6.2.3

When planning how to…

1. the method and criteria…
2. the processes and methods…
3. what will be done;
4. what resources will be…
5. who will be responsible;
6. when it will be…
7. how the results will…
8. the appropriate time horizon(s)…
9. the review period for…
10. actions to address risks…
11. identification of risks and…
12. assessment of risks and…
13. determining the significance of…
14. implementation of the appropriate….

The intent of this requirement is to ensure that asset management plans contain sufficient content to meet the requirements of the asset management system.

Organisations should design, implement, operate, support and improve processes, plans and activities that support the achievement of asset management objectives.

When planning the design, implementation, operation, support and improvement of asset management objectives, organisations should consider the design, implementation, operation and improvement of an asset management system that:

• provides technical and financial risk based decision making processes for the design, implementation, operation, support and improvement of the asset management objectives;
• utilises the agreed decision making criteria;
• considers the timeframes over which the asset management objectives are relevant; and

achieves the appropriate balance of support costs, residual risk and system/asset performance.

The strategic asset management plan identifies the processes used to identify the need for, develop the use of, and then implement and improve asset management plans.

The processes to be used to identify, analyse, synthesize and mitigate the risks associated with the development, operation and improvement of asset management plans.

The strategic asset management plan identifies processes and methods used to manage assets over their life.

Asset management plans identify a horizon.

Asset management plans identify activities to address identified risks and opportunities for specific assets.

Asset management plans identify the resources required to conduct the activities identified.

Asset management plans identify the necessary roles and responsibilities to conduct the activities identified.

Asset management plans identify a timeframe for activities.

The strategic asset management plan describes how the asset management plans will be evaluated.

Asset management plans contain details of funding and other financial implications.

A review schedule exists for asset management plans documented as part of the strategic asset management plan and for each separate asset management plan.

Asset management plans identify a priority (significance/criticality) based on their impact on the achievement of asset management objectives.

There is documented evidence of the execution of and compliance to asset management plans.

There is documented evidence of the improvement of asset management plans.

Or similar.

Strategic Asset Management Plan

Asset Management Plans

The organisation shall ensure…

The intent of this requirement is to integrate the identification and treatment of asset management risks with the broader organisational risk management approach.

Contingency plans are activities applied to address exceptional risks where normal treatment or acceptance of a risk is insufficient to meet the outcomes of the asset management system.

Technical and financial risk based processes are applied to assets in their operating context. Such technical and financial risk based processes may include:

• reliability and availability analysis and modelling;
• maintainability and supportability analyses;
• failure mode effect (and criticality) analyses;
• reliability centred maintenance;
• return on investment analyses and level of repair analysis;
• safety case analyses;
• job safety analyses.

Risk management principles should also be applied to the design, implementation, operation, support and improvement of the asset management system.

The strategic asset management plan describes how the asset management risk approach is consistent with, and integrated into the organisation’s risk management approach.

Systems Engineering Management Plan for the engineering management of the design, implementation and improvement of the asset management system and the development of asset management plans.

A risk management plan is associated with the design, implementation, verification and validation of the asset management system.

A risk management plan is associated with asset management plans.

Relevant contingency plans exist for the asset management systems.

Risk register(s) exist for the asset management system. Or similar.

No artefact is specified.