AM Framework - Context

This article offers a fascinating insight into the world of Asset Management (AM) Framework. It's evident that this framework has been meticulously developed, drawing from a wealth of experience. The importance of establishing a governance structure for resource and investment decisions across an organization's assets, as outlined in this article, cannot be overstated. Such a strategic and cohesive approach is fundamental in achieving an organization's objectives and fulfilling its purpose. The adaptation of this AM framework to align with ISO 55000 and ISO 55001 standards speaks volumes about its robustness and utility. This alignment provides a solid foundation for effective communication, risk management, performance control, and continuous improvement, all of which are essential components of modern asset management. Organizing the framework into Management Activity Groups (MAGs) is a clever strategy to coordinate management activities and deliver value through assets. Moreover, the inclusion of closed-loop logic is crucial for establishing a strong governance system and fostering a culture of learning and continuous improvement.

Great stuff as usual! Capabilities assessment is the most critical component, and a major barrier for most organizations. Most public sector organizations lack a holistic view or understanding of integrated planning, procurement, and project delivery and how to successfully apply collaborative principles to construction processes and activities. Until there is significant improvement in professional and formal education the barriers to the successful implementation of efficient repair, renovation, maintenance, and new construction will not be overcome. Best value repair, renovation, maintenance, and new construction frameworks include the following fundamentals.? #1 Real property owner leadership via direct involvement, capacity, commitment, and accountability.? #2 Robust, integrated planning, procurement, and project delivery framework, processes, and workflows, with and associated multi-party contract and operations manual/execution guide. #3 Common data environment inclusive of shared, local market, objective granular construction task data. #4 Mandatory initial and ongoing training for all participants. #5 Quantitative metrics and regular third-party independent audits. ? 4bt.us