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Published in:
2021 | OriginalPaper | Chapter
11. Strategic Asset Management Planning
Author : Nicholas Anthony John Hastings
Published in: Physical Asset Management
Publisher: Springer International Publishing
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Abstract
Aim: The aim of this chapter is to introduce and discuss the principles of Strategic Asset Management Planning. This is concerned with providing the organization with asset capabilities which match the needs of the organization’s business plan and are consistent with the organization’s financial plan. This involves creating or updating:
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the “Plan for the Asset Portfolio”, which shows what physical assets the organization will have over a given planning period,
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the “Plan for Asset Support” which is the plan for the supporting facilities such as maintenance and logistics over the same planning period,
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the “Asset Information Systems and Procedures” such as the asset register and documented procedures such as change management.
These plans are then incorporated into a document known as the Strategic Asset Management Plan. ISO 55001 at Clause 4.4 states that: “The organization shall develop a Strategic Asset Management Plan (SAMP)…”. This is an overview document which provides information both to asset management personnel and to others who need to be aware of the role of asset management in meeting organizational objectives. This includes senior managers and a range of external and internal stakeholders.
Outcomes: After reading this chapter you will be aware of how to tackle the issues of aligning the asset capabilities with the business plan. In particular you will be aware of the concepts and roles of the “Plan for the Asset Portfolio”, the “Plan for Asset Support” and the “Asset Information Systems and Procedures”. You will have seen how these plans are developed. You will be aware of the document called the “Strategic Asset Management Plan” and will have learnt about its purpose and content.
Topics:
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Introduction
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Strategic Asset Management Planning Elements
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The Plan for the Asset Portfolio
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The Plan for Asset Support
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Asset Information Systems and Procedures
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Planning Teams
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Development Steps
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Plan Summary and Follow-up Action
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Planning Considerations
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Top-down and Bottom-up
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Support Activities
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Engineering and Technical Services
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Strategic Asset Management Plan.