Strategic Asset Management Plan (SAMP)
Strategic Asset Management Plans serves as an interface between the organization’s general objectives and strategic plan, as well as the assets and asset management system’s aims and strategies. However, ISO 55001 does not expressly contain the material required for this document. Although ISO 55002 gives some assistance, incorporating all of the content required in ISO 55002 leads to a huge, bulky document that is difficult to update, and thus becomes a big file or database that collects dust and serves no meaningful purpose.
An organization applies a strategy over a long-term planning horizon to determine its investment priorities, utilization of resources, and to refine the efficiency of its processes. While the Strategic Asset Management Plans (SAMPs) may be written in several ways which are all consistent with the Standard, it remains a statement of the Asset Management Strategy.
ISO 55001 in its statement of the elements of the AMS does not specify an Asset Management Strategy. Earlier transcripts of the draft standard noted that the Strategic AMP (SAMP) as specified in the Standard could be interpreted as the strategy document.
Practical experience in drafting a SAMP to observe the requirements of ISO 55001 has shown that the inclusion of the Asset Management Objectives alone is insufficient; more is needed. If the Asset Management Policy provides insight into the goals of the senior executive, the SAMP is a guidance document that assists all stakeholders to understand how asset management by the organization should be delivered. It addresses key issues associated with risks and opportunities, and how decision-making is prioritized.
The Strategic Asset Management Plans have a pivotal role in the overall asset management system (AMS), it describes how organizational goals are to be converted into asset management objectives and systems.
From strategy to planning and delivery, the SAMP attempts to create a logical, intelligible, and structured hierarchy of asset-related operations. It can help achieve value for money from a department’s entire asset investment by driving connected or consequential improvements across all aspects of the asset lifecycle.
AMCO Integrity Pty Ltd assists its customer to develop and implement SAMP that helps to generate a greater return on investment and enhance the asset life with low maintenance cost.
That type of approach is based on cycling through these actions:
- Operate and maintain
You can take more comfortable everyday decisions, but a more strategic approach to how you use your assets now and in the future can have numerous benefits.
These benefits include;
- Changing the organizational mindset from short-term to a more long-term view.
- Aligning business practices around levels of service, costs, and risk profiles.
- Optimizing total asset lifecycle management.
- Establishing a clear vision for how an organization manages its assets around “value.”
Strategic Asset Management Plan also helps businesses;
- Optimizing Asset Life Cycle
- Asset Maintenance
- Increasing Return on Asset (ROA)
- Regulatory Compliance
There are undoubtedly ways to look at your processes with new perspectives no matter where you are on your asset management journey.
Strategic asset management enables you to do so, allowing you to budget for assets and resources more reliably in the future. Please feel free to contact AMCO Integrity Pty Ltd Team for a free quotation.