Develop an asset management plan

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:

Integrated

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.

Aligned

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.

Holistic

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

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.