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Are Asset Class Plans the new Asset Management Plans?

Asset Management plans have been promoted over the years as essential for the ongoing management of infrastructure. The problem I have seen with clients is that they tend to gather dust on the shelf. In addition they can be expensive to produce and are more used as a statement of the now rather than the future.

While I am still an advocate of asset management plans in the correct environment we need to take a step backwards and consider the use of asset class plans. Asset Class plans can be developed in significantly less time, are cheaper to produce, focus on specific asset classes or facilities and provide the asset class strategy moving forward. In addition the plans cut out the wealth of motherhood statements that can be found in Asset Management plans. Given the plans are more specific than their counterpart they can be given to select personnel to keep up to date. Once the plans are produced they can feed asset management plans giving the asset management plans more meaning. Alternatively just compile the findings of the asset class plans into a single summary document.

In essence, if you are considering the production of asset management plans consider producing asset class plans first. Then you have something to work with. If you wish to know more contact me directly.