Planning - AMBoK

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Name:	Planning
Acronym:
Type:	Glossary Item

Definition:

The activities involved in developing the relevant Asset Management planning artifacts that support strategic planning activities such as the Strategic Asset Management Plan. Asset Management planning specifies the detailed activities and resources, responsibilities, time horizon, and risks for the achievement of Asset Management objectives.

Statement:

Asset Management Planning is the process used to develop detailed Asset Management Plans that specify the asset life cycle activities an organization intends to undertake to achieve its Asset Management objectives and stakeholder needs in consideration with the resources, costs, time horizon required for their delivery.

Asset Management Planning includes the following:

A review of previous Asset Management Plans and recovery plans where applicable.
A demonstrated alignment with the Strategic Asset Management Plan.
The asset life cycle activities the organization intends to undertake to deliver Asset Management objectives, stakeholder needs and level of service, in consideration of a range of intervention options for new, existing, and non-asset solutions.
Evidence of social, economic, cultural, environmental, and economic evaluation to substantiate the asset life cycle activities.
A consideration of the planning horizons across the immediate, short, medium, and the long term.
The costs associated with delivering asset life cycle activities.
The outputs, outcomes, and benefits (measured value) expected from the application of asset life cycle activities.
Identification of relevant delivery models and resources (e.g., financial, asset and human) necessary to execute the Asset Management plans based on legal, regulatory, industry and technical standards.
A scenario analysis to balance cost, risks and performance against any forward planning delivery, funding, and resourcing assumptions.
Asset Management assurance requirements (e.g., technical assurance and investment gateway reviews).
Details on how the plan will be approved monitored, reviewed, and updated including appropriate review period (periodic and systematic).
An integration of Asset Management Plans with other organizational plans e.g. financial plans, health and safety plans and human resource plans.
Details of maintenance and execution of plans in enterprise systems e.g., financial systems, resource management systems and Asset Management systems.