The Asset Management System Model illustrates the key components of an Asset Management System and how they inter-relate. These components include functions, processes and accountabilities.
Within the context of the organisation’s stakeholders, the Asset Management System takes organisational objectives and converts them into objectives for asset management. It then manages the system to achieve these objectives and deliver the desired value to the business and its stakeholders.
The elements that make up a complete Asset Management System include:
- Asset management information
- Performance and reporting
- Decision making
- Risk management
- Competency and engagement
- Organisational roles
- Process management
Together, these elements make up the system that manages assets through the processes in the Capability Delivery Model, the subject of our next post.
For more information on the components of a successful Asset Management System, click here: https://www.amcouncil.com.au/resources/
