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What is an Asset Management Plan? Introduction:

What is an Asset Management Plan? Introduction:. An Asset Management Plan is a long range planning document that can be used to provide a rational framework for understanding the following:. What is an Asset Management Plan? Introduction:.

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What is an Asset Management Plan? Introduction:

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  1. What is an Asset Management Plan? Introduction: • An Asset Management Plan is a long range planning document that can be used to provide a rational framework for understanding the following:

  2. What is an Asset Management Plan? Introduction: • The assets owned and services provided • The present and future demands on the infrastructure assets that are critical for delivering the organizations level of service. • The current estimate of short term & long term financial commitments. • The current and proposed policies, strategies and programs that are necessary to meet the long term provision of services.

  3. What is an Asset Management Plan?Introduction: • The business risk exposure associated with the potential failure of assets to meet the expected levels of service. • The linkages necessary between strategic business objectives & the service that the assets are delivering. • The organizational continuity that will span organizational changes and the transfer of asset management knowledge between successive generations of utility managers.

  4. What is an Asset Management Plan?Introduction: The basic functional process for developing the information in an asset management plan: • Know the physical and functional characteristics of the asset. • Determine an acceptable level of service. • Determine the current condition & performance of the asset.

  5. What is an Asset Management Plan?Introduction: Determine the asset’s likely failure modes : • Physical mortality, condition or structural failure, or end of useful life. • Under capacity, no longer meets requirement. • Level of service, not meeting an established LOS. • Efficiency, or no longer economic to own & operate.

  6. What is an Asset Management Plan?Introduction: • Determine the optimal solution to overcome a failure mode. • Document these decisions in the AMP. • Review the draft AMP against your capacity & capability of completing the plan. • Rationalize & document trade offs to implement the plan. • Review & update periodically.

  7. What is an Asset Management Plan? • The AMP is a consolidation of all the information that is currently available. • The plan shows the management strategy and related cost implications. • Throughout the life cycle of the asset; • An asset management plan is a written representation. • AMP are an indispensible management tool.

  8. What is an Asset Management Plan? • A properly prepared AMP can improve your ability to meet your goals & objectives. • Your AMP can act as a vehicle through which you can communicate with customers, regulators & stakeholders.

  9. Why is an Asset Management Plan needed? • This question is often asked. • In most cases …you are. • Throughout the world, infrastructure assets are beginning the reach maturity. • The consequence of these failures are; 1.) Cost of repair. 2.) Customer service issues. 3.) Fines from environmental damage & legal issues.

  10. Why is an Asset Management Plan needed? • 30 to 50 years ago there were less assets to manage. • It is getting easier to monitor assets now. • No longer can valuable community assets by managed simply on the memories of staff.

  11. Why is an Asset Management Plan needed? • Typical infrastructure assets include; 1.) Water treatment plants 2.) Wells 3.) Water mains 4.) Water reservoirs and tanks 5.) Water appurtenances, valve meters & hydrants 6.) Pump stations

  12. Why is an Asset Management Plan needed? • The high number of assets with their age have made asset management impossible without appropriate help. • By having suitable information systems, processes & practices, staff can provide an accurate picture of the complex questions relating to the assets.

  13. Why is an Asset Management Plan needed? • Information systems will only provide meaningful beneficial output, if the environmental & social aspects of managing community assets, are also included. • An organization must also be able to predict potential issues and needs, and establish strategies to overcome these forecasted issues.

  14. What should an AMP consist of? Executive Summary State of the Assets Section - 1 Levels of Service Section - 2 Growth & Demand Section - 3 Lifecycle Management Section - 4 Augmentation O&M Renewal Management Strategies Section - 6 Financial Planning Section - 7 Risk Profile Section - 5 Business Improvement Plan Section - 8

  15. What can be done with an AMP? • Gain a clear picture of it’s asset commitments. • Effectively use committed funds. • Identify project & strategies. • Identify any future business risks.

  16. What can be done with an AMP? • Identify assets for which rehabilitation or refurbishment could prove to be cost effective. • Understand which assets are most critical. • Understand those assets and future service obligations which represent the greatest risk.

  17. What can be done with an AMP? • Focus your maintenance efforts. • Consider both capitol & operational expenditures. • Assess inter-generational equity. • You will be able to validate or justify the future expenditures.

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