Strategic Asset Management Plan or Asset Management Plan – Is there a difference?

Jun 16
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The terms Strategic Asset Management Plan (SAMP) and Asset Management Plan (AMP) are often used as synonyms, which can create some confusion. The International Standard, ISO 55001:2014 Asset management – Management systems – Requirements, however differentiates between these two plans and requires both. So, what is a SAMP and what is an AMP, and is there a difference?

ISO 55001 requires the establishment, implementation, maintenance and improvement of an asset management system that “provides a structured approach for the development, coordination and control of activities undertaken on assets by the organisation over different life cycle stages, and for aligning these activities with its organisational objectives” and consists of:

  • an asset management policy;
  • asset management objectives;
  • a Strategic Asset Management Plan (SAMP); and
  • Asset Management Plan/s (AMP).

The standard also requires that the “organisation shall establish, document and maintain asset management plan(s) to achieve the asset management objectives. These asset management plan(s) shall be aligned with the asset management policy and the SAMP.”

This clearly indicates that there is indeed a difference between a SAMP and an AMP.

Strategic Asset Management Plan

A SAMP is defined by ISO 55000 as documented “information that specifies how organisational 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 achievement of the asset management objectives”

It is a high level strategic plan that documents the relationship between the organisational objectives and the asset management objectives, defines “the framework required to achieve the asset management objectives” and “should be used to develop the asset management plan(s).”

Asset Management Plan

An AMP is documented “information that specifies the asset level operational activities, resources and timescales required for an individual asset, or a grouping of assets, to achieve the organisation’s asset management objectives.

The development and implementation of an asset management system is an iterative and structured process that requires a comprehensive understanding of the organisational context and stakeholder needs and expectations, as well as commitment and active involvement by executive management.

Following the Strategic Asset & Facilities Management conference, Dr McDuling will facilitate a workshop on “How to develop and implement a Strategic Asset Management Plan” that will introduce attendees to international best practice and enable them to develop ISO compliant asset management policy and objectives, Strategic Asset Management Plan and Asset Management Plans. Book your place at the conference by July 1st to save $200 on ticket prices. 

Strategic Asset & Facilities Management

Submitted by Dr Johann McDuling

Dr Johann McDuling

Dr Johann McDuling, a HE sessional lecturer at Melbourne Polytechnic, has a PhD (Engineering), is a Fellow of Engineers Australia and a Charted Professional Engineer with 36 years’ international experience. Johann developed an innovative algorithm that quantifies condition changes over time and enables asset service life prediction.

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