In partnership with the IAM
1 Day duration interactive workshop (virtual classroom delivery)
Creating a meaningful Asset Management Strategy (also known as a Strategic Asset Management Plan or SAMP) is both a vital task and a challenge to establish clear direction, priorities, coordinated initiatives and consensus. Where do you start? How detailed do you need to be? What ‘strategic’ horizons are suitable? Who should be involved? How do you make it realistic and implementable?
The course provides practical insight into the development of effective strategies for Asset Management, including alignment with organizational objectives and engagement of the workforce, goal-setting, prioritization, risk management, performance monitoring and cross-disciplinary collaboration. Taught by highly experienced asset management experts, this course includes plenty of real-world examples and interactive exercises.
The course introduces the concepts, role and benefits of a SAMP. It shows how such a Strategy achieves the essential alignment between (top down) organizational objectives and stakeholder requirements, with the (bottom up) realities of assets and asset management capabilities. Every SAMP is unique, due to the individual nature of each organization’s asset portfolio, operating context and expectations of its stakeholders. This course explains how to develop and customize a SAMP to be organization-specific. It also shows how this process can be used effectively to engage all disciplines and achieve consensus about goals, priorities and responsibilities for delivery.
Strategic thinking in Asset Management
Policy, Strategy and Plans: what goes where?
Role of a SAMP within a Management System
Typical contents of a SAMP
The SAMP development process
Using and maintaining your SAMP
Communication, consensus and commitment
Course summary and assessment
Classroom-based or virtual/online delivery. In addition to the training materials, each participant will receive a free copy of the IAM guidebook “Developing and Maintaining a Strategic Asset Management Plan (SAMP)”.
This course is for anyone responsible for any aspect of strategic planning, or anyone who wishes to understand the role of a Strategic Asset Management Plan, how best to develop, maintain and use one. Typical participant roles include:
• Senior executives
• Business planners
• Stakeholder interface professionals (e.g. customer-, regulator-, investor-relations)
• Investment programme managers
• Implementers of ISO 55000 and other management systems
• Project or portfolio managers
• Asset information managers
• Engineering, technical and other departmental managers
• Maintenance managers
• Operations managers
• Procurement and supply chain managers
• HR and training managers
At the end of this course the participant will be able to:
1. Understand and describe the role and purpose of a SAMP.
2. Explain the alignment of strategic asset management plans and objectives to organizational objectives and stakeholder expectations.
3. Plan how to develop an effective and context-suitable SAMP.
4. Identify the requirements for information and its sources.
5. Identify the cross-disciplinary contributors to developing a SAMP
6. Plan how to maintain and update a SAMP so that it is always relevant and useful.
Prior knowledge requirements and suggested reading
This course is suitable for those who already have a basic understanding of Asset Management principles and practices. For example, successful completion of the 1-day IAM Foundation course or the Woodhouse Asset Management Academy ‘Principles of Asset Management’ eLearning modules (www.assetmanagement.online).
Recommended prior reading includes “Asset Management: an Anatomy” available from www.theIAM.org