Elements and Performance Criteria
- Determine management control process
- Roles and responsibilities of business units or departments are clarified to ensure effective management of assets in line with organisation policy and procedures
- Specific reporting and monitoring standards required by enterprise requirements are understood and complied with
- Information systems that provide the information necessary for effective and efficient asset management for all levels within the organisation are maintained
- Regular audits are arranged, where appropriate to the organisation, to establish a continuous improvement cycle
- Implement existing practices, procedures and systems
- Assessments of current status of asset management activities within business units or departments are conducted regularly in accordance with asset management plan
- Milestones and targets are adhered to by the groups responsible
- Areas of difficulty are identified and strategies are followed to overcome these difficulties
- Review service levels
- Current levels of service provided by asset stock are critically examined
- Areas of possible improvement in the effectiveness and efficiencies of owning and operating assets are identified in consultation with relevant personnel
- Appropriate benchmarking is undertaken to enable continuous improvement in asset management strategies and practices