Organisation A recognises effective asset management contributes to achieving organisational objectives. The policy commits to maximizing asset value through balancing benefits, costs, and risks over the short and long term in a sustainable way. To meet this, Organisation A will ensure compliance with statutory requirements and other policies, consider stakeholder needs, align functions impacting assets, manage assets using recognized techniques, assess risks and economics, make purchase/replacement decisions based on demand and costs, operate and maintain assets disciplinarily, improve processes, and provide adequate resources.
Organisation A recognises effective asset management contributes to achieving organisational objectives. The policy commits to maximizing asset value through balancing benefits, costs, and risks over the short and long term in a sustainable way. To meet this, Organisation A will ensure compliance with statutory requirements and other policies, consider stakeholder needs, align functions impacting assets, manage assets using recognized techniques, assess risks and economics, make purchase/replacement decisions based on demand and costs, operate and maintain assets disciplinarily, improve processes, and provide adequate resources.
Organisation A recognises effective asset management contributes to achieving organisational objectives. The policy commits to maximizing asset value through balancing benefits, costs, and risks over the short and long term in a sustainable way. To meet this, Organisation A will ensure compliance with statutory requirements and other policies, consider stakeholder needs, align functions impacting assets, manage assets using recognized techniques, assess risks and economics, make purchase/replacement decisions based on demand and costs, operate and maintain assets disciplinarily, improve processes, and provide adequate resources.
Organisation A recognises effective asset management contributes to achieving organisational objectives. The policy commits to maximizing asset value through balancing benefits, costs, and risks over the short and long term in a sustainable way. To meet this, Organisation A will ensure compliance with statutory requirements and other policies, consider stakeholder needs, align functions impacting assets, manage assets using recognized techniques, assess risks and economics, make purchase/replacement decisions based on demand and costs, operate and maintain assets disciplinarily, improve processes, and provide adequate resources.
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18 January 2022
Sample Asset Management Policy
Organisation A recognises the importance of effective Asset Management in contributing to the achievement of overall organisational objectives. Organisation A is committed to maximising the value derived from its physical assets and recognises that value is represented by the appropriate balance between the benefits, costs and risks associated with those assets, and that value needs to be sustainable over the short and long term.
To meet this commitment, Organisation A will:
• Ensure compliance with all statutory requirements applying to its physical assets and asset management
• Ensure that all Asset Management decisions and activities comply with other Organisation A policies including, as a minimum, those relating to Quality, Occupational, Health, Safety and Environment
• Ensure that Asset Management decisions and activities consider and balance the needs of all relevant stakeholders, both within and external to the organisation
• Ensure alignment and coordination between all organisational functions that impact on Asset Management, including Projects/Engineering, Production, Maintenance and Supply
• Ensure that Organisation A assets are managed in accordance with recognised asset management techniques that consider the achievement of both short term and longer term business objectives
• Formally assess both risk and economic outcomes when making decisions relating to the management of physical assets
• Ensure that asset purchase, replacement, refurbishment and disposal decisions are made based on an assessment of expected future customer demand, life cycle costs and risks
• Operate assets in a disciplined manner, and with precision
• Maintain assets in such a manner that they continue to meet operational requirements for the duration of their expected life
• Ensure that adequate resources are provided to permit the achievement of agreed Asset Management objectives
• Continually improve Asset Management processes and performance
________________________________ ________________________________ [Person A] Managing Director [Person B] General Manager
