Case Study Library - Subject - Leadership & Governance
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Asset Management leadership is required to promote a whole Life Asset Management approach to delivering Organizational Strategic Plans and Asset Management objectives.
The Asset Management Policy formalizes the organization’s commitment to Asset Management, aligns its Asset Management principles with the organization’s strategic vision, mission, strategic goals, and objectives.
Further it provides a directional framework for all stakeholders in the development and implementation of the Asset Management strategic plan and the establishment of Asset Management objectives.
A set of interrelated or interacting elements within an organization to establish, update, and sustain Asset Management, Asset Management policies, Asset Management objectives and processes to achieve those objectives. The processes and measures used by an organization to assess the on-going fitness and performance of its Asset Management System, including continuous improvement initiatives. The Asset Management System should recognize and integrate with other formal management systems.
An organization’s structured processes for assuring and auditing the effectiveness of its assets, Asset Management and Asset Management system to ensure organizational and Asset Management objectives are being achieved and its assets fulfil their required purpose.
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The process used by an organization to ensure all its activities, including Asset Management activities, are compliant with relevant technical standards, regulations, and legislation.