Don’t settle for an ineffective asset management plan.
Developing an average asset management plan is easy. Developing a good asset management plan is more difficult. Good asset management plans are:
The plans must, together with other organisational plans (including those that are not asset-related) form an integrated whole. This means that the asset management planning process must be integrated with the organisation’s overall business planning process. Ensuring that this happens often requires adjustments to the organisation’s business planning process. One way of ensuring that asset management plans quickly become irrelevant is by ignoring this requirement for integration.
The plans must be aligned with each other – that the actions in the asset management plan for one asset (or group of assets) considers the implications for that asset of the actions that are contained in the other plans. It is vital that overlaps and gaps are identified and addressed when developing these plans.
The plans should incorporate all actions to be taken on the asset (or group of assets). They should either cover the entire asset lifecycle (from lust to dust) or at a minimum consider the position of the assets within that lifecycle, if covering a shorter period.
In addition, to develop good asset management plans the organisational and asset management objectives should be clear, and preferably SMART (specific, measurable, achievable, realistic and timebound). Without this, it is difficult to identify and prioritise the actions for inclusion in the plan.
If you don’t know where you are going, any road will get you there.Lewis Carroll
How we can support you
Support that we can provide to you includes the following:
- Providing high level strategic guidance and advice
- Performing quality assurance on asset management plans developed by your staff
- Facilitating workshops to develop asset management plans
- Embedding staff within your organisation to develop and document asset management plans
- Developing and documenting 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 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.
Let’s develop an asset management plan that works for you.
We can support and guide you through the development of your asset management plan. To find out more about our capabilities with regards to asset management planning, 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
Effective Asset Management Strategies and PlansProduct on sale
Asset Management Foundation AwardProduct on sale
Our asset management planning articles
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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.
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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.