Asset Management 101: A Step by Step Asset Management Plan 3 The Need for Asset Management Due to tight budgets, recessions and other priorities, asset management professionals across North America are now facing some significant challenges due to aging infrastructure and lack of funding.
ISO 55000 defines an Asset Management Plan as “documented information that specifies the activities, resources and timescales required for an individual asset, or a grouping of assets, to achieve the organisation’s asset management objectives ”
Strategic Asset Management Plan: documented information that specifies how organisational objectives are to be converted into asset management objectives, the approach for developing asset management plans, and the role of the asset management system in supporting achievement of the asset management objectives.2
There is an approach to managing the assets of the system that can assist the utility with making better decisions on managing these aging assets. This approach is called asset management. The Asset Management Plan is a key component of WSSAs Business planning function.
The best way to tackle and resolve these challenges is to write an asset management plan by following five key steps. Not only does an asset plan allow for better communication when decision-making, but it also provides the tools so a business can plan how to manage its assets for the long term. EAM AssetWorks Inc. | All rights reserved.
12+ Asset Management Plan Templates - PDF, Word
Developing and implementing a strategic asset management sample plan will allow for a detailed understanding of what physical assets are currently held, their value, future value, and costs associated with maintaining them or disposing of them. …
This step identifies critical assets, which are those assets that are high cost and/or result in detrimental levels of service and significant consequences if they fail. By understanding where the greatest risks lie, it is possible to focus investment and attention where it matters most, and actively mitigate against tolerable risks
Strategic Asset Management: Key Take-Aways • Asset Management is the coordinated activity by an organization to realize value from assets. • Value is linked to our corporate mission, vision, and values. The things that are important to us and our customers. • CAP identifies seven different asset classes that fall within the asset
15+ Asset Management Plan Samples in PDF | DOC - Sample …
An asset management plan is a strategic plan for handling an organization’s capital equipments and other assets to deliver an agreed basic kind of service. Check out the various asset management analysis samples provided below.
MISSION: Manage assets in a safe, secure, cost-effective, and sustainable manner to support current and future DOE mission needs. VISION: A portfolio of real and personal property assets that is appropriately sized and aligned to support efficient mission execution.
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