Asset Management Body of Knowledge
Promoting understanding through developing a body of knowledge in asset management.
The Asset Management Council (AM Council) supports professional recognition, collaboration and information sharing that contributes to a common understanding of the value of effective asset management.
The AMBoK provides a framework in which to address the ever-changing landscape in which we operate with a scientific, evidence-based approach to risk assessment that underpins decision making.
The AMBoK represents a set of standard models, terminology, and guidelines (a body of knowledge) specifically for asset management.
The AMBoK continues to develop over time with the input of the AMBoK team, comprising numerous senior professionals within asset intensive industries, contributing on a voluntary basis. Their collective insights, knowledge, and willingness to share makes AMBoK accessible to members of the Asset Management Council and the broader asset management community.
Asset Management Fundamentals
The AMBoK 000: Framework for Asset Management 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.
Asset Management Definition
The AM Council defines asset management as ‘The life cycle management of physical assets to achieve the stated outputs of the enterprise’.
Asset Management Principles
Asset management is founded on a set of principles. If any one of these principles is missing from the management of assets, the organisation will likely see a reduction in the value that its’ assets provide. The principles should directly influence an organisation’s asset management systems and plans and include:
Output Focus, Capabilities, Level Assurance, and Learning Organisation.
Asset Management Models
The AM Council has developed several models that illustrate conceptually the key fundamentals and framework for asset management.
|Asset Management Concept Model
|Conceptually presents the basis of successful asset management.
|Asset Management System Model
|Illustrates the key components of an asset management system and how they inter-relate.
|Organisational System Model
|Depicts the typical components of an organisation’s management system and how they integrate.
|Capability Delivery Model
|Schematically presents processes, within a number of disciplines, that may be used in part or entirety, to deliver successful asset management.
|Conveys the extent to which leadership, culture, human performance and the asset management system are integrated into the whole organisation, while contributing to its success.
AMBoK and AM Council programs
- Collectively, the AMBoK Definition, Principles and Fundamentals, and Models provide a governance framework that influences the programs and services that AM Council provides.