At the highest level in the organisation, the Asset Management Concept Model describes the four principles of strategic asset management. These principles integrate asset management into management of the business and set the context in which executive leaders define the organisation’s objectives for assets.
The organisational context and objectives flow down to the Asset Management System, where asset managers convert these goals into asset management objectives and manage the system to achieve them. The Asset Management System Model defines this system’s functions, processes and accountabilities and how they interrelate.
Objectives and decisions flow from the system into each organisational asset’s capability delivery life cycle. The Capability Delivery Model depicts a typical set of asset management processes for each asset and how they connect across the asset’s life. Asset managers guide the flow of processes in the Capability Delivery Model to deliver the desired value to the organisation.
As asset managers implement these processes, they feed each asset’s performance measures, risks, issues and investment needs into the Asset Management System.
Collated asset performance measures, risks, issues, investment needs and lessons learned — for the asset portfolio and the Asset Management System — flow upward from the system to the executives implementing the Concept Model.
The AM Council models show you how asset management is achieved at all levels in an organisation. They help you implement effective management of your assets to deliver value to your stakeholders.
For more information on the Council’s models and the connections between them, click here: https://www.amcouncil.com.au/resources/
