In addition, the asset management strategy identifies the. Local government asset management better practice guide. Mar 04, 2016 matt crye, general manager, emea of powerplan discusses how asset centric business can optimize their asset management framework to more easily meet their regulatory and financial goals. Iso 55000 providing an overview of the subject of asset management and the standard terms and definitions. Matt crye, general manager, emea of powerplan discusses how asset centric business can optimize their asset management framework to more easily meet their regulatory and financial goals. A strategic asset management framework samf, ties an asset management organisation from end to end, and is targeted at improving efficiencies, effectiveness and overall performance whilst meeting the business objectives. Strategic asset management framework for government. Strategic asset management framework 3 1 introduction 1. It helps to ensure that resources for maintaining the assets in good condition and investments made are clearly focussed. A tactical plan rendered for managing firms infrastructure along with other financial assets to ensure delivery of agreed. Asset management strategy 202017 doing things differently kccs asset management strategy sets the highlevel strategic framework for managing our property portfolio effectively over the next 3 to 5 years. Software asset management strategy software has become a critical asset to your company that must be managed properly to optimize your technology investments. Total asset management plans were introduced in queensland in 2014 and, more recently, strategic asset management plans samps were adopted to help health organisations efficiently manage the. The asset management strategy sets out the strategic framework to provide excellent housing and support services, invest in our homes and neighbourhoods, grow the organisation sensibly and continuously improve our financial strength.
Transportation asset management a framework for successful performancebased planning michael bridges, p. Strategy competitive advantage capabilities resources 2. Strategic 2014 asset management plan modern mindset. What is the utilitys required sustained level of service. Pdf comprehensive asset management should be embedded in. The guide has been prepared to provide greater currency to previously issued guidance material and reflects improved practices and. Well defined triangulation process between the risk appetite, strategic, capital and funding planning process that aligns business objectives and range of implications for the risk profile and financial resources of the firm. Framework for asset management, second edition is now available to the public for. The 2020 action plan is designed to be crosscutting and to support agencies in fulfilling a wide array of legislative and administrative requirements, while also prioritizing foundational activities for agencies in developing a mature data asset management environment. Auckland transport asset management framework 11 strategic and tactical amps auckland transport produces an overarching transport strategic asset management plan amp for public disclosure that demonstrates its asset management processes, practices and resulting strategies and tactical plans. Success of an asset intensive organisation is based on adoption of high quality asset management practices and systems.
These factors are important across the queensland governments substantial portfolio of buildings. A tactical plan rendered for managing firms infrastructure along with other financial assets to ensure delivery of agreed standard of services is known as an. The asset management policy highlights key principles and requirements that the organization must follow for implementing and sustaining and asset management strategy and defining the asset management objectives. Information management strategy overview priority themes role 5. An integrative strategic framework adaptive processes strategic agenda competitive positioning. Federal data strategy leveraging data as a strategic asset. A strategic framework for asset management youtube. Asset management strategy asset management manual world.
Full paper a framework for strategic infrastructure asset. An asset management framework there are five core questions in an asset management framework. The strategic asset management plan is a key corporate strategic tool which sets out the london borough of barnets property objectives, focussing on how the. Asset management plan definition strategy framework. The management of facilities demands more than merely maintaining and servicing buildings. Enterprise wide risk management framework march 2017. A framework for strategic infrastructure asset management. Definition asset management zmanagement paradigm and body of management practices zapplied to the entire portfolio of infrastructure assets at all levels of the organization zseeking to minimize total costs of acquiring, operating, maintaining, and renewing assets zwithin an environment of. Pdf framework model for asset maintenance management. Transportation asset management a framework for successful. Each asset management plan is a readable and userfriendly living document that is continuously improved to incorporate new information or changing requirements. Iso 55000 asset management overview, principles and terminology 2.
Developing an asset management strategy, policy and plans. The decisionmaking and planning stages involve the search for alternative courses of action, the gathering of data about the alternatives, the selection of the most appropriate alternative and the. This asset management strategy 20152025 outlines how we are going to do that over the next decade. The framework is periodically updated to reflect feedback from users and to align it with the iams latest thinking on the scope and components of asset management. Describe the structure of and artefacts contained in the asset management system ams. Asset strategy and performance management software sap. This new framework replaces our corporate property strategy 20072012. It will guide our future strategic property decisions to ensure we manage our property portfolio sustainably and efficiently so. Management framework the s1 to s5 standards see page 7. Strategic asset management planning is a key corporate activity that must be driven by senior management to reflect an agencys asset policy framework and associated budgetary objectives. One of the phase important in asset management planning is to build asset management strategy.
It provides clear direction, overall intentions and rationale. Strategic asset management refers to the tcm process as applied at an enterprise wide level to manage costs of the enterprises entire strategic asset portfolio. Strategic enrolment management sem is an institutionwide process that coordinates marketing, student recruitment, admission and retention, student services, tuition setting, resource allocation, and program planning, to support the universitys academic mission. Asset management framework the framework could be a separate document and be referred to in this section. Iso 55000 and asset management 5 ws aditya ramamurthy, pmp, env sp hazen and sawyer. It shows the current performance and service outcomes. Enterprise wide risk management framework march 2017 the information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Strategy sets the strategic framework within which the corporate real estate portfolio will be managed over the next five years.
The strategic asset management framework samf establishes highlevel strategic. Strategic asset management plan 2005 7 renny duckett 1. It outlines the tasmanian governments approach to managing the single. The strategic asset management framework samf is a guide for. Some of these may be document in external documents, including the asset management framework, raci matrices, implementation schedules, organisational risk management processes. Development of a strategic asset management framework.
Project cost control refers to the tcm process as applied at an individual project level to manage costs of creating, modifying, maintaining, or retiring individual strategic. An asset management framework is a set of documents, systems and processes that addresses an organisations asset management responsibilities. However, managing software assets is a unique discipline that requires specialized expertise that many companies do not have inhouse. It is a highlevel strategic document that captures the relationship between organisational objectives and how these translate into asset. The iam competences framework is available for free to paying iam members. A highlevel asset management framework developed in support of the universitys strategic plan that identifies the specific objectives for asset management at the university and establishes a foundation from which detailed asset plans should be developed. Pdf assetmanagement frameworks for infrastructure facilities in. Local government asset management better practice guide 2 introduction local government victoria lgv is pleased to release this better practice guide on local government asset management. Fundamentals of asset management 3 drawing from the am knowledge base this workshop is produced by ghd inc. The iso 55000 family of standards generally referred to as iso 55000, this standard includes three key chapters. Strategic asset management plan framework overview. A conceptual framework to identify capabilities article pdf available in journal of corporate real estate 123.
For strategic asset management to generate maximum impact, senior agency management should ensure that. This module clarifies the standards and provides the model for the content. With the sap asset strategy and performance management application, part of the sap intelligent asset management solution portfolio, you can enable asset owners, managers, plant managers, and reliability engineers to improve control, while making maintenance planning easier and more accurate. The tcm framework is a significant, original contribution to the cost management profession applicable to all industries.
The estates investment portfolio has increased in size since the last asset management strategy was written 5 years ago and now contributes in the. The asset management strategy recognises the need to manage assets effectively as part of the towns service delivery, where service areas delivering the service should be responsible for managing assets that are associated with that service area. Asset management is increasingly well understood by the business community as a strategic and business led discipline, where. For example, the complete segregation of the frontofhouse and backofhouse functions in a museum may be necessary. To continue to ensure this service, ambok publication 000. Current status information management strategy need for clear regulations and guidelines existing information management guidance in petroleum operations notice 9 pon 9 record and. A strategically driven approach to facilities management will provide maximum corporate benefit. Assetmanagement frameworks for infrastructure facilities in adverse. The key 3 asset management documents hp reliability, an. Koppinen and rosqvist3developed a method to fill the 267 void. It is a high level but very important document that guides the overall asset management activities within an organisation. Asset management introduction 1 amp framework the council has adopted a new asset management framework from 2016 which is intended to last us through the next 10 years.
Strategic management is defined as the process of evaluation, planning, and implementation designed to maintain or improve competitive advantage. Free articles on strategic enterprise asset management. These are also provided in attachment 3 of the asset management plan template. London borough of southwark asset management framework 7 asset management framework amf this framework aligns with the two fundamental themes and strategic priorities set out in the southwark sustainable community strategy 2016. Asset management strategy northern beaches council. An asset management framework is a set of documents, systems and processes that addresses an organisations asset management responsibilities in its simplest form an asset management framework may just be the sum of the following documents. Asset management strategy 201525 city of melbourne. Too 27 265 identified the core processes of infrastructure asset management and synthesized a 266 strategic framework for it. It is a management function providing support to corporate operations, enabling the organisation to better achieve its stated objectives. In its simplest form an asset management framework may just be the sum of the following documents. The strategic asset management framework samf pdf, 258kb provides best practice guidelines for managing queensland government buildings, including efficient building use. Producing an easytouse strategic asset management plan framework for queensland health. A look at how preventive maintenance programs help with asset management. The strategic asset management framework applies to all physical assets or groups of assets controlled by the public sector.
Synopsis of iso 55000, 550001 and 55002 and other relevant standards. It is intended to guide future decisions concerning the. It is designed to highlight the principles of, and need for, asset management and give broad guidelines in this regard. Asset description component level what have we got. The asset management policy is a short document, typically not extending more than a single page. Iso 55001 specifies the requirements for an integrated, effective management system for asset management. Strategic asset planning is inextricably linked to corporate planning. It applies to noncurrent assets physical and intangible controlled by agencies. Using asset management to coordinate programs in energy, environment, safety, and.
Strategic asset management framework samf university. Which assets are critical to sustained performance. The highlevel, longterm approach to asset management, including asset management plans and objectives for managing assets. It is an aace cornerstone technical document that joins the current body of. Information and data management across asset lifecycle licensing exploration and appraisal projects and. Undersecretary office of management and finance louisiana department of transportation and development 1. Asset management strategy a fiveyear plan 2018 2023. Iso 55001 asset management management systems requirements 3. Asset management is a process to manage demand and guide acquisition, use and disposal of assets to make the most of their service delivery potential, and manage risks and costs over their entire life. Asset management strategy 2018 2023 asset management strategy 1 version 4. In order to develop, evaluate, compare and refine the options, tradeoffs in the functionality of the asset are identified. Successful strategic asset planning systematically identifies the most efficient, cost effective way to deliver high quality services to the public, whether through smarter use of existing assets and demand management or investment in new capability. This asset management strategy provides a framework to enable acha to manage the stock proactively and support the business plan objectives.
This strategy provides the framework for a new approach, which will enable the oga and industry to. Select a strategy which best exploits the firms resources and capabilities relative to external opportunities. Information technology strategic planning to support asset management department. A samp defines an overarching strategy and process for asset management planning. If including strategic asset management initiatives, also use this section to allocate priority, responsibility, timelines and resources. Coastline housing first implemented an asset management strategy in april 2002 and has maintained one ever since. What can the firm do more effectively than its rivals. Asset planning in government is constantly improving and becoming more robust. Competences framework, 2008 as a reference point, there are seven. Welcome to a wide range of free informative and educational articles on iso 55001 asset management, lifecycle asset management, and enterprise asset management strategy topics to help you reach operational excellence. Provide a framework against which strategies for council assets such as highways, housing and. Rics professional guidance, global strategic facilities. This is a high level strategic document that provides guidelines for the overall asset management activities of the company or an organization. This paper presents the development of a generic framework for asset maintenance management.
State of queensland, department of state development. You are free to copy and communicate this publication, as long as you attribute it as follows. The strategic management frameworks free online course. The asset management framework baruch college cuny. The strategic asset management framework samf is a guide for managing south australian government buildings and establishes a flexible and nonprescriptive guidance to agencies to assist in the appropriate management of their building asset portfolios. The strategic management frameworks arnoldo hax alfred p. The data is obtained from discussions with senior managers responsible for the management of infrastructure assets and analysis of documents. A corporate plan identifies an agencys overall purpose, service delivery goals, budget and capabilities particularly its workforce skills. In practice, providers employ a range of property condition standards to assess their properties, depending on whether the assessment is carried out utilising proprietary asset management software. Auckland transport asset management framework 10 3 the asset management plan the purpose of the asset management plan the asset management plan amp is an umbrella document that gives effect to a range of other strategic and tactical planning documents. The iso 55000 family is the first set of international standards for asset management and includes. Camden council asset management strategy page 5 of 47 the current level of asset management awareness within council has significantly improved from 2009, with a dedicated asset management team being established over the last 3 years, completion of a comprehensive inventory of all assets, and supported by condition assessments of all assets.
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