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A plan developed for the management of one or more infrastructure assets that combines multi-disciplinary management techniques (including technical and financial) over the lifecycle of the asset in the most costeffective manner to provide a specified level of service. A significant component of the plan is a long-term cashflow projection for the activities. IIMM
An Asset Management Plan (AMP) is a plan developed for the management of one or more infrastructure asset classes with a view to operating, maintaining and renewing the assets within the class in the most cost effective manner possible, whilst providing a specific level of service." LGAM
The active intervention in the market to influence demand for services and assets with forecast consequences, usually to avoid or defer CAPEX expenditure. Demand management is based on the notion that as needs are satisfied expectations rise automatically and almost every action taken to satisfy demand will stimulate further demand.
IIMM
(ODM) Two definitions are: 1. ODM is a formal process to identify and prioritise all potential solutiuons with consideration of financil viability, social and environmental responsibility and cultural outcomes. 2. An optimisation process for considering and prioritising all options to rectify existing or potential performance failure of assets. The process encompasses NPV analysis and risk assessment.
IIMM
The focus of the audit is to check the Asset Management Plan has:
- well-defined justifiable levels of service
- minimum assumptions relating to asset information
- a robust AM improvement programme with task priorities and resource requirements identified
- an enhanced description of AM techniques used to establish the most cost-effective (optimum) asset lifecycle treatment options (i.e. risk management, > predictive modelling and optimised decision- making)
- quality presentation, including a stand-alone executive summary and extensive use of figures and tables
- a focused plan with extensive use made of appendices.
IIMM