Asset Management Plan (AMP)

The Asset Management System (AMS) must support the vision and objectives of the organization to be enabled by assets that perform their intended function when required with an acceptable level of risk.

It is essential that the management and delivery of the AMS gain the confidence of the executive up to the Board level or equivalent. This will be achieved by reporting the performance of the AMS and demonstrating progress in achieving the corporate objectives, both now and into the future. Future risk to achieving the corporate objectives is of specific concern to the executive as well as shocks to the organization as assets fail and operations are interrupted in the immediate term.

The delivery of the AMS should demonstrably align with the cultural values of the organization. These will relate to internal stakeholders such as the organization being a premium employer, or to the community in which the organization operates, or other stakeholders who can be considered within the focus of the corporate objectives.

The AMS of even quite modest organizations is complex and can be challenging to communicate.  People will view the AMS through different lenses: financial outcomes, engineering delivery, operations, safety, and so forth. They operate at different levels in the organization and have different personal requirements as to what the AMS must deliver for them. This situation becomes more complex as the organization seeks to communicate its approach to external stakeholders.

The AMS is more than a set of high-level processes drawn on a simple flow chart. it is the potential interaction of thousands of people with hundreds of thousands of maintainable items, delivering a myriad of individual internal outcomes every working day of the organization. 

The challenge is to communicate the AMS in such a way that it is both meaningful to the individual and helps them place their requirements in context with those of other stakeholders, both internal and external.

When an organization seeks to define its AMS, it must do so in a consistent manner that makes sense for its operational context (type of industry, market, size, etc.) and maturity of systems and processes.  Since there is no single way that represents best practice, the organization should select its approach based on what best aligns with known industry good practices, culture and understanding of its leadership, and a recognized framework such as ISO 55001.

Without good data and supporting analysis, fact-based decision-making leading to continual improvement is not possible. Asset Information Systems refers to the minimum set of information management capabilities essential for the lifetime management of the assets. Their requirements include:

  • Competency requirements needed for support;
  • Enhanced usability such as mobility;
  • Documentation to allow diagnosis and repair;
  • Reporting;
  • Integration with other systems;
  • Training requirements;
  • Support requirements for databases, access, training, licenses, and upgrades.

The use of systems that are not related to specific control of hardware must conform to IT change management rules in place within the organization. The technology used by the systems must be appropriate to minimize the risk of obsolescence either of hardware or software.  Where possible existing systems should be fully utilized and if an alternative or enhancement is required, the business case should be provided by an expert project team working with specialists.

To develop good asset management plans the organizational and asset management objectives should be clear, and preferably SMART: a commonly applied acronym which was introduced as:

  • Specific – target a specific area for improvement;
  • Measurable – quantify or at least suggest an indicator of progress;
  • Assignable – specify who will do it;
  • Realistic – state what results can realistically be achieved, given available resources; and
  • Time-related – specify when the result(s) can be achieved.

AMCO Integrity Pty Ltd  support includes; 

  • 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 organization 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 organizational levels
  • Providing on-the-job coaching and guidance to implement asset management plans

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Strategic Asset Management Plan (SAMP)

SAMP begins with sales forecasting, through production planning, includes all facets of manufacturing, and ends with the delivery of the product to a customer.

ISO 55000 Alignment & Compliance

This assessment will result in a roadmap and detailed implementation plan for asset management improvement that is aligned with the ISO 55001 good practice.

Asset Criticality Assessment (ACA)

Asset Criticality Analysis is a process by which assets are assigned a criticality rating based on their potential risk.

Risk Management

Risk Management is process whereby organizations methodically address the risks attached to their activities with the goal of achieving sustained benefit.

Asset Strategy Management

AMCO Integrity Pty Ltd provides a wide range of maintenance strategies and reliability management services.