The asset management strategy sets out the strategic framework to provide excellent housing and support services, invest in our homes and neighbourhoods, grow the organisation sensibly and continuously improve our financial strength. Provincial treasury has an asset management framework, various asset management guidelines and a generic asset management policy which could be used by kzn provincial. This strategy has been developed as part of a longterm plan to assess, monitor and plan for the assets that will be needed by the city of melbourne in the coming decade. For many companies, the information technology infrastructure library itil framework has been deployed as a major methodology component for managing the operational side of information technology. Asset management strategy the asset management process is one of continuous improvement, focused on four primary elements of the asset management cycle. The cama exam is offered by world partners in asset management, a subset of the global forums members. A strategic asset management framework samf, ties an asset management organisation from end to end, and is targeted at improving efficiencies, effectiveness and overall performance whilst meeting the business objectives. This asset management strategy provides a framework to enable acha to manage the stock proactively and support the business plan objectives. This is a topdown function of setting a performance specification for each major operating unit, identifying the critical components of performance, and systematically improving the key. The same outcome could be achieved by referencing separate project schedules or asset management plans. Strategic asset management framework the application of value management also promotes benefits within an agency, including. An asset management decisionmaking framework needs. This international standard can be applied to all types of assets and by all types and sizes of organizations. Ideally, the merged asset management plans would tightly align with the objectives and service levels of a councils strategic planning process and be.
Pdf purpose the purpose of this paper is to develop a conceptual framework. Asset management fhwa us department of transportation. This international standard provides an overview of asset management, its principles and terminology, and the expected benefits from adopting asset management. In powerlink, asset management philosophies are applied at every stage of an assets life. The objective of the council asset management practices improvement strategy is to ensure that council meets the required level of service, both now and for the future, in the most costeffective way through the creation, acquisition, maintenance, operation, rehabilitation and disposal of community assets. This document replaces the estates management strategy 20112015 and should be read in conjunction with the councils land and property rules.
Such activities can be recorded as strategic asset management initiatives. Camden council asset management strategy page 5 of 47 the current level of asset management awareness within council has significantly improved from 2009, with a dedicated asset management team being established over the last 3 years, completion of a comprehensive inventory of all assets, and supported by condition assessments of all assets. This asset management strategy identifies the challenges that council faces and provides a strategic framework within which council will work to manage its assets for the benefit of the community. It applies to noncurrent assets physical and intangible controlled by agencies. Transportation asset management is a strategic and systematic process of oper ating. A corporate plan identifies an agencys overall purpose, service delivery goals, budget and capabilities particularly its workforce skills. A strategic asset management plan samp is a document that specifies how the organizational objectives are to be converted into asset management objectives. This framework, developed by the kpmg board leadership center in collaboration with professor george serafeim of harvard business school, will form the basis for deeper dives and case studies in future white papers. Using an asset management framework to drive process safety.
An integrative strategic framework adaptive processes strategic agenda competitive positioning. The key to a successful sam implementation is the creation of a detailed asset management implementation plan combined with an effective change management plan that supports that strategy. Strategic asset management framework 3 1 introduction 1. The generic asset management system see figure 1, which serves as a framework and guide to the asset management process, shows the importance of defining goals and policies at the start and using performance monitoring as a check. Transportation asset management is a strategic and sys tematic process. A system can be either policydriven or performancedriven as long as one is used as a balance for the other. Bradley peterson abstract this article explores a broader vision for asset management than has been previously articulated and brands this vision strategic asset management sam.
As the business world continues to find likeminded organizations bent on success contingent on complementary abilities, successful managers must learn how to manage through the turmoil of change. A mismatch occurs when the two disciplines work independently. A citys health can be measured by the quality of its infrastructure. Management framework the s1 to s5 standards see page 7.
The strategic asset management framework applies to all physical assets or groups of assets controlled by the public sector. Note 1 this international standard is intended to be used for managing. Developing an asset management strategy reliabilityweb. These are also provided in attachment 3 of the asset management plan template. Development of a strategic asset management framework. Strategic 2014 asset management plan modern mindset.
In addition, it describes the approach the organization takes to comply with these asset management objectives. It is a high level but very important document that guides the overall asset management activities within an organisation. The estates investment portfolio has increased in size since the last asset management strategy was written 5 years ago and now contributes in the. Strategic asset planning is inextricably linked to corporate planning. Asset management is a process to manage demand and guide acquisition, use and disposal of assets to make the most of their service delivery potential, and manage risks and costs over their entire life. An asset management framework is a set of documents, systems and processes that addresses an organisations asset management responsibilities. The framework establishes a highlevel, systematic approach that supports local governments in moving toward service, asset and financial sustainability through an asset management process. Need to link renewal to augmentation projects and merge align funding. Asset management strategy 2018 2023 asset management strategy 1 version 4. Pdf comprehensive asset management should be embedded in.
The strategic asset management framework samf is a guide for managing south australian government buildings and establishes a flexible and nonprescriptive guidance to agencies to assist in the appropriate management of their building asset portfolios. Strategies for implementation asset management overview. The strategic asset management framework samf establishes highlevel strategic. Information technology strategic planning to support asset management department. Developing an asset management strategy, policy and plans. It identifies the asset and related demand management measures upon which service delivery will depend. An asset management framework shows how and where a members knowledge and. Using an asset management framework to drive process safety management and mechanical integrity as defined in the new iso 55000 series of standards, asset management identifies the value that assets create for internal and external stakeholders while also understanding and properly mitigating the risks to that value creation. While much has been written about the financial aspects of merging companies, far less attention has. An alternative is to use existing plans and align with an overall framework. It is designed to highlight the principles of, and need for, asset management and give broad guidelines in this regard. Asset management strategy a fiveyear plan 2018 2023.
Do you have a strategy or even an asset management plan. Coastline housing first implemented an asset management strategy in april 2002 and has maintained one ever since. Asset management strategy bogan shire council jayantha ediriweera water and asset manager page 5 asset and water manager the useful life of an asset is the period from when it is constructed until it reaches its defined intervention level. The strategic management frameworks arnoldo hax alfred p. It helps to ensure that resources for maintaining the assets in good condition and investments made are clearly focussed. Overall strategic asset management plan and implementation costs totaled from page 2 and 3 provide consolidated cost estimates for an integrated asset management strategy to the most accurate class of estimate practical to ensure the proposed strategic asset management framework remains integral to the. Success of an asset intensive organisation is based on adoption of high quality asset management practices and systems. Developing an asset management strategy strategic asset management involves managing the capital investment towards a longterm program of increasing the roa.
Asset management and our conceptual model david mckeown ceo, institute of asset management. The asset management strategy recognises the need to manage assets effectively as part of the towns service delivery, where service areas delivering the service should be responsible for managing assets that are associated with that service area. The objective of this asset management strategy ams is to develop a structured set of strategic actions aimed at enabling council to improve its asset management practices to support councils asset management policy and service delivery needs. In its simplest form an asset management framework may just be the sum of the following documents. For example, the complete segregation of the frontofhouse and backofhouse functions in a museum may be necessary. It will guide our future strategic property decisions to ensure we manage our property portfolio sustainably and efficiently so.
Determine the preferred enterprise management frameworkhow the agency will. In many asset management applications, there is a need to combine. If including strategic asset management initiatives, also use this section to allocate. This asset management strategy is the foundation for infrastructure best practices that will allow us to provide effective municipal service while balancing smart growth with a sustainable quality of life. These same organizations rely on project management methodologies for new capital development and enhancements. In order to develop, evaluate, compare and refine the options, tradeoffs in the functionality of the asset are identified. The distinction between strategic thinking, strategic management and strategic planning 45 strategy in actionquick strategic thinking in unfavourable circumstances45 strategy in actionsony the disruptive innovator 50 principles for the successful use of strategy 61 finding the right strategic mix of entrepreneurial creativity and. In practice, providers employ a range of property condition standards to assess their properties, depending on whether the assessment is carried out utilising proprietary asset management software. Asset management strategy 202017 doing things differently kccs asset management strategy sets the highlevel strategic framework for managing our property portfolio effectively over the next 3 to 5 years. Your strategic plan for asset management is developed, tested, and implemented onsite in an iterative approach that achieves real, practical results.
Framework for asset management, second edition presents an intellectual framework and context through which asset management information can be developed and universally understood, whilst providing opportunities for both individuals and organisations to build their asset management capabilities. The framework recognizes there are many components within the asset management process and provides a circular, continuous pathway to link all components of. Integrating project management and service management. In response, many asset management firms are turning to strategies reliant on scale, hoping that. Strategic planning for asset management an overview. This merged strategic asset management plan 2016 to 2020 is based on plans. We argue that a strategic standpoint for asset management establishes a framework. Asset management is the generic process that seeks to ensure that land and buildings, as the asset base of an organisation, are structured in the best corporate interests of the organisation concerned. Jan 28, 2019 merger mania is a rage that is not abating.
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