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Strategic Asset Management

'Anything is easy, if you can assimilate it to your collection of models'.

Seymore Papert, Mindstorms

Asset Management (AM) is a structured and holistic approach to aligning and managing the performance of assets as an organisational resource to meet business objectives and drivers. It is a top-down policy driven and bottom-up needs verified approach. The process of AM needs to take into account and incorporate:

Strategic Planning

  • Business strategy and objectives.
  • Customer expectations and legislative requirements.
  • Service level strategy.
  • Asset strategy.

Tactical Planning

  • Asset management plan.
  • Marketing plan.
  • Human resources plan.
  • Customer service plan.
  • IT plan.
  • Financial plan.

Operational Planning

  • Implementing AM solutions via projects.

Key activities of AM comprise (NSW TAM Manual):

  • Stakeholder consultation.
  • Developing a Service Level Strategy and Plan, including Demand Management.
  • Developing an Asset Strategy and Plan.
  • Developing a Capital Investment Strategy and Plan, including Procurement and Heritage Management.
  • Developing a Maintenance Strategy and Plan.
  • Developing a Sustainable Development and Plan.

Supporting these key activities is a set of tools:

  • Value Management.
  • Risk Management.
  • Life Cycle Costing.
  • Economic Evaluation.
  • Post-Implementation Reviewing.

Value Solutions have worked with a number of organisations reviewing and implementing Strategic Asset Management including risk based approaches to the management of assets.