The Asset Management Strategy is a key component of an organisation’s planning process linking with the following:
- Corporate Plan;
- Asset Management Policy;
- Business Unit Plans;
- Asset Management Plans.
The objective of the Asset Management Strategy is to provide a direction for AM incorporating a structured set of actions aimed at enabling improved asset management in accordance with the corporate AM policy over a 3 to 5 year period. The result is clearly defined improvement actions addressing the gaps in current practices, prioritised over the alloted timeframe to be implemented and monitored.
A whole of organisation approach is needed when developing the strategy as asset management consists of functions that are used across the business by various business units including planning, finance, infrastructure.
Alignment to the corporate plan ensures the strategy and supporting improvements is based on the direction of the organisation as a whole rather than the direction of the infrastructure group.
A successful strategy is one that has the support of the business at the highest levels to enable the improvement actions to be monitored and implemented with assistance provided to the implementation team when needed.
