Asset Management Plan

(AMP) Template
EXECUTIVE SUMMARY
An Asset Management Plan (AMP) for a single asset class should be an action-oriented document
and should therefore be short enough not to require an executive summary. AMPs covering multiple
asset classes may require an executive summary to highlight the rolled up actions and resources
required to deliver the asset management objectives.

ISO 55001:2014 Clause 6 (and particularly Clause 6.2.2) provides the overarching requirements for
AMPs in organisations attempting to comply with the standard. Other relevant clauses are
referenced throughout this template as appropriate.

Note: This template was developed by Assetivity PTY LTD, and should only serve as a guide for
establishing an AMP (or AMPs) aligned with ISO 55001 and suitable for your organisation. Each
organisation is unique with unique Risks and Opportunities and therefore the template will need
to be adapted to suit your own situation.

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Contents
EXECUTIVE SUMMARY ............................................................................................................................ 2
INTRODUCTION ....................................................................................................................................... 4
ASSET CLASS INFORMATION ................................................................................................................... 4
Description .......................................................................................................................................... 4
Role ..................................................................................................................................................... 4
Criticality ............................................................................................................................................. 4
Asset Quantity and Distribution.......................................................................................................... 4
Replacement Value ............................................................................................................................. 5
OWNER & STAKEHOLDERS ...................................................................................................................... 5
CURRENT AND DESIRED LEVELS OF SERVICE .......................................................................................... 5
LIFE LIMITING FACTORS .......................................................................................................................... 6
HEALTH, SAFETY & ENVIRONMENT ........................................................................................................ 7
LIFE CYCLE STRATEGIES ........................................................................................................................... 7
Acquisition .......................................................................................................................................... 7
Operation ............................................................................................................................................ 7
Maintenance ....................................................................................................................................... 7
Supply.................................................................................................................................................. 7
Disposal ............................................................................................................................................... 8
BUDGET ................................................................................................................................................... 8
RISKS........................................................................................................................................................ 8
IMPROVEMENT ACTIONS ........................................................................................................................ 9
CONCLUSION............................................................................................ Error! Bookmark not defined.
REFERENCES ............................................................................................................................................ 9

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INTRODUCTION
It may be useful to lead with a brief description of the role of the AMP and links to other
organisational planning documents. Note, however, that this text will be duplicated multiple times if
the organisation generates separate AMPs for different asset classes and maintaining consistency
between the AMPs will be difficult, resource consuming and of little real value. Consequently, we
would only recommend this approach for smaller organisations that are maintaining a single AMP.
Other organisations should document the role of the AMP in their Asset Management Framework,
Strategic Asset Management Plan (SAMP) or equivalent documentation.

If capturing multiple asset classes within a single document, each asset class will still require a
separate section. Each section should use the headings below to cover the relevant information for
each asset class. Rolled up action lists, budgets and so on can be provided in separate sections if
desired.

ASSET CLASS INFORMATION

This section describes the asset class covered by this AMP, including key information such as asset
boundaries, role and criticality. This asset class might consist of a single critical asset or a number of
similar assets grouped for management convenience.

Description
Provide a short description of the asset or asset class, including any relevant physical or functional
boundaries and dependencies on other asset classes. For example, a large electrical motor will
clearly interface with a power supply, but where do the management responsibilities for these
assets end?

Other relevant information will depend on the asset class, but could include utilisation, estimated
life for each asset and planned withdrawal date for the overall asset class. This information may be
distributed through the other parts of this section if appropriate. For example, utilisation might be
included with role information.

Role
Describe the role or roles the asset fills. Provide sufficient detail for the reader to understand why
this asset is important.

Criticality
If the asset has been assigned a criticality, it should be documented here. The following table
provides an example.

Criticality

Safety Production Cost Reputation Overall

1 2 1 2 1.5

Asset Quantity and Distribution

This section provides a summary of the quantity of assets in the class and distribution, including
physical distribution across the area of operations and age distribution across the estimated life. If
possible, this information should be presented graphically to aid rapid comprehension.

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Replacement Value
The replacement value provides an indicator of the financial significance of the asset class to the
overall organisation. Alternative measures might also be included, such as total cost of ownership.

OWNER & STAKEHOLDERS

This section provides a breakdown of roles and responsibilities related to the asset class. The
following table provides a simple example.

Role Responsible Party

Asset Owner GM Operations

Operational Control Operations Manager

Maintenance Control Maintenance Manager

CURRENT AND DESIRED LEVELS OF SERVICE

This section defines the performance required from the asset class, including known or likely future
changes in those requirements. These requirements are usually referred to as “levels of service”,
though ISO 55001:2014 does not use this term and simply refers to “asset management objectives”
at a range of levels. Regardless of the name used, the levels of service will address a range of
requirements that could include:1

 Safety
 Customer satisfaction
 Quality
 Quantity
 Capacity
 Reliability
 Responsiveness
 Environmental acceptability
 Cost
 Availability

Relevant levels of service will depend on the functions and risks associated with the asset class and
the organisational objectives and higher level asset management objectives. Once these have been
defined, appropriate performance measures must be selected and tracked to assess current and
likely future performance. These need not be directly linked – for example, completion of root cause
analysis investigations might be used as an indicator of future reliability performance. The alignment
between the measures, levels of service and objectives should, however, be documented. The
following table shows a possible mechanism.

Level of Service Objective Performance Measure Target Current

Links Performance Performance
Reliability X Mean Time Between Failure 1000hrs 1012.3hrs

1
ISO 55000:2014 Clause 3.3.6, p.15

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Further details on each performance measure (e.g. data sources, analysis methods and
responsibilities) might be captured outside of the AMP and referenced. Typically, key measures
would be included within the AMP and presented graphically, with historic performance tracked
against target. This allows the reader to quickly understand the current performance and
performance trends in the context of the required performance, including any future changes. It
must, however, be supported by analysis comments that allow the reader to appreciate the likely
causes and significance of any gaps and to understand current or planned actions to address these.

The following provide examples of possible performance measure graphs:

Storage Capacity Expansion vs Strategy Cost per tonne - Zone 2 [$/t]

30.0
120
25.0
100

20.0
Capacity Added (%)

80

60 15.0

40 10.0

20 5.0

0 0.0
2013

2015

2017

2019

2021

2023

2025

2027

2029

2031

2033

2010.0 2011.0 2012.0 2013.0 2014.0 2015.0 2016.0

Zone 1 Actual Zone 2 Actual Zone 3 Actual Zone 4 Actual Operations Routine Maintenance
Major Maintenance Target
Zone 1 Planned Zone 2 Planned Zone 3 Planned Zone 4 Planned
Budget Forecast

Note that definition of levels of service and associated performance measures is within the scope of
ISO 55001:2014 Clause 9.1.

LIFE LIMITING FACTORS

This section identifies the factors that drive renew/replace or other major investment decisions for
the asset class and tracks these factors against expectations. It is a recommended inclusion since
many organisations set an arbitrary expected life at acquisition of an asset class and do nothing to
monitor or adjust this figure despite evidence that the asset is aging either more quickly or more
slowly than expected. Further, many organisations do not identify the true factors – for example,
they claim a fatigue life limit that should really be an economic limit since the fatigue component
can be replaced. The following table provides a possible structure and examples.

Factor Limit Planned Life Status Against Plan

Annual maintenance
Economics costs > 15% new 25 Years On Track
purchase price

Annual cost per Current cost 80% of $X

Demand Indefinite
demand exceeds $X and rising.

Exceeding 1m
Fatigue 10,000,000 cycles 25 Years
cycles/year

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Again, this information should be supported by analysis comments identifying risks and current or
planned mitigating activities.

HEALTH, SAFETY & ENVIRONMENT

It is good practice to explicitly consider any health, safety and environment (HSE) issues that might
affect the management of the asset. In particular, any changes in regulations or statutory
requirements that might lead to modifications, early withdrawal or changes to operating practices
should be identified and factored into AMPs.

Note that this section would not generally include a comprehensive list of hazards associated with
the asset since these would be managed through the risk management or HSE management
systems. A reference to the relevant risk register might, however, be provided.

LIFE CYCLE STRATEGIES

This section describes the processes used to manage the asset class across its lifecycle, including
responsibilities, current issues and references to more detailed plans or procedures.

Acquisition
Provide a high level description of the process for acquiring new assets, the responsibilities and
reference to the detailed procedures. These may be contained in an appendix. Also list any current
issues or acquisition plans.

Organisations with an existing Capital Investment Plan, Forward Capital Works Plan or similar
document should reference this as the authority for asset acquisitions.

Operation
Provide a high level description of the process for operating the assets, the responsibilities and
reference to the detailed procedures. These may be contained in an appendix. Also list any current
issues and operational initiatives. Examples might include Operator Driven Reliability or Operational
Excellence programs.

Organisations with documented operational plans (e.g. a Life of Mine plan) should reference these.

Maintenance
Provide a high level description of the maintenance program for the asset class, the responsibilities
for delivery and reference to the detailed procedures. These may be contained in an appendix. Also
list any current issues and maintenance initiatives. Examples might include Reliability Centred
Maintenance reviews or maintenance quality improvements.

Organisations should explicitly point to the location of their authoritative maintenance plans – for
example, their Computerised Maintenance Management System (CMMS) or Technical Maintenance
Plan. These might be included as an appendix or (for very simple maintenance programs) as a table
within the AMP.

Supply
While not a specific life cycle phase, supply arrangements are often drivers of life cycle costs and
significant determinants of asset performance. Consequently, this section should be used to provide
a high level description of the supply support arrangements for the asset class, the responsibilities

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and reference to the detailed procedures. These may be contained in an appendix. Also list any
current issues and supply initiatives. Examples might include critical spares reviews or inventory
reduction programs.

Disposal
Provide a high level description of the disposal arrangements for the asset class (particularly triggers
for disposal as reflected in the life limiting factors), the responsibilities for disposal and reference to
the detailed procedures. These may be contained in an appendix. Also list any current issues and
disposal plans.

BUDGET
Use this section to provide a summary of the actual and required funding for the asset class,
highlighting any gaps. Comments should then follow to reflect the actions in place to manage the
gaps. It is critical that this information is linked to the actual budget (as opposed to a stand-alone
activity) and incorporates a long-term, rolling view. The following table provides a possible format,
though this should be adjusted to reflect the major funding divisions used in your organisation.

Budget Element Year 1 Year 2 Year 3 Year 4 Year 5 Years Years

(Current) 6-10 11-15
Operations Req’d
Actual
Operating Req’d
Maintenance Actual
Sustaining Capital Req’d
Actual
Expansion Capital Req’d
Actual

RISKS
The penultimate section of your asset management plan should be used to summarise the current
risks associated with the asset class, including the status of any mitigating actions. Note that the
risks should be clearly traceable to discussion in the relevant sections of the plan above. For
example, a risk associated with early failure may be traceable to issues with the content of the
maintenance program or a change to the usage of the asset class. The table below provides a
possible format for summarising the required information.

Risk L’hood Cons Rating Mitigation Status

Low availability due to Review spare parts

H L M On Track
inappropriate spares lists management process

Insufficient maintenance Prioritised maintenance

M M H Overdue
funding program

Early retirement due to Business case for

H H H Late
fatigue replacement

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IMPROVEMENT ACTIONS
The final section in an asset management plan should be used to capture the improvement actions
required for the asset class. These actions should be derived from the risks, which are, in turn,
derived from the other information in the plan. The following table shows a possible format for
capturing actions.

Project Goal Due Date Owner

Enable prioritisation for routine Maintenance

Plant Criticality Study Dec 20XX
maintenance tasks Manager

Implement LED lighting Project

Save 10% on electricity bill Jan 20XY
throughout plant Manager

REFERENCES
Document references used in the AMP.

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