The first part can be achieved relatively quickly, and is necessary before the decentralization of decision-making around maintenance and replacement can really occur, but the second requires ongoing work in local teams, together with better guidance from the center.
A fully developed Asset Management approach usually requires a number of iterations of the AMP, and needs to be reviewed more frequently for more complex systems, especially asset systems where the average annual cost required to provide the agreed standard of service is high.
An AMP typically covers the following areas: Description of the problem that the asset system aims to reduce.
Define the Standard of Service (SoS) for the various parts of the asset system or group (a simple performance specification).
An earth embankment that is only protecting agricultural land, where the consequences of failure are significantly less will likely have a lower minimum CG (4 or 5).
Conversely an asset that is liable to a fast failure mode with little warning will likely require a higher minimum condition.
Therefore, it is important to understand what function the assets were designed to perform, and what minimum condition is considered acceptable.
This is important to understand what actions are planned to bring or keep the assets above their minimum condition, and able to perform their intended function.
A forward looking cost-profile for operating, maintaining, refurbishing and replacing to sustain the Standard of Service.
Beyond that, estimates of costs so as to enable planning for any large expenditure items expected in the medium-term and to allow sufficient time to do a more in depth appraisal for an asset system that may require a change to the Standard of Service.
This is important to understand what the planned actions are going to cost, as well as the ongoing "management" and overheads directly related to this particular asset system.
[4] These requirements include: Section 104(6) of the Queensland Local Government Bill 2008[5] defines a "long-term asset management plan" as a document that - It states that a local government must annually conduct, and report on the results of, a review of the implementation of the plan.
In Canada, since 2015 the government of Ontario has mandated municipalities to develop asset management plans for their infrastructure.