact, in most cases, it is more practical to develop two separate, but related documents – a Strategic Asset Management Plan and an asset management strategy.
How we can support you
We can help you to navigate through this complexity. Based on our insights, knowledge and experience, we will help you to develop strategic asset management documents that are valued, valuable, useful, and used.
Support that we can provide to you includes the following:
- Providing high level strategic guidance and advice
- Performing Quality Assurance on Strategic Asset Management Plans (SAMPs) and asset management strategies developed by your staff
- Facilitating workshops to develop asset management policy, Strategic Asset Management Plans and asset management strategies
- Embedding staff within your organisation to develop and document the Strategic Asset Management Plan and asset management strategy
- Developing and documenting strategic asset management planning processes and procedures
- Delivering classroom and online training in asset management planning concepts, principles and practices at all organisational levels
- Providing on-the-job coaching and guidance to implement Strategic Asset Management Plans
Related case studies
Strategic asset management for City West Water
We assisted City West Water to develop their initial Strategic Asset Managment Plan, and align with the Asset Management Accountability Framework.
Capital risk based budgeting for City West Water
We assisted City West Water to demonstrate the financial risk associated with asset condition and pending asset failure, giving them a clear 5-year plan.
Develop a strategy that works for you.
We can support and guide you through the development of your Strategic Asset Management Plan or asset management strategy. To find out more about our capabilities with regards to SAMPs and strategies, feel free to view the case studies above, or contact us for an obligation-free discussion.
Our asset management training courses
Do you need to expand the asset management capabilities of your team? Our IAM endorsed training courses are a great way to get your workforce thinking about improved asset management practices.
Asset Management Master ClassProduct on sale
Implementing an ISO 55001 Compliant Asset Management SystemProduct on sale$1,620.00 – $1,800.00
Asset Management Foundation AwardProduct on sale$877.50 – $975.00
Effective Asset Management Strategies and PlansProduct on sale
Our asset management planning articles
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Let’s explore how we might go about selling the vision for asset management, and engage with senior leadership so that they can provide ongoing support.
What does a good asset management strategy look like?
In this article, we offer a detailed example of what a good asset management strategy may look like in the context of ISO 55000 and ISO 55001.
Asset management strategy vs. Strategic Asset Management Plan (SAMP)…
Let’s explore an approach that will generate a Strategic Asset Management Plan that is useful and usable, using the ISO 55001 and ISO 55002 standards.
Meeting asset management stakeholder needs and expectations
ISO 55001 places great emphasis on making sure that an organisation’s asset management system meets the needs and expectations of its stakeholders. Let’s discuss why this is important.