What is the purpose of the asset management policy?
A.
To determine the asset management objectives including costs, risks and performance, aligned with the organisational objectives.
B.
To set a framework of principles for translating the organisation's strategic objectives into asset management objectives and guiding development of the asset management strategy.
C.
To describe the long-term approach to the management of physical assets and how organisational objectives are converted into asset management objectives.
D.
To address the approach of the asset management organisation to realise the (strategic) asset management plans.
E.
To balance the costs and benefits of different renewal maintenance overhaul and disposal interventions in support of the asset management objectives.
The asset management policy is a high-level document that provides direction and a framework for developing asset management strategies and objectives. It does not include specific activities, financials, or operational details.
Exact Extract from ISO 55001:2014, Clause 5.2 – Asset Management Policy:
“The policy provides a framework for the setting of asset management objectives and alignment with the strategic plan.”
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