Strategic Asset Management

Strategic Asset Management is the application of Asset Management across the entire utility organization/business. This is a holistic approach to Asset Management. Strategic Asset Management starts with the utility corporate strategy and mission and continues in a unified and coordinated approach across all technical and non-technical areas of the utility. Strategic Asset Management aims to produce such value as improved utility asset performance, reduction of risk, reduction in costs, and creation of new opportunities

The main objective of the Strategic Asset Management Program (SAMP) is to bring the industry professionals together to identify, discuss and develop solutions to common issues in Strategic Asset Management by creating a networking opportunity for utilities concerned with asset management application, optimization and innovation.  It also serves as a forum to identify knowledge gaps and to provide guidance on future collaborative projects.

Objectives:

1. Identifying value of Strategic Asset Management to utilities over standard asset management approaches,

2. Demonstrating Strategic Asset Management starts from the Utility Corporate Strategy and Mission

3. Developing Strategic Asset Management alignment across utility policies, processes and procedures

4. Encompassing other business functions, important to fully and properly apply Strategic Asset Management, such as Human Resources, information management, finance, material management and customer and stakeholder management, and

5. Covering utility business objectives, practices, risk management that drive asset investments and maintenance.