Benefits of an Asset Class Plan

Benefits of an Asset Class Plan

Before I begin, what is an Asset Class Plan? An Asset Class Plan as the name suggests is an plan for asset classes or asset groups at a lower level than the asset management plan. The benefit of the asset class plan is that it is focused at a practical level and can therefore be used by the technical personnel to plan the management of the individual asset classes in the short and long term.  The level of each type of plan is identified in the following figure.

Asset Management plans tend to focus at the highest level e.g. Sewer or Water assets whereas the asset class plans focus at the asset class or facility level. Using this philosophy the plans can be produced for any industry.

The benefits of the Asset Class Plans are therefore:

  • Quicker and less costly to produce than Asset Management Plans
  • Knowledge transfer is simpler with the methodology we use
  • Quicker for clients to learn and be readily produced by clients
  • A template can be developed for each client
  • Contains the same table of contents as the Asset Management Plan
  • Smaller in size. Based on experience 40 pages as opposed to the Asset Management Plan which can be up to 200+ pages
  • Greater output focus and more specific to the asset class
  • Can be assigned to an individual or group to manage and update
  • Becomes part of the planning and budget process
  • Can be readily updated

Odysseus has produced some 30+ asset class plans. Our methodology means clients are not inconvenienced and can now produce their own plans. If you want to know more contact us