The Asset Journal is the Asset Management Council’s official publication.

Commencing in 2007, this quarterly Journal continues to cover the latest asset management and maintenance topics for its members and the wider asset management and maintenance community. It contains technical articles, tutorials, informal articles about current issues in asset management, chapter news, and updates from the CEO and Chairman.

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From the Editor-in-Chief

The Asset Journal, Volume 16, Issue 1

EKrauss

The general theme for this issue is about Strategic Asset Management Plans (SAMP). According to the AM Standard (AS/ISO 55001) the SAMP is the key document that guides the elements of the Asset Management System. I noticed in my practice in Asset Management that many organisations have a different view of the SAMP. The variations extend from a simple 10 year budget spreadsheet to an elaborate 150 page document. I suppose it is about the content in reality and not about the size of the document. BUT – what is a SAMP supposed to deliver?

To deliver the strategic view of an Asset Management System and how an organisation needs to be organised to achieve the best value form this system is of course the main aim of the SAMP. And to define objectives that are to be delivered by the functions in the organisation to support the Business needs. I also observe that at times the strategies are not really defined but the plan is more about how to spend capital.

I think it doesn't really matter what such a document is called, SAMP, Asset reference plan, Business support plan or we called it something else entirely, as long as it is directly connected to the Business Strategy and allows for information flow in two directions – up to the Business Plan and further into the depths of the organisation to provide guidance on the appropriate priorities and activities and of course than back down again or up through a tight feedback loop.

When I talk to organisations about their SAMP, many are concerned that they must invent yet another document. Most likely in many Businesses there are already some strategy or strategic documents extant that can be adjusted and adapted to deliver the likeness of a SAMP. And of course, a SAMP needs to be easily understood and accessed by the various functions as well to enable them to formulate their Asset Management Plans or plans to deliver the objectives that support Asset Management. As such, the SAMP must provide governance for the departments and functions to closely work together, thereby breaking done the many silos that still exist in organisations.

A concise and easy accessible SAMP may be supported by digitisation of Strategies, Plans, Activities and Assets that have all attributes accessible in the digital repository. This would certainly go a long way towards creating a cooperative environment that a SAMP should encourage and deliver. We hope that some of the experiences shared in this Journal will provide ideas how to develop better SAMPs.

We are interested to hear your ideas on this critical topic. Perhaps you have already registered for AMPEAK 2022 in Canberra? This would be a great forum to share your experiences and ideas. We look forward welcoming you at the peak Asset Management event in April!

Ernst Krauss

Editor in Chief 

theasset@amcouncil.com.au 

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