Fundamentals of asset management the enterprise asset management plan asset system summary 1. Asset management strategy vs strategic asset management plan. Asset management plan setting out their broad objectives for the management. This document serves as txdots transportation asset management plan tamp. Asset management planning is a comprehensive process to ensure delivery of services from infrastructure is provided in a financially sustainable manner. Infrastructure asset management planpdf, 3mb shire of toodyay. The aim of the strategic asset management plan samp is to set out the councils vision, aspirations and objectives for its land and property assets portfolio. An effective it asset management itam solution can tie together physical and virtual assets and provide management with a complete picture of what, where, and how assets are being used. It is a compilation of many documents that describe the evolution of the asset management implementation in cambridge over the past 7 years aligned to the. Such activities can be recorded as strategic asset management initiatives. The asset management company works together with its banking, trust banking, securities, and companies providing asset management to serve the needs of a wide range of customers. It asset manager administers, supports, and manages the contracts for technology spending on it assets. Ii this report was prepared by wsp usa for the account of kansas department of transportation, in accordance with the professional services agreement. Links to other asset management concepts through the process of developing a transportation asset management plan tamp, state dots identify an investment strategy that reflects their plans for managing highway assets over the next 10 years.
Developing and maintaining a strategic asset management plan samp pdf overview this publication provides practical advice for the development of a strategic asset management plan samp. Implementation program describes metros implementation program for asset management. An asset management plan is a strategic planning document that will sit alongside other key planning documents in the organisation eg a strategic plan, a. The council has a number of heritage buildings within its portfolio and therefore there is appropriate regard to and priority given in planning asset management to. The city of port lincoln owns and is responsible for the management, operation and maintenance of a diverse asset portfolio that provides. Use public and commercial benchmarks and best practices. The disclosure of any information contained in this report is the sole responsibility of the intended recipient. This riskbased transportation asset management plan tamp documents and organizes the existing asset management practices at the kansas department of transportation kdot to enhance strategic investment in highway assets, while meeting federal requirements. 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. Replace asset with similar replace with an improved asset, and reduce levels of service business improvement planning describes any process improvements or projects required to improve the quality of the asset management planning at the dot. Transit asset management plan washington metropolitan area transit authority iv section 6. Strategic asset management plan 2005 3 foreword the publication of the strategic asset management plan samp fulfils an important departmental commitment. Itam enhances visibility for security analysts, which leads to better asset utilization and security. A tam plan uses transit asset condition to guide how to manage.
A transit asset management plan tam plan is a strategic and systematic planning tool to manage transit capital assets based on careful planning and improved decisionmaking and is required of all providers by the federal transit administration fta. This asset management plan is intended to describe the infrastructure owned. This includes an action plan, an implementation timeline, a list of key annual activities, and identification of required resources. Plan maintenance track asset history retire dispose assets refresh hardware update records complete it asset management lifecycle with functions and activities. It is recognised good practice for local authorities to produce a strategic. Statewide asset management plan asset management is a strategic, riskbased pdf 534 kb approach to costeffectively and efficiently manage the assets of washingtons transportation system. However, the definition of the strategic asset management plan contained within iso 55001 states that it is documented information that specifies how organizational objectives are to be converted into asset management objectives, the approach for developing asset management plans, and the role of the asset management system in supporting. Fundamentals of asset management the enterprise asset management planasset system summary 1.
It asset manager is accountable for the whole asset management practice and its encompassing processes and activities. Management planning is an essential part of the processes needed to be implemented by an organization to assure that the goals and objectives of the company are achieved. Although this document is limited to establishing itam policy, the success of the. Fundamentals of asset management 19 sustainable, best value service delivery. California transportation asset management plan tamp pdf august 2019. Asset management is a process that guides the acquisition, use and disposal of assets. Developing and maintaining a strategic asset management. Introduction it is the a priority of the department to effectively meet its office and residential accommodation needs.
Followup and continuing steps the five core questions framework for asset management is the starting point for asset management. An asset management program is necessary to optimize service and minimize cost over the life of the asset. This includes an action plan, an implementation timeline, a list of key annual activities, and identification of. California transportation asset management plan tamp new august 2019.
Asset management planning provides your organization with best practices for the operation and maintenance of your assets so money. The lcp guides the development of this investment strategy by using asset. Beyond planning, asset management should be implemented to achieve continual improvements through a series of plan, do, check, act steps. Holding assets is a part of any enterprise in the public or private sector. Asset registry developed that is a database or spreadsheet inventory of all assets within an asset. Cdotdtdr2001 prepared by cambridge systematics brw 150 cambridgepark drive, suite 4000 1225 17th street, suite 200 cambridge, ma 02140 denver, co 80202 sponsored by the colorado department of transportation. An asset management plan defines the activities that will be implemented and the resources that will be applied to meet the asset management objectives and consequently the organizational objectives. Developing and maintaining a strategic asset management plan. Asset management helps ensure that utilities achieve defined levels of service and maintain and renew their assets in a costeffective manner.
You need to know what assets you have, where they are, what their value is, when they were built and how long their predicted lifespan is. Developing asset management plans life cycle engineering. Newly formed asset management one will commence operations in october 2016 and bring together the asset management functions of the group in a single company. Disposal of garbage in accordance with the waste management plan. Optimizes cost and risk use asset condition to inform asset decisions likely will use all three options for specific equipment types.
The business vision for this asset management plan amp is derived from the departments planning and performance framework as outlined in the strategic plan for fiscal years fy 2011 2016. Asset management plan preface this asset management plan is intended to describe the infrastructure owned, operated, and maintained by the city of cambridge to support its core services. Asset management plan 20172020 eden district council. The same outcome could be achieved by referencing separate project schedules or asset management plans. The washington state department of transportation wsdot maintains the states transportation system on a systematic basis. Asset management plan d epartment of f oreign a ffairs strategic plan 2003 2005 68 part 4 asset man pages 68 71 5703 8.
This document, the nasa real property asset management plan, is the final part of a twopart foundation laid to promote efficient and economical use of its real property assets in accordance with executive order 327 and the direction of the. The awwa asset management committee has produced three reports examining the state of asset management and leading business practices in asset management. It asset management white paper one of the most exciting aspects of having itam on the servicenow platform is. A management plan example is generally used by companies or businesses so that they can be guided by the managements practices and principles. Asset management implementation plan and tiered system process by michael j.
The asset categories have whole of life asset management plans with the following types of program work and capital investment. It is the culmination of a great deal of research, consultation and development by staff of the asset management group. Strategic asset management plan transport tasmania. Strategic asset management plan london borough of barnet. Constructing your asset management plan before you begin your journey into the world of asset management, you need a game plan. Asset management plan assessment guide this document is intended to provide water system personnel with a tool to evaluate and improve the accuracy and completeness of the facilitys asset management plan amp. Inventory and conditions summarize the current condition and performance of the assets. This helps them apply these practices in the operations of the business. Asset management plan template example 4 transportation.
It explains the process of strategic planning and how this applies to. Beyond planning, asset management should be implemented to achieve continual improvements through a. Strategic asset management plan march 2016 3 ceo organization asset management branch the new asset management branch branch will provide more effective leadership of the countywide asset management program, helping the board meet its goals and objectives by better defining needs and realistic outcomes, and by aligning. It asset management itam is a set of business practices that join financial, contractual, and inventory functions to support life cycle management and strategic decision making for the it environment 1. A step by step asset management plan 6 completing an asset inventory an asset inventory or register is your starting point and will become the basis of your asset management plan. This document is intended to be a resource on components that should be considered for inclusion in the amp. An asset management plan is a strategic planning document that will sit alongside other key planning documents in the organisation eg a strategic plan, a business plan, a risk management plan, and financial budgets and forecasts. Federal requirements and guidelines through recent transportation funding bills map21 and the fast act, federal law requires each state to develop and implement a risk based asset management plan for the. It asset management plan 20162020 australian energy regulator.
It asset management software asset mgmt contract service release cmdb discovery runbook catalog cost mgmt it asset incident change mgmt governance request provide service portal browse service catalog trigger work. If including strategic asset management initiatives, also use this section to allocate. To promote the responsible maintenance, investment, andrehabilitation of new jersey s clean water and drinking water systems, the new jersey department of nvironmental e protection dep is providing this technical guidance. There are hundreds of books written about leadership, and each one has some valuable point to.
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