Strategic Asset Management

Plan
(SAMP) template
Assetivity - 18 January 2022

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Document Reference ABC-001

Prepared by Firstname Surname

Document Custodian Firstname Surname

Revision 1

Issue Date 18 January 2022

Next Revision Due Click or tap to enter a date.

Approved by Firstname Surname

This template has been produced by Assetivity to assist individuals and organisations to develop a Strategic Asset Management
Plan that is practical and useful, and therefore more likely to be used by an organisation to improve Asset Management
performance.

The contents are based on our recommendations that are contained in three articles on our website:

• Asset management strategy vs. Strategic Asset Management Plan (SAMP) – a practical approach

• What makes a good Strategic Asset Management Plan (SAMP)?

• What does a good asset management strategy look like?

It is our view that a SAMP completed in accordance with the guidance in this template, has been prepared in conjunction with
an Asset Management Strategy developed using our separate template for this document, meets the requirements of ISO
55001:2014 relating to the Strategic Asset Management Plan.

Should you have any questions regarding the use of this template, please contact us via our website.

I hope you find this template useful.

Regards,

Sandy Dunn
Managing Director
Assetivity

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Contents
1. Executive summary__________________________________________________________________________________4

2. Document purpose and scope__________________________________________________________________________5

3. Organisational context_______________________________________________________________________________6

4. Current, forecast and desired performance______________________________________________________________7

5. Assumptions, risks and opportunities___________________________________________________________________8

6. Strategic asset management initiatives__________________________________________________________________9

7. Resource summary_________________________________________________________________________________10

8. References_________________________________________________________________________________________11

9. Appendices________________________________________________________________________________________12

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1. Executive summary
This section provides an overview of the Strategic Asset Management Plan (SAMP) including:

• Overall statement of Strategic Initiatives

• Risks or Opportunities relating to objectives that may need to be specifically highlighted,

• Consideration of or dependence on critical resources

The purpose of the section is to ensure that senior executives and stakeholders can quickly understand the key elements of the
organisation’s Strategic Asset Management plan and why these are appropriate. To this end, diagrams and tables are often
useful.

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2. Document purpose and
scope
This section should contain a brief description of the role of the SAMP in the context of your organisation’s Asset
Management System/Framework. It should also describe who the intended users of this document are, and how it is intended
that the document would be used. It should also state the time period covered by the plan (including whether this is a 5-year
plan, 10-year plan or something else).

An image or graphic outlining links to other related documents in your organisation’s Management framework (such as the
Organisational Strategic Plan, Strategic Plans for other Business Functions (e.g. IT, HR etc.) Asset Management Policy, Asset
Management Strategy, Asset Management Plans etc.) could also be useful here. These details are likely to be included in your
Asset Management Strategy (see our separate Asset Management Strategy template for more details). In the absence of a
tailored image for your organisation, the IAM’s Asset Conceptual Model (contained in their Asset Management Landscape)
may be a good starting point. The model contained in ISO 55000:2014 may also be used as an alternative starting point.

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3. Organisational context
The intent of this section is to provide sufficient (but no more) “bigger picture” context to allow the intended audience to
understand some of the factors that have contributed to the selection of the Strategic Asset Management Initiatives which will
be outlined later in the SAMP.

The key is to keep it as brief as possible. This section must be written with the end user in mind. Try to avoid including
information that they will almost certainly already know. Also avoid including context that is not relevant to the Strategic
Initiatives being proposed.

The starting point for content in this section is the analysis of the current state of the organisation as required by ISO
55001:2014 Clauses 4.1 and 4.2.

The reader should be able to understand the organisation’s strategic priorities and objectives – e.g. cost saving, capacity
growth, safety compliance etc. so that they can understand how the proposed Strategic Initiatives contained within this SAMP
align with these priorities.

Accordingly, this section could include brief discussion of some or all of the following:

• Organisational Context and Organisational Objectives

• Relevant Stakeholder needs (regulators, customers, staff, owners…)

• Asset portfolio (general description and condition)

• Asset Management system (general description and condition, including process maturity and workforce competence)

• Relevant considerations from the Asset Management Strategy

Additional detail could be provided as an Appendix if required.

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4. Current, forecast and
desired performance
This section should clearly state the Asset Management Objectives (“results to be achieved”) and how these relate to the
achievement of Organisational Objectives. These objectives specify the desired levels of performance that are required from
the organisation’s assets and Asset Management System if the organisation is to achieve its overall objectives. Asset
Management Objectives should be clearly stated, by time period (e.g. year) for the entire time period covered by the SAMP.

These desired levels of performance (Objectives) should then be compared with the performance that is expected to be
achieved based on an assumption of “business as usual”.

If this can be done graphically, as illustrated below, this is ideal.

Accordingly, this section should include:

• Asset Management objectives, mapped to the organisational objectives

• Forecast levels of performance, assuming business as usual

• Identified current and future performance gaps

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5. Assumptions, risks and
opportunities
ISO 55001:2014 Clause 6.1 requires the organisation to assess Asset Management risks and opportunities. This section should
include the most significant risks and opportunities associated with the SAMP (remembering that Risk is defined as “the
impact of uncertainty on objectives”).

All forecasts will be based on certain assumptions. And all assumptions have risks associated with them. So this section should
include the details of any significant (high risk) assumptions that have been made in developing the SAMP and the nature and
level of risk associated with them. Actions proposed to avoid or mitigate the level of risk associated with the assumptions
should be included later in the SAMP, and if significant enough, may also have their own Strategic Asset Management
initiatives associated with them.

In addition, this section should list any other relevant risks relating to the organisation’s Assets and Asset Management
System.

For each risk, the nature and level of risk should be outlined. Where more detail is required, reference could be made to
external risk assessments or risk management documents relating to the risk. External reference should also be made to the
organisational risk register (if this exists) to indicate that the risk has been incorporated in the organisation’s Risk Management
process.

The table below provides a possible format for summarising the required information.

Risk/Opportunity L’hood Cons Rating

A H L M

B M M H

C H H H

In certain organisational situations, the levels of uncertainty and associated levels of risk associated with the assumptions made
may warrant the development of alternative scenarios for planning purposes. If this is the case, then each of those scenarios
should have their own forecasts of performance vs objectives (in the preceding section) developed for them, but ultimately, the
organisation will need to decide which scenario it considers to be most likely, and which will therefore form the basis for the
plan for future action (although contingency plans could also be developed for application if the expected scenario does not
eventuate).

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6. Strategic asset management
initiatives
This section is the core of the document. This is where the improvement initiatives required to bridge the gaps between desired
levels of performance (“Objectives”) and forecast levels of performance that were contained in Section 5 are outlined. It is
also where initiatives required to address any significant risks and opportunities listed in Section 6 should be outlined.

The intent in this section is not to include every improvement initiative that is planned for Assets and/or the Asset Management
system. It is expected that these will, however, be included in the Asset Management plans that sit below this Strategic Asset
Management Plan. This document, the Strategic Asset Management Plan is intended to be a high level, long-term focused
document, and so it should focus on the improvement initiatives that:

• Require coordinated activity across multiple Asset Management Plans and/or

• Are longer-term and higher-level in nature and/or

• Require coordination with improvement activities that may be included in Strategic Plans for other business functions
(e.g. Human Resources and/or IT Strategic Plans)

We call these “Strategic Initiatives” and the activities to be performed within each initiative should be described.

Once again, carefully consider the level of detail required here. As this is a high-level document, most likely aimed at Senior
Executives, it is unlikely that detailed project plans etc would be included here. If desired, links or references to those more
detailed planning documents may be included, however.

Each Strategic Asset Management Initiative should be mapped against the Asset Management Objectives (indicating the nature
and impact of the initiative on these) and the priority, responsibility, timelines, resources, measures of success and targets for
these should be included in this section.

Asset Management Initiative / Objectives

Priority Responsible Timeframe Measure
Action Linked

This section should also highlight any dependencies (and the nature of those dependencies) that exist between initiatives as
well as dependencies on other initiatives that are included in Strategic Plans for other business functions. How activities are
going to be coordinated across initiatives and across business functions to ensure that the plan is achieved should also be
outlined in this section.

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7. Resource summary
This section should include a summary of the financial and other resources needed to undertake the strategic initiatives and
achieve the required objectives. This should include:

• Operating Expenditure Forecast

• Capital Expenditure Forecast

• Manning Requirements

Where the forecasts in the SAMP vary from those currently included in budgets, the relevant variations should be highlighted.

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8. References
Any supporting detail required that is too lengthy to include in the body of the Strategic Asset Management Plan should either
be referenced from this document or included as an Appendix. Be wary of including detail that exists in other documents.
Ideally, try to ensure that there is a “single source of truth” by including links to other documents rather than repeating existing
information.

In this section, list any references used in the Strategic Asset Management Plan.

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9. Appendices
Any supporting detail required that is too lengthy to include in the body of the SAMP should either be referenced from the
SAMP or included as an Appendix. Be wary of including detail that exists in other documents. Ideally, try to ensure that there
is a “single source of truth” by including links to other documents rather than repeating existing information in Appendices to
the SAMP.

Attach more detailed documents as Appendices if required.

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