Asset Management Improvement Plan

An Asset Management Improvement Plan is a strategic plan that provides for monitoring and control of the Asset Management Improvement Activites. It provides the link between the Asset Management Strategy and the annual operations plans and budgets. This plan will ensure that acceptable progress is made on improving asset management processes and procedures and that progress can be verified and quantified.

It is a straight forward plan that will ensure good asset management (and project management) practices are applied to this very important activity. It provides a monitoring and control mechanism to ensure the overall process stays on track (on plan). The Asset Management Improvement Plan should ensure asset management progresses at an acceptable pace and moves in the "right" direction - that is "improvement" is embedded in the process.

The Asset Management Improvement Process involves;

  1. Selecting a team and allocating responsibilities
  2. Defining and getting agreement on performance measures from each asset manager in terms of quality, quantity, timing and budget
  3. Training relevant staff in Asset Management concepts and principles, software/systems usage, data collection and the importance of keeping information up to date - Good Asset Management Practice.
  4. Monitoring and reporting on progress through well defined key performance indicators (KPI)

That is the Asset Management Improvement Plan is designed to ensure Good Asset Management Practice is embedded into the Asset Management implementation project and good project management pratice with adequate performance measurement is put in place.

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