According toPAS 55 and ISO 55001, the hierarchy flows fromhigh-level principles and intent (policy)todetailed tactical execution (plans):

Policy– Organizational intent and principles

Strategy– Long-term approach for achieving objectives

Objectives– Specific performance and capability targets

Plans– Scheduled actions to meet objectives

Exact Extract from PAS 55-1:2008, Section 4.2.1:

“The asset management policy leads into the asset management strategy, from which objectives and corresponding plans are derived.”