AM Framework: MAG #2 - Asset Management Objectives - Overview, Purpose, Outcomes

This article offers a comprehensive and insightful overview of the significance of Asset Management Objectives within the broader context of Asset Management Frameworks. It's clear that Asset Management Objectives play a pivotal role in aligning an organization's goals with its asset management practices, ultimately contributing to better outcomes. One notable aspect highlighted in this piece is the emphasis on documenting Asset Management Objectives using the SMART technique. This meticulous approach ensures that these objectives are not only well-defined but also measurable and time-bound, making them actionable and effective in guiding decision-making processes. Moreover, the article underscores the multifaceted utility of Asset Management Objectives, showcasing how they are integral to various facets of performance management. From defining asset performance requirements to evaluating AMS performance and managing risk related to objective achievement, these objectives serve as a versatile toolset for organizations. The article also delves into the implementation process, highlighting the strategic and iterative nature of establishing Asset Management Objectives.

Regular third party independent audits are critical to continuous improvement and overall outcomes. Examples: https://4bt.us/job-order-contract-audits/

Jack Dempsey Thanks for these newsletters highlighting this Asset Management Framework. I find this framework to be very useful.