2022 Schedule

Asset management planning can be a very daunting and overwhelming task. It is a long and complex process involving consultation with multiple stakeholders within and outside the organization as well as gathering of significant amount of critical data. This, by itself can be very challenging as data collection, storage and processing tend to be siloed-based, developed by a specific functional area for use only in that area. The effects of the isolated function-specific approach are widespread and have significant implications, creating gaps and misalignment in asset registers, business process information and most importantly impeding the decision-making processes. Addressing those gaps, achieving the alignments, and packaging the whole information in a structured manner are the essence of effective asset management planning. A key deliverable of the asset management planning process is an asset management plan. Although an asset management plan is a very important planning and communication tool for the organization, the planning process needs to take into consideration how the plan will eventually be implemented across the organization. In this presentation we will explore the asset management planning process with focus on the different sections of a typical asset management plan and its application to the organizational context. We will review the stakeholders’ engagement approach, the different coordinated activities involved, the integration with other plans and policies, the potential challenges that could be faced, and how they can be addressed. At the end we will compile and share the lessons learned along the way from an asset management practitioner’s perspective.