6.1 Actions to address risks and opportunities for the asset management system

When planning for the…

give assurance that the…

prevent, or reduce undesired…

achieve continual improvement.

The intent of this requirement is to ensure that risk based methodologies are applied by an organisation in pursuit of its asset management outcomes.

When planning the design, implementation, operation, support and improvement of the asset management system, the organisation should consider the external and internal issues relevant to its purpose that affect its ability to achieve the intended outcomes. It should also consider the relevant stakeholders and their requirements and expectations with respect to asset management.

When planning the design, implementation, operation, support and improvement of the asset management system the organisation should explicitly consider the risks associated with the design, the implementation, the operation, the support and the improvement of the asset management system.

The criteria for asset management decision making should include reference to a risk based methodology.

Risk based methodologies include the treatment of both risks and opportunities.

2024  Actions to address risks and opportunities are now covered in two separate subclauses, recognizing that most organizations handle them differently and do not always view them as opposites.

A risk based methodology exists for decision making within the organisation.

A common approach exists for the assessment, categorisation and treatment of risk within the organisation.

Risk registers exist at various levels within the organisation. Or similar.

The organisation shall plan:

1. actions to address these…
2. how to:

integrate and implement the…

evaluate the effectiveness of….

The intent of this requirement is to ensure that risk management plans are actioned and reviewed at regular intervals.

A risk management plan outlines the activities, responsibilities and resources required to treat identified risks and opportunities.

Multiple risk management plans may exist.

Risk management plans exist at various levels of the organisation.

All risk management plans are traceable back to a common risk management approach that uses approved decision making criteria.

Or similar.