Creating an Asset Management Plan

All organisations should have an asset management plan to ensure long term viability. While there a accounting standards that drive the requirement for an asset management plan, often the plan is produced and then shelved once the "boxes are ticked". 

Our enduring asset management philosophy is that assets are one of the three elements - along with people and cash flow - integral to running a sustainable business. This philosophy is also founded on the belief that an asset management plan is similar to quality management and health and safety systems and indeed can contribute to both.  

TAML can provide all the expertise to get you on the road to developing a sustainable asset management plan that uses the expertise of the staff within your organisation.    

Our preference is for the plan to be largely completed by the staff of the organisation creating ownership of the plan that enhances long term effectiveness. Staff involved with assets are assigned roles as below and the process involves bringing these people together to create a plan for individual assets that culminates in a comprehensive, viable and living plan.
Asset Owner
The Owner is generally the line manager of the user or is a technical manager such as the IT Manager. The Owner is responsible for the quality of the output from the asset and the costs ownership including energy, maintenance, repairs and depreciation.
The Users are the personnel who operate the equipment on a daily basis. In our experience these people have a high level of knowledge of the asset and have good insights into the operational effectiveness of the assets not seen by the Owner. This person usually has a direct line of communication with the Maintainer.
The Maintainer(s) are the people who are responsible for keeping the asset in a suitable state of availability, safe to use and ensures that all legislative and operational servicing is completed. Maintainers can be internal or external to the organisation and usually have a detailed and intimate knowledge of the assets often committed to memory rather than in any formal knowledge base.
Asset Manager
The asset manager is the person responsible for entering the asset into the asset register. This person is generally responsible for entering financial data but the role in some organisations includes the addition of information that supports the asset management function.
Specialist External Consultants
External consultants are used where internal capability does not exist to make a reasonable assessment of the condition of the asset, the cost of repair or replacement or where specialised equipment is needed for testing. External co


Every organisation needs a strategy to make sure the right asset is in the right condition to perform safely, in a cost effective manner, and with awareness of the environment.