Set up your SAMP

When, in my more than 30 years of practice, I asked asset managers whether they had a strategy for their asset management, the answer was always: “Yes, of course we have a strategy.” But when I asked whether they could provide me with a copy of that strategy, the answer in 98 percent of cases was: “Oh, no. It’s not documented in writing.” Well, that answer tells me a lot, doesn’t it?

A Strategic Asset Management Plan (SAMP) is a critical document that aligns an asset management organization with it's strategic objectives. The SAMP framework typically is a long-term view of the organizational asset management strategy and performance evaluation processes including of an implementation plan.

Crafting a SAMP may seem daunting, but with a structured approach, it becomes manageable and highly beneficial. Typically it is a mixture of your organizational Asset Management manual and the execution elements.

With Vysr we have developed a platform, which guides you through the entire process including the performance mining and improvement process. Vysr makes the SAMP development as simple as possible and keeps it always maintained and alive.

Your SAMP should captures the following topics:

1. The organizational context: it includes the SAMP Scope, Asset Portfolio, Asset Organization, Mission & Vision, Roles & Responsibilities, Stakeholder Identification and your Asset Policies.
2. Your strategic objectives: with the Strategic Key Objectives, Goals & Target setting and your major performance KPIs.
3. The overarching Asset Management Strategy: with Key principles and approaches, it outline the strategies, detaila the risk management strategy and the Engagement Strategy.
4. Your Risk Management: with Risk Identification, Risk Assessment and Mitigation Strategies.
5. Your Financial Management: with Capital Investment Plans, Cost Budgeting and your Cost-Benefit Analysis.
6. Your Operational Execution Plan: with Training & Skill Plans, a Communication and Action Plan.
7. Your Performance Evaluation and Improvement Process: with Monitoring & Reporting, Performance Reviews, Feedback Mechanisms and a Continuous Improvement Plan.
8. Defines your Sustainability and Resilience Plan: with a Sustainable Practices and a Resilience Planning.
9. Your Technology and Systems approach

If you like to learn more about an SAMP read the book "Developing and Maintaining a Strategic Asset Management Plan" from the International Institute of Asset Management (www.theIAM.org).

You are interested? Go to Vysr and start developing your SAMP.