It can also avoid allocating excessive resources for data collection before the needs are fully understood. It helps the organization to understand the strengths and weaknesses of current asset management practices and to identify priorities for developing future plans. There can be benefits in developing the first AMP as an interim plan as quickly as possible using existing information. This approach requires additional time and resources, but the data and analysis are more complete and the quality of the decision making is improved. One disadvantage of this simple approach is that the plans result in a lower level of reliability, with the potential for sub-optimal decision making.Īn alternate approach requires the organization to perform a gap analysis against their existing capabilities and develop a tactical implementation plan for closing those gaps prior to beginning the preparation of the AMPs. Implementation momentum builds sooner as the organization develops the necessary awareness and desire that is required to sustain the new way of doing business. This approach enables AMPs to be constructed quickly. Knowledge gaps are filled by documented assumptions. Where data is required but does not exist, it is supplemented by organizational experience and judgment. The simplest way to begin is to gather all existing data and analyses and start constructing the plan. As shown in Figure 1, the commitment to establishing an asset management system capable of providing the necessary information to construct advanced AMPs is often characterized as a true continuous improvement journey. The point is to maintain the linkage for achieving organizational objectives within the AMPs.Īnother important “getting started” activity involves determining the approach to data collection and analysis. A Risk Based Asset Management (RBAM®) approach should be utilized that includes a defined process for classifying, analyzing, controlling and measuring the effectiveness of the operating and equipment maintenance strategies.įrom a pure process perspective, asset definition and selection is most likely an outcome of the strategic asset management plan and the establishment of asset management objectives. ![]() Assets should be selected based upon their criticality and their defined risk to the value stream. A defined selection process is the most critical of all concepts in asset management. Examples include classes of oil rigs, business units, real estate, and municipal infrastructure.īased upon how you define assets, they can then be selected for plan development. And finally a third expanded view can define asset portfolios. Examples of asset systems can include networks, production lines or facilities systems (HVAC, waste water, compressed air). Assets can also be defined and viewed in terms of systems. This is the simplest and most easily understood approach. At a foundational level assets are viewed individually. From an expanded view of asset management, there are different levels at which an asset can be managed. This decision may impact the overall approach to creating AMPs and should be considered early on.ĭefining assets that can then be filtered through a selection process may not be as straightforward as it seems. Short of a compelling business case for investing in the certification journey they are content to reap the performance gains without necessarily addressing all the management systems aspects. Many companies already maintain other ISO certifications and fully recognize the level of commitment necessary to seek certification. Many organizations are deciding to improve how they manage assets in order to achieve complinance to the standard and performance gains while postponing the certification decision. ![]() ![]() The relationship and interdependencies of asset management policy, strategy, objectives, and planning to achieve those objectives clearly demonstrates how important organizational alignment is to the creation of AMPs.Įven though ISO 55000 has established many of the criteria for creating AMPs, it is not necessary to approach this from a standard certification perspective. Asset management plans (AMPs) define the implementation activities necessary to realize an organization’s asset management objectives which translate the strategic intent of the company. The recently released ISO 55000 series of standards for asset management clearly defines the importance of asset management plans: they provide the roadmap for achieving value from physical assets by optimizing cost, risk and performance across the asset lifecycle. Asset management plans form the cornerstone of an effective asset management system.
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