The Asset Management Landscape: Second Ed T On

The Asset
Management
Landscape
Second Ed t on
Engl sh Vers on
ISBN 978-0-9871799-2-0
Publ shed March 2014
www.gfmam.org
The Asset Management Landscape Second Ed t on
Engl sh Vers on
The Global Forum on Ma ntenance and Asset Management
The Global Forum on Ma ntenance and Asset Management (GFMAM) has been establ shed w th
the a m of shar ng collaborat vely advancements, knowledge and standards n ma ntenance and
asset management.
The members of GFMAM (at the t me of ssue of th s document) are:
· Asset Management Counc l (AMCounc l), Austral a;
· Assoc ação Bras le ra de Manutenção e Gestão de At vos (ABRAMAN), Braz l;
· European Federat on of Nat onal Ma ntenance Soc et es (EFNMS), Europe;
· French Inst tut of Asset Management and Infrastructures (IFRAMI), France;
· Gulf Soc ety of Ma ntenance Profess onals (GSMP), Arab an Gulf Reg on;
· Iberoamer can Federat on on Ma ntenance (FIM), South Amer ca;
· Inst tute of Asset Management (IAM), UK
· Plant Eng neer ng and Ma ntenance Assoc at on of Canada (PEMAC), Canada
· The Soc ety for Ma ntenance and Rel ab l ty Profess onals (SMRP), USA.
· The Southern Afr can Asset Management Assoc at on (SAAMA), South Afr ca
The endur ng object ves of the GFMAM are:

1) To br ng together, promote and strengthen the ma ntenance and asset management
commun ty worldw de
2) To support the establ shment and development of assoc at ons or nst tut ons whose a ms
are ma ntenance and asset management focused
3) To fac l tate the exchange and al gnment of ma ntenance and asset management
knowledge and pract ces
4) To ra se the cred b l ty of member organ zat ons by ra s ng the prof le of the Global Forum
Th s document descr bes the Asset Management Landscape Second Ed t on, Engl sh Vers on
that supports the th rd of these endur ng object ves.
ISBN 978-0-9871799-2-0 www.gfmam.org Page 2 of 57

Engl sh Vers on
Table of Contents
1 Background................................................................................................................................ 4
2 Purpose of the Landscape, Second Ed t on ............................................................................... 5
3 Overv ew of the Landscape ....................................................................................................... 6
3.1 The Core ............................................................................................................................. 7
3.2 The Knowledge and Pract ces Area ................................................................................... 8
3.3 The Support ng Area .......................................................................................................... 8
4 Components of the Knowledge and Pract ces Area .................................................................. 9
4.1 Conceptual Models ............................................................................................................. 9
4.2 Competence Frameworks .................................................................................................. 9
4.3 Asset Management Tra n ng Courses .............................................................................. 10
4.4 Asset Management Qual f cat ons .................................................................................... 10
4.5 Knowledge ........................................................................................................................ 10
4.6 Assessment Methods and Awards ................................................................................... 10
5 Asset Management Fundamentals .......................................................................................... 11
6 GFMAM Asset Management Landscape Subjects, Second Ed t on ........................................ 12
7 Append x A: Asset Management Concept Models ................................................................. 52
8 Append x B: Landscape Rev ew ............................................................................................. 55
8.1 Rev ew Process ................................................................................................................ 55
8.2 Cr ter a .............................................................................................................................. 55
8.3 Subject Descr ptors .......................................................................................................... 55
9 Append x C: GFMAM Asset Management Landscape Subjects F rst and Second Ed t on ..... 56

Engl sh Vers on
1 Background
There have been major global advances n Asset Management standards, models and pr nc ples
over the last two decades. The Global Forum on Ma ntenance and Asset Management determ ned
that there s benef t n al gn ng these var ous advances and collaborat ng to develop a collect ve
v ew, n part cular for organ zat ons that operate asset management systems n many countr es.
The f rst ed t on of the GFMAM Asset Management Landscape (Landscape) was publ shed by
the GFMAM n November 20111 to ach eve th s amb t on. At the t me of publ cat on of the f rst
ed t on, t was agreed that the Landscape would be rev ewed n 2014 aga nst the publ cat on of ISO
5500x, and would ncorporate developments n our understand ng of asset management.
Feedback on the f rst ed t on of the Landscape also showed that t was be ng used far more w dely
than n t ally env saged. As well, the subject descr pt ons were cons dered to be at too h gh a level
for develop ng the requ rements for the GFMAM projects such as ISO 55001 Aud tor/Assessor
competenc es.
A deta led rev ew was carr ed out by GFMAM members dur ng 2013, and br ef deta ls of the rev ew
cr ter a and process are g ven Append x B: Landscape Rev ew.
Th s document conta ns the GFMAM Asset Management Landscape, Second Ed t on, Engl sh
Vers on nclud ng the subjects and fundamentals that dep ct the d sc pl ne of asset management.
Each GFMAM member ncorporates th s Landscape as part of the r asset management framework.
An asset management framework shows how and where a member’s ‘knowledge and pract ces’ f t
w th n the Asset Management Landscape.
1
ISBN 978-0-9871799-1-3
Engl sh Vers on
2 Purpose of the Landscape, Second Ed t on

The Asset Management Landscape s a GFMAM n t at ve focused on the th rd of GFMAM’s
endur ng object ves ‘to fac l tate the exchange and al gnment of ma ntenance and asset
management knowledge and pract ces’.
The var ous purposes for the GFMAM Asset Management Landscape, Second Ed t on are:
· To prov de an overv ew of the d sc pl ne of asset management;
· To prov de the structure for bu ld ng a body of knowledge for cert f cat on schemes and
qual f cat ons n asset management;
· To prov de a means of compar ng and contrast ng d fferent cert f cat on schemes and
qual f cat ons;
· To prov de the structure (and potent ally the cr ter a) for assess ng an organ zat on’s
matur ty n asset management;
· To nform the asset management knowledge requ rements for ISO 55000 assessors; and
· To compare the products and serv ces from the d fferent GFMAM members through cross
referenc ng to the 39 Subjects.

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3 Overv ew of the Landscape

The Asset Management Landscape s a framework to enable asset management knowledge and
pract ces to be compared, contrasted and al gned around a common understand ng of the
d sc pl ne of asset management. The Asset Management Landscape s represented n d agram 1
below:
D agram 1: Asset Management Landscape
Th s shows that the Asset Management Landscape s made up of three key areas:
1) The core of the Asset Management Landscape wh ch w ll be common across all
GFMAM members;
2) The knowledge and pract ces area of the Asset Management Landscape wh ch w ll
conta n the knowledge and pract ces of each member soc ety w th n the r own asset
management frameworks.
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3) The support ng area wh ch conta ns reference to standards and other knowledge and
pract ces that are cons dered to be outs de the scope of asset management but wh ch
may nfluence the asset management pract ces of organ zat ons around the world.
3.1 The Core
The Core of the Landscape compr ses the asset management fundamentals and the asset
management subjects.
The asset management fundamentals are part of the core to ensure GFMAM member
organ zat ons have a common understand ng of Asset Management; even though they use
d fferent models and techn ques to descr be th s to su t the r var ous member commun t es. These
fundamentals are taken from the nternat onal standard on asset management, and are outl ned n
Sect on 5
The asset management subjects are part of the core to enable GFMAM members to be able to
compare, contrast and al gn the r knowledge and pract ces. These subjects are also ntended to
prov de a common understand ng of the scope of asset management. The l st of subjects has
been der ved from an nternat onal rev ew of an extens ve l st of asset management models and
assessment methodolog es. Th s rev ew dent f ed 39 asset management subjects that together
descr be the scope of asset management. The l st of subjects s shown n Sect on 6, GFMAM
Asset Management Landscape Subjects, Second Ed t on. Mapp ng of these subjects to the f rst
ed t on (GFMAM Landscape (ISBN 978-0-9871799-1-3, ssued November 2011) s shown n
Append x C: GFMAM Asset Management Landscape Subjects F rst and Second Ed t on.
It s essent al to note that th s s an arb trary d v s on of the d sc pl ne nto nd v dual

subjects for the purpose of understand ng the breadth and components of asset
management more clearly. They cannot be treated as self-stand ng and ndependent and t
s not poss ble to understand asset management properly w thout address ng them all as a
hol st c ntegrated body of knowledge.

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3.2 The Knowledge and Pract ces Area
The knowledge and pract ces area of the Asset Management Landscape represents the
knowledge and pract ces that GFMAM member organ zat ons have developed or may w sh to
develop. It s ntended that each GFMAM member organ zat on w ll develop the r own asset
management framework that s al gned w th the core of the Asset Management Landscape but s
also al gned to the knowledge and pract ce of each member organ zat on. The components that
make up of these frameworks w ll be d fferent across the d fferent member organ zat ons but are
l kely to nclude the tems shown n the knowledge and pract ces area of d agram 1. A br ef
descr pt on of these gener c components s prov ded n Sect on 4 of th s document.
These asset management frameworks w ll allow member organ zat ons to map the r knowledge
and pract ces to the asset management fundamentals and subjects and enable these to be
compared, contrasted and al gned w th the knowledge and pract ces of other member
organ zat ons. It also allows member organ zat ons to do a gap analys s of what they offer to the r
members.
The development of these asset management frameworks should prov de the follow ng benef ts to
the members of the GFMAM member soc et es:
• Greater access to gu dance and best pract ce mater al on asset management;
• Common def n t ons relat ng to asset management and how ma ntenance contr butes to
asset management;
• Help to br ng ma ntenance and asset management to the boardroom;
• Greater cons stency nternat onally on gu dance on asset management;
• Greater cho ce of nternat onally recogn sed qual f cat ons through the nternat onal Accord;
• Increased ava lab l ty of nternat onal case stud es and other knowledge.
3.3 The Support ng Area
The support ng area of the Asset Management Landscape conta ns standards, knowledge and
pract ces that are not cons dered to be w th n the scope of asset management but that may
nfluence asset management dec s ons. Only a few examples are shown on d agram 1 and th s
should not cons dered to be a comprehens ve l st.

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4 Components of the Knowledge and Pract ces Area

The follow ng sect ons prov de an overv ew of the d fferent components of the knowledge and
pract ces area of the Asset Management Landscape.
4.1 Conceptual Models
A conceptual model descr bes, at the h ghest level: the key aspects of asset management, how
these nteract w th each other and how they l nk to the overall corporate object ves and bus ness
plan.
Everyone’s journey n the understand ng and appl cat on of asset management s d fferent,
reflect ng d ffer ng start ng po nts, cultures, languages and object ves. Thus, d ffer ng conceptual
models may be helpful to present asset management n way that reflects more closely the
background and current pos t on of any member organ zat on, wh lst st ll reta n ng a common
approach and content.
However, there are a number of common character st cs that a conceptual model should nclude,
wh ch are:
• They should cover the whole scope of asset management as def ned by the 39 subjects of
the Landscape;
• They should be cons stent w th GFMAM asset management fundamentals;
• They should cons der the whole asset l fecycle;
• They should re nforce al gnment (‘l ne of s ght’) to organ zat onal goals and object ves;
• They should reflect how the bus ness env ronment and stakeholders w ll nfluence the asset
management approach;
• They should re nforce the mportance of ntegrat on of act v t es to del ver an overall output;
• They should emphas se the need for measur ng performance and cont nuous mprovement.
Three example conceptual models from GFMAM member organ zat ons are n shown n Append x
A that all share these character st cs.
4.2 Competence Frameworks
A competence framework conta ns the competence requ rements that are needed for people
work ng at d fferent levels w th n an asset management organ zat on. Competence requ rements
are typ cally descr bed n a h erarchy, for example Roles, Un ts and Elements of competence.
Competence frameworks somet mes def ne the level of competence requ red for d fferent asset
management roles or otherw se w ll def ne the process by wh ch these should be def ned w th n an
organ zat on look ng to adopt the competence framework.
Competence frameworks are typ cally l nked to an asset management body of knowledge and
should be l nked w th the 39 subjects w th n the Asset Management Landscape core to
demonstrate coverage of scope.

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4.3 Asset Management Tra n ng Courses
Asset management tra n ng courses can be descr bed w th n an asset management framework by
l nk ng th s tra n ng to the 39 subjects to demonstrate coverage of scope of each course. The
tra n ng courses can also be l nked to the un ts and elements of competence def ned w th n the
competence frameworks.
4.4 Asset Management Qual f cat ons
Asset management qual f cat ons w ll typ cally form part of an asset management framework
whether these qual f cat ons are offered by the GFMAM member organ zat ons or by th rd part es.
Another GFMAM project (the Internat onal Accord) w ll prov de the framework for assess ng the
relevance and level of d fferent asset management qual f cat ons from prov ders around the world.
The assessment of qual f cat ons w ll be undertaken us ng the asset management qual f cat ons
Framework, wh ch s fully mapped to the 39 subjects n the Asset Management Landscape core.
It s expected that asset management qual f cat ons ncluded w th n a GFMAM asset management
framework w ll have been assessed us ng the Internat onal Accord. Th s w ll be part cularly
benef c al to mult -nat onal organ zat ons that are members of more than one GFMAM member
organ zat on and are seek ng a common approach to asset management qual f cat ons globally.
4.5 Knowledge
Most GFMAM member organ zat ons already have a body of knowledge, knowledge base,
knowledge centre or other n t at ves to collate and d ssem nate knowledge, but the ab l ty to
compare, contrast, al gn and share nformat on across member organ zat ons s l m ted due to the
d fferent approaches used to develop these. Mapp ng the member organ zat ons’ knowledge to the
39 subjects n the Asset Management Landscape core w ll fac l tate the shar ng of case stud es,
papers, how-to gu des and best pract ces, thereby rap dly ncreas ng the volume of mater al
ava lable to end users.
4.6 Assessment Methods and Awards
As organ zat ons adopt asset management, some w ll rap dly want to develop the r capab l t es
beyond s mple conformance w th the requ rements of ISO 55001. It w ll be mportant for GFMAM
member organ zat ons to prov de gu dance to these organ zat ons on a cons stent way of
assess ng asset management matur ty across the 39 subjects n the Asset Management
Landscape core.
GFMAM member organ zat ons may have developed the r own assessment methods that may also
be used for asset management awards, and there w ll be n ncreas ng need to ensure these
assessment methods are al gned w th the 39 subjects and are cons stent across GFMAM member
organ zat ons.

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5 Asset Management Fundamentals

Although def n t ons of asset and asset management are not part of the asset management
landscape core, the follow ng def n t ons are ncluded to prov de the context for the asset
management fundamentals that follow. They are taken from the Internat onal Standard ISO
55000, Asset management - Overv ew, pr nc ples and term nology.
An asset s def ned n ISO 55000 as ‘ tem, th ng or ent ty that has potent al or actual value to an
organ zat on’.
Asset management s def ned n ISO 55000 as ‘coord nated act v ty of an organ zat on to real se
value from assets’.
Th s s a much broader v ew, and a more challeng ng scope, than just the ma ntenance of phys cal
equ pment, or the max m s ng of y eld from a f nanc al portfol o. It encompasses all asset types,
tang ble and ntang ble, nd v dual components or complex systems, and all act v t es nvolved n
the asset’s l fe cycle – everyth ng from n t al dent f cat on of requ rements or opportun t es,
acqu s t on/creat on, operat ons or ut l zat on act v t es, asset stewardsh p or care/ma ntenance
respons b l t es, through to renewal or d sposal and any rema n ng l ab l t es. Asset management s
therefore hol st c – t cons ders the whole p cture rather than just nd v dual contr but ons.
The fundamentals of asset management, that need to be understood and embedded nto asset
management to ensure that value s real sed from assets, are:
Value: Assets ex st to prov de value to the organ zat on and ts stakeholders.

Asset management does not focus on the asset tself, but on the value that the asset can prov de
to the organ zat on. The value (wh ch can be tang ble or ntang ble, f nanc al or non-f nanc al) w ll
be determ ned by the organ zat on and ts stakeholders, n accordance w th the organ zat onal
object ves.
Al gnment: Asset management translates the organ zat onal object ves nto techn cal and f nanc al
dec s ons, plans and act v t es.
Asset management dec s ons (techn cal, f nanc al and operat onal) collect vely enable the
ach evement of the organ zat onal object ves.
Leadersh p: Leadersh p and workplace culture are determ nants of real sat on of value.
Leadersh p and comm tment from all manager al levels s essent al for successfully establ sh ng,
operat ng and mprov ng asset management w th n the organ zat on.
Assurance: Asset management g ves assurance that assets w ll fulf l the r requ red purpose.
The need for assurance ar ses from the need to effect vely govern an organ zat on. Assurance
appl es to assets, asset management and the asset management system.

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6 GFMAM Asset Management Landscape Subjects, Second Ed t on

The Asset Management Landscape subjects are g ven n the l st below. Informat on about how
these subjects map to the F rst Ed t on of the Landscape s n Sect on 9.
Landscape Subject Group Landscape Second Edition Subject
Strategy & Planning Asset Management Policy
Asset Management Strategy & Objectives
Demand Analysis
Strategic Planning
Asset Management Planning
Asset Management Decision-Making Capital Investment Decision-Making
Operations & Maintenance Decision-Making
Lifecycle Value Realisation
Resourcing Strategy
Shutdowns & Outage Strategy
Lifecycle Delivery Technical Standards & Legislation
Asset Creation & Acquisition
Systems Engineering
Configuration Management
Maintenance Delivery
Reliability Engineering
Asset Operations
Resource Management
Shutdown & Outage Management
Fault & Incident Response
Asset Decommissioning and Disposal
Asset Information Asset Information Strategy
Asset Information Standards
Asset Information Systems
Data & Information Management
Organisation & People Procurement & Supply Chain Management
Asset Management Leadership
Organizational Structure
Organizational Culture
Competence Management
Risk & Review Risk Assessment and Management
Contingency Planning & Resilience Analysis
Sustainable Development
Management of Change
Assets Performance & Health Monitoring
Asset Management System Monitoring
Management Review, Audit & Assurance
Asset Costing & Valuation
Stakeholder Engagement

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Asset Management Pol cy
Def n t on:
The pr nc ples and mandated requ rements der ved from and cons stent w th the organ zat onal /
corporate plan, prov d ng a framework for the development and mplementat on of the asset
management strateg c plan and the sett ng of the asset management object ves.
Context:
The Asset Management Pol cy prov des a set of pr nc ples and a framework for the development
and mplementat on of an organ zat on’s approach to asset management (somet mes mplemented
w th n an asset management system). The Asset Management Pol cy should also prov de the
pr nc ples that gu de the development of the organ zat on’s asset management strategy and
object ves.
The Asset Management Pol cy should be cons stent w th stakeholder requ rements and
organ zat onal object ves and constra nts. It should also be al gned w th and cons stent w th other
organ zat onal pol c es.
The Asset Management Pol cy should be supported by top management, effect vely commun cated
and regularly rev ewed w th a comm tment to cont nual mprovement of the asset management
system.
Artefacts:
Typ cal artefacts w th n th s Subject nclude:
· Asset Management Pol cy
Related Subjects:
· Asset Management Strategy
Relevant Standards:
· Clause 5.2 of ISO 55001

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Asset Management Strategy
Def n t on:
The strateg c plan for the management of the assets of an organ zat on that w ll be used to ach eve
the organ zat onal / corporate object ves.
Context:
The Asset Management Strategy descr bes the long-term approach to management of the phys cal
assets. It would typ cally nclude a set of strateg c statements that descr be the current and future
serv ce levels the organ zat on s plann ng to del ver and the current and future Asset Management
capab l t es that the organ zat on needs n order to susta nably del ver these outcomes.
The Asset Management Strategy would typ cally nclude:
· Asset management object ves based upon scenar o analyses that ncludes measureable
object ves on the expected econom c, env ronmental and soc al performance of an
organ zat on's asset portfol o.
· Key accountab l t es for both the act v t es covered by the Asset Management Strategy
and for the mplementat on and ongo ng ma ntenance of the Asset Management Strategy.
· The dec s on-mak ng cr ter a that are used to undertake l fecycle cost and r sk analys s to
determ ne the opt mum asset ntervent ons,
· How the organ zat on w ll develop ts asset nformat on to support such analys s and how
the organ zat on w ll manage uncerta nty assoc ated w th ts asset nformat on
· A reference to the overall Asset Management System that descr bes the management
system that the organ zat on has mplemented / s mplement ng nclud ng a descr pt on of
how the Asset Management Strategy f ts nto the AM management system.
· The methodology for determ n ng asset and network cr t cal ty.
Artefacts:
· Asset Management Object ves
· Strateg c Asset Management Plan (SAMP)
Related Subjects:
· Stakeholder Engagement
· Demand Analys s
· Strateg c Plann ng
Relevant Standards:
· Clause 6.2.1 of ISO 55001

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Demand Analys s
Def n t on:
The processes an organ zat on uses to both assess and nfluence the demand for, and level of
serv ce from, an organ zat on's assets.
Context:
Demand analys s typ cally ncludes the analys s of future demand for the product or serv ces be ng
offered and the requ rements th s demand w ll place on the asset portfol o.
There are several elements of Demand Analys s that need to be cons dered:
· H stor c demand
· Dr vers for demand
· Future demand and change n demand over t me
· Changes n requ red levels of serv ce
· Current and future ut l sat on and capab l ty of assets
· Impact on the future performance, cond t on and capab l ty
Demand analys s also cons ders the use of non-asset solut ons where demand may exceed supply
and demand also needs to be managed n order to reduce the demand or reduce the requ red level
of serv ce.
Artefacts:
· Demand Forecasts
· H stor cal Demand Analys s
· Demand Scenar os
· Demand Management Strategy
· Serv ce Level Spec f cat ons
Related Subjects:
Relevant Standards:

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Strateg c Plann ng
Def n t on:
The processes an organ zat on uses to undertake strateg c asset management plann ng.
Context:
Strateg c plann ng ncludes the processes for determ n ng long-term renewal, enhancement and
ma ntenance work volumes, assoc ated r sks and costs to meet the asset management object ves.
Th s ncludes assess ng how the organ zat on addresses the requ rements dent f ed dur ng
demand analys s and how the Strateg c Asset Management Plan supports the overall
organ zat onal corporate plan.
Strateg c plann ng would typ cally nvolve the development of a strateg c plann ng framework that
descr bes how Demand Analys s and the requ red levels of serv ce are cons dered and modelled n
the development of the organ zat on’s proposed ma ntenance, renewal and enhancement work
volumes.
The strateg c plann ng processes should enable organ zat ons to develop work volumes and costs
for d fferent scenar os to reflect potent al changes n r sk, demand, output requ rements or fund ng
constra nts from d fferent stakeholders.
Artefacts:
· Strateg c Asset Management Plan (SAMP)
· Work volumes and costs
Related Subjects:
· Stakeholder Engagement
· Demand Analys s
· Asset Management Plann ng
Relevant Standards:

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Asset Management Plann ng
Def n t on:
The act v t es to develop the Asset Management plans that spec fy the deta led act v t es and
resources, respons b l t es and t mescales and r sks for the ach evement of the asset management
object ves.
Context:
Strateg c Plann ng addresses the strateg c plann ng act v t es undertaken w th n an organ zat on.
Asset Management Plann ng s the process of develop ng the deta led Asset Management Plans
that nclude the follow ng:
· A rev ew of prev ous Asset Management Plan(s) w th recovery plans where appl cable
· The act v t es that an organ zat on ntends to undertake n order to del ver the Asset
Management object ves and level of serv ce
· The costs assoc ated w th del ver ng these act v t es
· The outcomes expected from the appl cat on of these act v t es
· The resources necessary to execute asset management plans
· Integrat on of Asset Management Plans w th other organ zat onal plans e.g. f nanc al
plans, health and safety plans and human resource plans)
· The act v t es necessary to del ver act v t es to statutory, regulatory, ndustry and techn cal
standards where appl cable
· How the plan w ll be approved mon tored, rev ewed and updated
Artefacts:
· Asset Management Plans
· Work volumes and costs
· Resource plans
Related Subjects:
· Resource Strategy
· Shutdown & Outage Strategy
Relevant Standards:
· Clause 6.2.2 of ISO 55001

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Cap tal Investment Dec s on-Mak ng
Def n t on:
The processes and dec s ons to evaluate and analyse scenar os for dec s ons related to cap tal
nvestments of an organ zat on. These processes and dec s ons may relate to new assets for the
organ zat on (e.g. Greenf eld projects) and/or replacements of assets at end of l fe (CAPEX
susta n ng programs).
Context:
Cap tal Investment Dec s on-Mak ng ncludes an evaluat on approach of alternat ve nvestments
w th a v s on of long-term benef ts (asset l fe-cycle perspect ve). Th s approach ncludes steps of
def n t on, character zat on, evaluat on and analys s that dr ve the best opt ons to dec s on-mak ng
managers.
Cap tal Investment Dec s on-Mak ng would typ cally nclude:
· Def n ng the scope of the nvestments that are subject to analys s of alternat ves;
· The assumpt ons for each nvestment opt on nclud ng the demands and level of serv ce
requ red;
· The cons derat on of the nformat on that need to be collected or est mated for each
opt on;
· The cons derat on of all l fecycle costs;
· The cons derat on of r sk, how th s changes over t me and how th s s valued and
evaluated;
· Undertak ng l fe-cycle cost analys s to allow the compar son of alternat ve opt ons from the
perspect ve of the asset l fe-cycle; and
· Analys s of the present value and annual zed costs and r sks for each of the opt ons be ng
cons dered.
Artefacts:
· Pr or t s ng process for Cap tal Investments
· L fe-Cycle Cost ng algor thms
Related Subjects:
· Demand Analys s
· Operat ons & Ma ntenance Dec s on-Mak ng
· L fecycle Value Real sat on
Relevant Standards:
· ISO 15686 - Bu ld ngs and constructed assets – Serv ce l fe plann ng

Engl sh Vers on
Operat ons & Ma ntenance Dec s on-Mak ng
Def n t on:
The management act v t es and processes nvolved n determ n ng the Operat ons and
Ma ntenance requ rements n support of the Asset Management object ves and goals.
Context:
Operat ons & Ma ntenance Dec s on-Mak ng s the determ nat on of the Operat ons and
Ma ntenance act v t es necessary to meet the Asset Management object ves, tak ng nto account
organ zat onal and appl cable regulatory pol c es.
The Operat ons & Ma ntenance Dec s on-Mak ng dec s on process typ cally cons der:
· Customer qual ty requ rements (product and serv ce)
· Current asset capab l ty (throughput, product / serv ce flex b l ty, qual ty)
· Use of FMECA / RCM or s m lar techn ques to determ ne ma ntenance act v t es
· The organ zat on’s agreed cost – r sk balance to determ ne act v ty ntervals nclud ng
cons derat on of asset and network cr t cal ty
· Forecast ng med um and long term (3+ years) product on / serv ce requ rements based
upon projected demand
· Perform f nanc al analys s of product on tact cs (product on cost structure def ned by
assets and the r operat ons)
· Documentat on of ma ntenance requ rements n spec f cat ons and standards
· Evaluate O&M mpact of cap tal project proposal alternates (l fe cycle cost ng, long and
short term mpact).
Artefacts:
· Asset capab l ty requ rements;
· Ma ntenance Requ rements Analys s documents;
· Ma ntenance standard and spec f cat ons;
Related Subjects:
· Cap tal Investment Dec s on-Mak ng
· Account ng Pract ces
· Ma ntenance Del very
· Asset Operat ons
Relevant Standards:

Engl sh Vers on
L fecycle Value Real sat on
Def n t on:
The act v t es undertaken by an organ zat on to balance the costs and benef ts of d fferent renewal,
ma ntenance, overhaul and d sposal ntervent ons.
Context:
L fecycle Value Real sat on refers to the methods used, to ensur ng the best total value s obta ned,
n asset acqu s t on, creat on, ut l zat on, ma ntenance, mprovements, renewals and d sposals to
meet the organ zat ons object ves. Th s requ res cons derat on of the nteract on between these
act v t es, and determ nat on of the r ght comb nat on, nclud ng costs, r sks, performance and
susta nab l ty effects. Value relates to the contr but on to the organ zat onal object ves and may be
man fested n var ous ways, and are not always easy to quant fy. However the max mum total
value often equates to the lowest whole l fe cycle cost of the asset, w th n any absolute constra nts
or comm tments.
L fecycle Value Real sat on would typ cally nclude:
· Evaluat on processes and cr ter a for the r usage nclud ng the level of deta l requ red n
relat on to dec s on cr t cal ty and dec s on complex ty;
· A mult -d sc pl ned approach and the quant f cat on of value, d rect and nd rect ntervent on
costs, r sks, performance, operat ng and ma ntenance costs;
· Cons derat on of the systems context for the asset, s nce the l fe cycle of an nd v dual tem
may be constra ned by, or may contr bute to, a d fferent t mescale of requ red performance
or asset management respons b l ty;
· System modell ng to determ ne whether the l fecycle value solut on w ll del ver the requ red
demands and levels of serv ce expected by stakeholders.
Artefacts:
· Methodolog es for determ n ng value
· Cr ter a for dec s on-mak ng
· L fecycle Value Analys s processes and appl cat on cr ter a
Related Subjects:
· Demand Analys s
· Cap tal Investment Dec s on-mak ng
· Operat ons & Ma ntenance Dec s on-mak ng
Relevant Standards:

Engl sh Vers on
Resourc ng Strategy
Def n t on:
Determ n ng the act v t es and processes to be undertaken by an organ zat on n order to procure
and use people, plant, tools and mater als to del ver the Asset Management Object ves and Asset
Management Plan(s).
Context:
A Resourc ng Strategy typ cally ncludes the analys s necessary to determ ne the best way to
establ sh or procure the requ red resources to del ver the Asset Management object ves and the
act v t es def ned n the Asset Management Plan(s). These resources nclude:
· Competent Labour;
· Spares;
· Plant and equ pment;
· Spec al tools and equ pment;
· Hardware and software.
The Resourc ng Strategy should cons der the costs and r sks of out-sourc ng the prov s on of
resources and how to best ntegrate the ava lable resources across the organ zat on n order to
cost effect vely del ver the Asset Management Plan(s).
Where resources are be ng procured externally to the organ zat on, the Resourc ng Strategy
should nclude an assessment of the costs and r sks relat ng to the t m ng and quant t es of the
resources to be procured, nclud ng any nternal storage or management costs.
Artefacts:
· Resource Strategy
· Procurement plans for the purchase of resources
· Spares management strategy.
· Resourced project plans
Related Subjects:
· Resource Management
Relevant Standards:

Engl sh Vers on
Shutdown and Outage Strategy
Def n t on:
The act v t es taken by an organ zat on to develop a strategy for shutdown and outages.
Context:
Shutdown and Outage Strategy ncludes the procedures and requ rements to enable organ zat ons
to reduce downt me and outages wh lst cons der ng the cost to carry out the act v t es def ned n the
Asset Management Plan eff c ently and safely dur ng planned outages.
The Shutdown and Outage Strategy would typ cally nclude:

· Shutdown or Outage object ves that are agreed by all the part es nvolved, nclud ng
operat ons, ma ntenance, eng neer ng, projects, central product on plann ng, contractors or
serv ce prov ders among others.
· Analys s of the trade-off between the eff c enc es of fewer but longer shutdowns or outages
(that have a h gher mpact on the bus ness product on) aga nst more but shorter shutdowns
or outages (that have less mpact on the bus ness but result n less eff c ent del very of
work).
· Prel m nary scope requ rements def n ng the scope of work to be undertaken w th well
understood r sks and consequences dent f ed and agreed upon by all part es nvolved.
· A f nal scope and package nclud ng the f nal shutdown scope, schedule ( nclud ng shutt ng
down and start ng up the asset or fac l ty requ red t me), the scope of work, mater als
requ red, manpower, contractors and other resources requ red.
· Scope challenge exerc ses to ensure the strategy s robust.
Artefacts:
· Shutdown & outage strategy
· Shutdown and outage procedure and packag ng requ rements.
· A long-term planned outages schedule.
· Level of author t es n the organ zat on for every stage of the shutdown or outage.
Related Subjects:
· Contract & Suppl er Management
· Shutdown & Outage Management
Relevant Standards:
· None

Engl sh Vers on
Techn cal Standards & Leg slat on
Def n t on:
The processes used by an organ zat on to ensure ts asset management act v t es are compl ant
w th the relevant techn cal standards and leg slat on.
Context:
Techn cal Standards and Leg slat on ncludes processes for the dent f cat on, appl cab l ty updat ng
and compl ance assurance of standards and leg slat on n the Asset Management context.
Artefacts:
· Reg ster of appl cable techn cal standards and leg slat on
Related Subjects:
Relevant Standards:
· None dent f ed

Engl sh Vers on
Asset Creat on & Acqu s t on
Def n t on:
An organ zat on’s processes for the acqu s t on, nstallat on and comm ss on ng of assets.
Context:
Asset Creat on & Acqu s t on descr bes pol c es and processes for the acqu s t on, nstallat on
and comm ss on ng of assets. Th s subject also ncludes elements of approval and releas ng
of fund ng, arrangements for hand-over to operat ons, the mon tor ng and capture of actual
costs and benef ts analys s. The development of requ rements analys s, des gn and
ver f cat on and val dat on strateg es are covered n Systems Eng neer ng.
The management act v t es w th n the scope of th s subject are:
· Appl cat on of Investment Pol c es
· Appl cat on of Investment Processes
· Development of Construct on Processes
· Execut on of Construct on Processes
· Project Management
· Development of Comm ss on ng Processes
· Execut on of Comm ss on ng Processes
· Handback to Operat ons
Artefacts:
Typ cal artefacts w th n th s subject nclude:
· Acqu s t on Strategy
· Acqu s t on Request
· Acqu s t on Agreement
· Acqu s t on Agreement Change Request
· Acqu s t on Commun cat on Report
· Programme Management Framework
· Project Management Procedures
· Project Techn cal Management Plan
· Work Breakdown Structure
· Project Schedules
· Project Budgets
· Ver f cat on Report
· Traceab l ty Mapp ng
· Val dat on Report
· Construct on Progress Reports
· Acceptance Cr ter a Documents
· Del very Acceptance Report
Related Subjects:
Standards:
· Numerous Construct on Codes Ident f ed
· Numerous Spec f c Comm ss on ng Codes Ident f ed

Engl sh Vers on
Systems Eng neer ng
Def n t on:
An nterd sc pl nary, collaborat ve approach to der ve, evolve and ver fy a l fe cycle balanced
system solut on wh ch sat sf es customer expectat ons and meets publ c acceptab l ty.
Context:
Systems Eng neer ng descr bes pol c es and processes for the requ rements analys s, des gn
and evaluat on of assets. Systems Eng neer ng processes relate to manager al and techn cal
act v t es. Ver f cat on and val dat on execut on s cons dered as part of Asset Creat on and
Acqu s t on. The management act v t es w th n the scope of th s subject are:
· Generat on of Systems Eng neer ng Pol c es
· Development of System Eng neer ng Processes
· Execut on of Systems Eng neer ng Processes
Artefacts:
· Systems Eng neer ng Management Plan
· System Descr pt on Documents
· System Requ rements Documents
· System Eng neer ng Performance Measures
· Traceab l ty Mapp ng Documents
· System Analys s Plan
· System Analys s Report
· Documented Systems Eng neer ng Processes
· Ver f cat on Strategy
· Val dat on Strategy
· Val dat on Processes
Related Subjects:
· Conf gurat on Management
Standards:
· ISO/IEC 15288:2008 Systems and software eng neer ng - System l fe cycle
processes
· MIL-STD-499 M l tary Standard System Eng neer ng Management.

Engl sh Vers on
Conf gurat on Management
Def n t on:
A management process for establ sh ng and ma nta n ng cons stency of a product's phys cal
and funct onal attr butes w th ts des gn and operat onal nformat on throughout ts l fe.
Context:
Conf gurat on Management descr bes pol c es and processes for the record ng and
mon tor ng of an asset’s funct onal, phys cal and support status. Conf gurat on Management
s closely al gned w th the pr nc ples and requ rements of Systems Eng neer ng. The
management act v t es w th n the scope of th s subject are:
· Generat on of Conf gurat on Management Pol c es
· Development of Conf gurat on Management Processes
· Execut on of Conf gurat on Management Processes
Artefacts:
· Conf gurat on Management Plan
· Conf gurat on Management Strategy
· Conf gurat on Management Records
· Conf gurat on Basel nes
· Conf gurat on Basel ne Agreements
· CM Change / Var ance Requests
· Conf gurat on Status Reports
· Conf gurat on Evaluat on Reports
· System Release Reports
· System Release Approvals
Related Subjects:
· Systems Eng neer ng
Standards:
· AS/ISO 10007:2003 Qual ty Management Systems – Conf gurat on Management
· EIA-649-A 2004 Nat onal Consensus Standard for Conf gurat on Management
· MIL-STD 973 Conf gurat on Management (Cancelled)

Engl sh Vers on
Ma ntenance Del very
Def n t on:
The management of ma ntenance act v t es nclud ng both prevent ve and correct ve ma ntenance
management methodolog es.
Context:
The organ zat on of ma ntenance act v t es w th n an agreed pol cy nclud ng def n t on of
ma ntenance spec f cat ons, standards and schedules, ma ntenance execut on procedures,
procedures for m ssed ma ntenance and the capture and ut l sat on of ma ntenance and nspect on
measurements and results.
These act v t es nclude:

· Ident fy ng the resources needed to support ma ntenance assurance processes.
· Implement ng the respons b l t es and accountab l t es for asset ma ntenance del very and
mprovement as part of the asset management system processes.
· Day to day appl cat on of processes that ntegrate ma ntenance del very processes w th
eng neer ng, f nance, HR, IT, operat ons etc.
· Author sat on of fund ng suff c ent resources and support systems to support asset
nvestment plann ng.
Artefacts:
· Ma ntenance staff ng requ rements (quant ty & sk lls/cert f cat on)
· Ma ntenance tools and relevant nfrastructure requ rements.
· Ma ntenance strategy and tact cs.
· Ma ntenance nformat on systems nfrastructure.
Related Subjects:
· Whole-l fe Cost & Value Opt m sat on
· Rel ab l ty Eng neer ng
· Asset Operat ons
Standards:
· None dent f ed.

Engl sh Vers on
Rel ab l ty Eng neer ng
Def n t on:
The processes for ensur ng that an tem shall operate to a def ned standard for a def ned
per od of t me n a def ned env ronment.
Context:
Rel ab l ty Eng neer ng typ cally ncludes the follow ng elements:
· Day to day appl cat on of processes that ntegrate Rel ab l ty Eng neer ng processes w th
eng neer ng, f nance, HR, IT, ma ntenance and operat ons;
· Ident fy the resources needed to support rel ab l ty assurance;
· Work w th n the respons b l t es, author t es and accountab l t es for asset rel ab l ty
mprovement;
· Spec fy and des gn the respons b l t es, author t es and accountab l t es (and support ng
measures) for asset rel ab l ty mprovement as part of the asset management system
processes, nclud ng the asset management system tself;
· Appl cat on of propr etary or predeterm ned methodolog es for analyses to support asset
management dec s on mak ng dur ng asset concept on stages;
· Implement the change management respons b l t es, author t es and accountab l t es of
the asset management system related to rel ab l ty;
· Spec fy and des gn the change management respons b l t es, author t es and
accountab l t es as part of the asset management system processes, nclud ng the asset
management system tself;
· Implement the spec f ed rel ab l ty eng neer ng processes (as part of the asset
management system), nclud ng the collat on of nformat on and data to support cont nual
mprovement;
· Spec fy and des gn the rel ab l ty eng neer ng competenc es (and support ng measures)
as part of the asset management system processes; and
· Development and des gn of processes and plans to support RAMS Modell ng.
Artefacts:
· RAMS Modell ng Output
· RCM Analys s Output
· We bull Plots and Analys s
· Completed Root Cause Analyses
Related Subjects:
· Cap tal Management Investment Strategy
· Whole l fe Cost and Value Opt m zat on
· Asset Performance and Health Mon tor ng
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Asset Operat on
Def n t on:
The processes used by an organ zat on to operate ts assets to ach eve the bus ness object ves.
Context:
Asset Operat on s concerned w th processes that prov de nstruct ons to Operators about how to
operate the assets w th n the appropr ate des gn, ma ntenance and operat onal parameters. Th s
ncludes the development of an Asset Operat ons strategy and plans that outl ne the approach,
act v t es and resources nvolved n manag ng and mplement ng operat ons.
Artefacts:
· Cr ter a for the requ red processes
· Control of the processes n accordance w th the cr ter a
· Documented nformat on to the extent necessary to have conf dence and ev dence that
the processes have been carr ed out as planned
· Treat ng and mon tor ng of operat onal r sks
Related Subjects
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Resource Management
Def n t on:
Implement ng the Resourc ng Strategy to manage the use of funds, people, plant, tools and
mater als n del ver ng asset management act v t es.
Context:
Manag ng the resources requ red for the execut on of each asset management act v ty, nclud ng:
· F nances;
· Spares;
· Hardware and software;
· Data and Informat on; and
· Tra n ng.
Integrat ng the resource ut l sat on across the organ zat on and across all asset management
act v t es.
Artefacts:
· Organ zat onal Structure
· Job spec f cat ons
· Mater als Catalogue
· Inventory Records
· Tra n ng records
· Tools
· Performance appra sals
Related Subjects
· Resourc ng Strategy
· Conf gurat on Management
· Competence Management
· Procurement & Supply Cha n Management
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Shutdown and Outage Management
Def n t on:
An organ zat on’s processes for dent f cat on, plann ng, schedul ng, execut on and control of work
related to shutdowns or outages.
Context:
Shutdown and Outage Management descr bes pol c es and processes for the mplementat on of
the shutdown and outage strategy to ensure the effect ve management of shutdowns and outages.
Th s subject ncludes processes relat ng to the dent f cat on and f lter ng of shutdown work,
plann ng and schedul ng, work execut on and control and the development of lessons learned.
The management act v t es w th n the scope of th s subject nclude:
· Development of Shutdown Management Pol c es
· Development of Shutdown Management Processes
· Execut on of Shutdown Management Processes
· Project Management
Artefacts:
· Shutdown Work L st
· Work Packages
· Shutdown Management Procedures
· Shutdown Work Breakdown Structure
· Shutdown Schedules
· Shutdown Budgets
· Shutdown Progress Reports
· Acceptance Cr ter a Documents
· Post Complet on Reports
Related Subjects:
· Resourc ng Strategy
· Shutdowns & Outage Strategy
· Procurement & Supply Cha n Management
Standards:
· None Ident f ed

Engl sh Vers on
Fault and Inc dent Response
Def n t on:
Respond ng to fa lures and nc dents n a systemat c manner, nclud ng nc dent detect on and
dent f cat on, fault analys s, use of standard responses, temporary and permanent repa rs as well
as the tak ng over and hand ng back of s tes.
Context:
Develop ng plans to respond to unplanned events and manag ng the resources requ red for the
response to the events, nclud ng:
· Spares;
· Data and Informat on;
· Commun cat ons; and
· Escalat on cr ter a.
Th s ncludes the Integrat on of the response plans across the organ zat on and ensur ng the cause
of fa lure s effect vely captured to allow subsequent analys s of fa lure data.
Artefacts:
· R sk reg ster
· Safety plan
· Standby roster
· Commun cat on plan
· Response plans
· Operat ng procedures
· Emergency stores
· Tools and equ pment
· Sk lled staff
Related Subjects
· Cont ngency Plann ng & Res l ence Analys s
· R sk Management
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Asset Decomm ss on ng & D sposal
Def n t on:
The processes used by an organ zat on to decomm ss on and d spose of assets due to age ng or
changes n performance and capac ty requ rements.
Context:
Asset Decomm ss on ng & D sposal develops and appl es processes to decomm ss on and d spose
of assets due to age ng or changes n performance and capac ty requ rements. Th s ncludes the
ntegrat on of Asset D sposal Plans w th other organ zat onal plann ng act v t es (e.g. f nanc al
plans, human resource plans).
Th s dec s on process ncludes the cons derat on of costs and benef ts of rat onal sat on us ng a
whole l fe approach, the mpact of asset rat onal sat on on other nfrastructure and the processes
for d sposal of assets.
Factors to be taken nto account n these processes nclude:
· Env ronmental Impact of d sposal
· Land rehab l tat on
· Res dual value of assets
· Cont nued serv ce del very
Artefacts:
· Env ronmental Impact Analys s
· Land Rehab l tat on Plan
· Outage Management Plan
· Asset D sposal Plan
· Log st cs Plan
Related Subjects:
· Shutdown and Outage Strategy
· R sk Assessment and Management
· Asset Informat on Management
Relevant Standards:
· Env ronmental
· Serv ce level
· Leg slat on regard ng asset d sposal

Engl sh Vers on
Asset Informat on Strategy
Def n t on:
The strateg c approach to the def n t on, collect on, management, report ng and overall governance
of asset nformat on necessary to support the mplementat on of an organ zat on's asset
management strategy and object ves.
Context:
An Asset Informat on Strategy descr bes how asset nformat on supports the del very of the Asset
Management Strategy and object ves and what Asset Informat on Systems and governance
processes are necessary to del ver that asset nformat on. An Asset Informat on Strategy would
typ cally nclude:
· A pol cy on asset nformat on;
· The dent f cat on of asset nformat on needs to support the organ zat on’s dec s on-mak ng
and operat onal processes nclud ng data qual ty and accuracy requ rements;
· Respons b l t es and accountab l t es for nformat on management;
· Processes for cont nued al gnment of these needs as the organ zat on’s requ rements
evolve;
· A gap analys s of current nformat on ava lab l ty aga nst nformat on needs, nclud ng
cons derat on of data qual ty and accuracy requ rements;
· An analys s of the costs and benef ts of prov d ng for these asset nformat on needs,
nclud ng cons derat on of data qual ty and accuracy requ rements;
· The nformat on system bus ness requ rements necessary to support the organ zat on’s
bus ness processes and nformat on needs;
· Processes for the mprovement of asset nformat on and data qual ty;
· A descr pt on of the organ zat on’s asset nformat on mprovement programmes.
Artefacts:
· Asset Informat on Pol cy
· Asset Informat on Strategy
· Asset Informat on Bus ness Cases
· Asset Informat on System Bus ness Requ rements
Related Subjects:
· Asset Informat on Standards
· Asset Informat on Systems
· Data & Informat on Management
Relevant Standards:
· ISO 27000/1/2

Engl sh Vers on
Asset Informat on Standards
Def n t on:
The spec f cat on of a cons stent structure and format for collect ng and stor ng asset
Informat on and for report ng on the qual ty and accuracy of asset nformat on.
Context:
Asset Informat on Standards ncludes the development of standards and gu del nes that ensure a
cons stent approach to the record ng of asset nformat on to meet the asset nformat on needs
def ned n the Asset Informat on Strategy. Th s ncludes def n ng common methods for record ng
the follow ng:
· The asset h erarchy;
· Attr butes of assets that are requ red and the acceptable values for these;
· The geograph cal pos t on of assets;
· Cond t on grades;
· Categor s ng and record ng asset defects;
· Categor s ng and record ng causes of asset fa lure;
· Categor s ng and record ng consequences of asset fa lure;
· Ut l sat on of assets.
Asset Informat on Management also ncludes def n ng the requ red qual ty and accuracy for all
asset nformat on, nclud ng common methods for how qual ty and accuracy s def ned and
assessed.
Artefacts:
· Asset Informat on Standards and Gu del nes
· Asset Data D ct onary
· Data Qual ty Def n t ons And Gu del nes
Related Subjects:
Relevant Standards:
· ISO 27000/1/2

Engl sh Vers on
Asset Informat on Systems
Def n t on:
The asset nformat on systems an organ zat on has n place to support the asset management
act v t es and dec s on-mak ng processes n accordance w th the Asset Informat on Strategy.
Context:
Asset Informat on Systems ncludes the prov s on, operat on and ma ntenance of all Asset
Informat on Systems necessary to del ver the asset nformat on requ rements def ned n the Asset
Informat on Strategy. Asset Informat on Systems ncludes cons derat on of the follow ng;
· The asset nformat on systems and arch tecture necessary to del ver the nformat on
system bus ness requ rements def ned n the Asset Informat on Strategy;
· Analys s of the costs and benef ts of mplement ng new or updated asset nformat on
systems to meet the bus ness requ rements;
· How the asset nformat on system requ rements can be del vered n accordance w th the
organ zat on’s IT strategy.
· An evaluat on of how systems can be used to automate bus ness processes;
· An assessment of whether to acqu re a ‘van lla’ best of breed solut on and al gn the
bus ness processes to the system, or to mod fy an ex st ng system or to develop a
bespoke software solut on;
· Asset Informat on Systems mplementat on plan nclud ng governance arrangements;
· An asset nformat on system m grat on plan to move from the current systems to the
requ red arch tecture;
· Clearly def ned system ownersh p respons b l t es.
Artefacts:
· IT Strategy
· Informat on Systems Arch tecture
· Informat on Systems Strategy and Bus ness Cases
· Informat on Systems Implementat on and M grat on Plan
· Informat on System governance and ownersh p arrangements
Related Subjects:
Relevant Standards:
· ISO 27000/1/2

Engl sh Vers on
Data & Informat on Management
Def n t on:
The data and nformat on held w th n an organ zat on's asset nformat on systems and the
processes for the management and governance of that data and nformat on.
Context:
Data and Informat on Management covers the data held w th n an organ zat on’s asset nformat on
systems and the qual ty and accuracy of that data, compared to the requ rements def ned n the
Asset Informat on Strategy and asset nformat on standards.
Data and Informat on Management ncludes the processes for data management wh ch would
typ cally nclude a def n t on of data owners, consumers, val dat on processes, and the expected l fe
of the data. Th s ncludes any data collect on and ma ntenance plans where the Asset Informat on
Strategy has shown a gap n the organ zat on’s current asset nformat on.
Data and Informat on Management also ncludes the governance processes for prov d ng the
organ zat on w th a level of assurance that the data and nformat on w th n the organ zat on’s asset
nformat on systems s f t for purpose and s cons stent w th the asset nformat on standards and
qual ty and accuracy requ rements.
Artefacts:
· Data collect on plans
· Data management procedures
· Data governance procedures
· Data assurance and aud t reports;
Related Subjects:
Relevant Standards:
· ISO 27000/1/2

Engl sh Vers on
Asset Management Leadersh p
Def n t on:
The leadersh p of an organ zat on requ red to promote a whole l fe asset management approach to
del ver the organ zat onal and Asset Management object ves of the organ zat on.
Context:
Leadersh p can be def ned as the exerc se of power to nfluence people toward a v s on and a
purpose. Leaders have the ab l ty to nfluence each other to ach eve the object ves of the
organ zat on, to encourage team work and to lead by example. In the context of Asset
Management therefore, Leadersh p s concerned w th the nfluence of people to del ver the Asset
Management strategy and object ves of an organ zat on.
Asset Management Leadersh p covers the plann ng and establ shment of the organ zat onal
leadersh p team, def n ng ts respons b l t es and accountab l t es for Asset Management and
def n ng the leadersh p style needed to support Asset Management n the organ zat on. It ncludes
the need to dent fy the nterfaces of Asset Management act v t es w th other organ zat onal
act v t es. The leadersh p style of an organ zat on should support the ach evement of the
organ zat onal and Asset Management object ves. For asset management to be successful,
employees should understand these object ves, and the r role n ach ev ng them and th s requ res
leadersh p from all levels of the organ zat on.
Leadersh p s a process nvolv ng leaders and followers. It enables teamwork to be translated nto
planned results, potent ally ach ev ng a level of excellence. Leadersh p becomes a process when t
becomes more act ve and there s no longer a s ngle leader. In th s case, role models for all are
gu ded by the values and bel efs of the organ zat on, wh ch are cons stent w th the r culture and
context and teamwork s v s ble.
Artefacts:
· Leadersh p Management Strategy
· Leadersh p Competenc es
· Leadersh p Gap Analys s
· Leadersh p Cont nu ty Management Plan
· Leadersh p Accountab l ty Descr pt ons
Related Subjects:
· Organ zat onal Culture
Relevant Standards:

Engl sh Vers on
Organ zat onal Structure
Def n t on:
The structure of an organ zat on n terms of ts ab l ty to del ver the organ zat onal and Asset
Management object ves.
Context:
The des gn of an Organ zat onal Structure determ nes how roles and respons b l t es are ass gned
w th n an organ zat on and sets the requ rements for nformat on flows between d fferent
departments, funct ons and management levels. The appropr ate organ zat onal des gn depends
on a number of nternal and external elements that can affect organ zat onal structure such as:
· S ze of the organ zat on
· Ownersh p structure – pr vate, government, l sted company
· Type of ndustry, products or serv ces
· Object ves and strateg es of the organ zat on
· Matur ty of the organ zat on – start-up or establ shed bus ness
· D vers ty of the organ zat on – s ngle s te, s ngle country or large mult nat onal
· Cultural background.
All of these can have an mpact on the performance of the organ zat on, the way an organ zat on s
structured, the leadersh p style and acceptable behav ours. Organ zat onal des gn can also create
d fferent outcomes n behav our and culture. It s therefore mportant to al gn the organ zat on’s
des gn w th the des red leadersh p style and culture: m sal gnment can lead to a less than des rable
outcome. D fferent organ zat onal structures nclude:
· Funct onal structure;
· Decentral sed structure;
· Matr x structure.
Artefacts:
· Organ zat onal Chart
· Organ zat onal Roles, Respons b l t es and Author t es
· Job Descr pt ons or Pos t on Descr pt ons.
Related Subjects:
· Asset Management Leadersh p
Relevant Standards:

Engl sh Vers on
Organ zat onal Culture
Def n t on:
The culture of an organ zat on n terms of ts ab l ty to del ver the organ zat onal and Asset
Management object ves.
Context:
Culture s an extremely complex phenomenon. Culture s the lens through wh ch nd v duals
understand the world. To understand a culture one must understand that much of human
commun cat on occurs through a system of symbols, and these symbols are dependent on context.
It s mportant to understand that these symbols have no absolute mean ng where they d ffer
between cultures and contexts. Every culture has ts rules, values, behav oural patterns and myths
ma nta ned by r tes and r tuals.
Culture s a way of g v ng mean ng to exper ence. All knowledge s relevant to culture. The wrong
cultural lenses can nh b t excellence f, for example, an organ zat on sees through the lens of
complacency, and not of operat onal d sc pl ne.
Understand ng culture as a factor wh ch structures our act ons s cruc al. There s no “standard” or
“rulebook” for excellence n workplace culture; but excellence n workplace culture s what enables
excellence n Asset Management. The culture of an organ zat on serves as a bluepr nt for mak ng
dec s ons. The culture of a company s always dynam c, and the goal s to dent fy and understand
the processes of the culture of an organ zat on; not to change the culture d rectly, but to manage
through t.
Organ zat onal Culture s about the process of def n ng and then develop ng a culture that supports
the goals of the organ zat on and w ll help to del ver the Asset Management object ves of an
organ zat on.
Artefacts:
· Culture Management Strategy
· Def ned Organ zat onal Values
· Outputs from Culture Surveys
· Behav oural patterns, R tes and R tuals
Related Subjects:
Relevant Standards:

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Competence Management
Def n t on:
The processes used by an organ zat on to systemat cally develop and ma nta n an adequate
supply of competent and mot vated people to fulf l ts asset management object ves nclud ng
arrangements for manag ng competence n the boardroom and the workplace
Context:
Competence Management s about manag ng the ab l ty of nd v duals n asset management roles
to perform the r work act v t es as well as expected. Th s calls for a m x of pract cal and th nk ng
sk lls, underp nned by knowledge and understand ng relevant to the act v ty be ng carr ed out, and
s strongly nfluenced by personal attr butes and by a person’s att tudes and bel efs. Because
asset management s mult d sc pl nary and cross funct onal, t requ res people who can work
effect vely n mult d sc pl nary teams; are open to the ev dence, methodolog es and approaches
used by people from d fferent backgrounds and know how to ntegrate and nterpret these n
dec s on-mak ng.
A strateg c approach to manag ng competence and behav our should cover the development of
both nd v dual and organ zat onal competence. People come nto asset management roles from a
range of d fferent profess onal, techn cal, operat onal and commerc al backgrounds, br ng ng w th
them d fferent concepts, perspect ves, methodolog es and networks. Kn tt ng these together to
form coherent and effect ve asset management teams should be a key component of Asset
Management strategy and plann ng.
Competence requ rements descr be what people should be able to do and what they need to know
and understand. They are typ cally brought together n frameworks wh ch are ta lored to the
organ zat on or occupat onal group. Best pract ce frameworks comb ne def n t ons of nput
requ rements, output measures and des red behav ours.
Competence Management also ncludes the per od c assessment of nd v duals aga nst a
competence framework, the dent f cat on of tra n ng needs or other development needs and the
del very of the requ red tra n ng and development.
Artefacts:
· Competence Framework
· Competence Assessment Processes
· Tra n ng Needs Analys s
· Tra n ng Course Spec f cat ons
Related Subjects:
Relevant Standards:

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Procurement & Supply Cha n Management
Def n t on:
The processes used by an organ zat on to ensure that all outsourced Asset Management act v t es
are al gned w th the Asset Management object ves of the organs at ons and to mon tor the
outcomes of these act v t es aga nst these object ves.
Context:
The act v t es necessary to create, manage, ma nta n, and enforce contract and suppl er
management over the ent re l fecycle of an asset. Procurement & Supply Cha n Management
ncludes; author ng, negot at ons, adopt on, def n t on of requ rements, appra sal & select on of
contractors, outsourc ng – nsourc ng strateg es and cla m management. These elements are of
h gh pr or ty w th regard to real z ng expected sav ngs. Procurement & Supply Cha n Management
needs to al gn w th corporate standards and to ensure that negot ated sav ngs reach the bottom
l ne.
Procurement & Supply Cha n Management typ cally focuses on:

· Select on cr ter a for external contractors
· Safety n des gn where appl cable
· Standard zed contract processes.
· Improved contract compl ance.
· Internal – external collaborat on.
· Warehouse management
· Mon tor ng & rev ew of suppl er performance.
Artefacts:
· Procurement Pol cy
· Outsourc ng- nsourc ng Pol cy
· Contractor select on cr ter a
· Contracts
· Serv ce Level Spec f cat ons
· Suppl er assessments, nclud ng rev ew reports
· Improvement plans
Related Subjects:
· Asset Creat on & Acqu s t on
Relevant Standards:
· ISO 28000/1/2/3/4 - Spec f cat on for secur ty management systems for the supply cha n
· ISO 17365 - Supply cha n appl cat ons of RFID. Transport un ts
· ISO 17364 - Supply cha n appl cat ons of RFID. Returnable transport tems (RTIs)

Engl sh Vers on
R sk Assessment and Management
Def n t on:
The pol c es and processes for dent fy ng, quant fy ng and m t gat ng r sk and explo t ng
opportun t es.
Context:
R sk Assessment and Management descr bes pol c es and processes for the dent f cat on,
assessment, analys s and treatment of r sks and opportun t es. R sk Assessment and
Management s common to all subjects w th n the Asset Management Landscape.
· Generat on of R sk Management Pol c es
· Development of R sk Management Processes
· Execut on of R sk Management Processes
· Al gnment of strateg c, tact cal and operat onal r sks and r sk reg sters
· R sk m t gat on strateg es
Artefacts:
· R sk Management Pol cy
· R sk Management Strategy
· R sk Management Procedures
· R sk Reg sters
· R sk Cr ter a
· R sk Prof le
· R sk Act on Requests
· R sk Prof le Reports
· R sk Measures
Related Subjects:
· Operat ons & Ma ntenance Dec s on-mak ng
Standards:
· ISO 31000:2009 - R sk management — Pr nc ples and gu del nes
· IEC/ISO 31010 - 2009 R sk management – R sk assessment techn ques
· HB 327:2010 - Commun cat ng and consult ng about r sk

Engl sh Vers on
Cont ngency Plann ng & Res l ence Analys s
Def n t on:
The processes and systems put n place by an organ zat on to ensure t s able to cont nue e ther to
to cont nue to operate ts assets to del ver the requ red level of serv ce n the event of an adverse
mpact or ma nta n the safety and ntegr ty of the assets(whether or not the operate).
Context:
Establ sh the requ red procedures and documents to gu de the person n charge of the assets
dur ng the event to take the appropr ate dec s ons n such cr t cal t mes based on well prepared and
tested scenar os.
These documents w ll typ cally nclude:
· Ident fy ng the var ous events, nc dents, and d sasters.
· Establ sh ng the level of command and the person n charge of each event type.
· Ident fy ng the requ red support organ zat ons, w th the r spec f ed respons b l t es, needed
for each type of event (or phase of an event).
· Class fy ng the events and the recommended act ons accord ng to each type of event.
· Reference to all needed contacts requ red dur ng all poss ble scenar os.
All the poss ble scenar os need to be put to test dur ng regular t mes to evaluate both the
processes put n place and the react on of personnel dur ng these adverse events.
Artefacts:
Typ cal artefacts w th n the subject nclude:
· Wr tten and approved cont ngency plan
· Approved and s gned agreements between all part es and expectat ons dur ng these events
· Respons b l ty matr x and escalat on pol cy
· Reference to assets operat ng procedures
Related Subjects:
· Faults & Inc dent Response
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Susta nable Development
Def n t on:
The nterd sc pl nary, collaborat ve processes used by an organ zat on to ensure an endur ng,
balanced approach to econom c act v ty, env ronmental respons b l ty and soc al progress to ensure
all act v t es are susta nable n perpetu ty.
Context:
Susta nable Development enta ls ensur ng that all Asset Management processes support the
organ zat on’s susta nab l ty framework. Th s enta ls ntegrat on of the Asset Management strategy,
pol cy and plans w th the organ zat on’s strateg c plans and act v t es and stakeholder needs.
It ensures appropr ate systems are put nto place to collect and collate nformat on needed to
manage assets across the r whole l fe cycle.
Factors to be taken nto account n these processes nclude:
· Env ronmental Impact of Asset Management Plans
· Soc al Impact of Asset Management Plans
· F nanc al Impact of Asset Management
Artefacts:
· Env ronmental Impact Plan
· Soc al Development Plan
· Sk lls Development Plan
· F nanc al Plan
· Asset Management Strategy and Pol cy
Related Subjects:
· Asset Informat on Management
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Management of Change
Def n t on:
An organ zat on’s processes for the dent f cat on, assessment, mplementat on and commun cat on
of changes to people, processes and assets.
Context:
Management of Change descr bes pol c es and processes for deal ng w th changes to phys cal
assets the r management systems or support ng resources. Th s subject also ncludes elements of
m t gat ng the mpacts of change.
· Development of Change Management pol c es
· Development of Change Management processes
· Execut on of Change Management Processes
Artefacts:
· Documented Management of Change Process
· Change Management Reg ster
· Change Management Plan
Related Subjects
Standards:
· None Ident f ed

Engl sh Vers on
Asset Performance and Health Mon tor ng
Def n t on:
The processes and measures used by an organ zat on to assess the performance and health of ts
assets us ng performance nd cators.
Context:
Asset Performance and Health Mon tor ng typ cally nclude the follow ng elements:
· Def ne cr t cal measures across all of the asset l fecycle stages that clearly l nk to the
organ zat onal object ves;
· Establ sh mon tor ng programs for the evaluat on of performance measures, analys s of
outcomes and the use of th s nformat on for management dec s on mak ng and act on
plans;
· Establ sh clear cr ter a for understand ng when there s a dev at on of the asset from the
requ red level of performance;
· Establ sh processes that prov de essent al nformat on to determ ne whether the asset s
perform ng n accordance w th ts management pol c es, standards, strateg c plans,
procedures, object ves and performance targets;
· Establ sh process for mon tor ng, measur ng and evaluat ng the performance of the asset
across all stages of the l fecycle;
· Mon tor asset performance aga nst the prescr bed cr ter a and dent fy where there are
dev at ons between the des red level of performance and the current level of performance;
and
· Establ sh mon tor ng and report ng that allows for the pred ct on of future asset
performance and health.
Artefacts:
· Asset Performance Reports
· Asset Health Reports
· Asset Performance Object ves
· Asset Health Object ves
Related Subjects:
· Asset Management Systems Mon tor ng
Relevant Standards:
· None Ident f ed

Engl sh Vers on
Asset Management System Mon tor ng
Def n t on:
The processes and measures used by an organ zat on to assess the performance and health of ts
Asset Management System.
Context:
Asset Management System Mon tor ng s concerned w th assess ng the performance of or
organ zat on’s Asset Management System - as opposed to the performance of the assets and
asset systems wh ch s covered by the subject: Asset Performance and Health Mon tor ng. Note,
Asset Management System s the management system used to manage an organ zat on’s assets
and not the Asset Informat on System(s) wh ch s d scussed as a separate subject.
The pr mary a m of Asset Management System Mon tor ng s to evaluate the extent to wh ch the
Asset Management System s f t for purpose and s that the organ zat on s del ver ng ts Asset
Management object ves. There are three key aspects to Asset Management System Mon tor ng:
· An assessment as to whether the Asset Management System s f t for purpose.
· An assessment of the extent to wh ch the organ zat on s follow ng the processes,
dec s on-mak ng cr ter a and other gu dance that s def ned w th n the Asset Management
System; and
· An assessment as to whether the outcomes from the processes, dec s on-mak ng cr ter a
and other gu dance are n l ne w th the expected outcomes. Th s s l kely to nclude the
cons derat on of asset performance (as d scussed n the Asset Performance and Health
Mon tor ng subject) as well as the evaluat on of process performance and the performance
of the people nvolved n runn ng the Asset Management System.
These aspects are typ cally assessed by a comb nat on of assurance processes and aud ts.
Artefacts:
· Asset Management Steer ng Group meet ngs
· Management Rev ew Meet ng m nutes
Related Subjects:
· Asset Performance and Health Mon tor ng
· Management Rev ew, Aud t & Assurance
Relevant Standards:
· Clauses 9.1, 9.2 & 9.3 of ISO 55001

Engl sh Vers on
Management Rev ew, Aud t & Assurance
Def n t on:
An organ zat on’s processes for rev ew ng and aud t ng the effect veness of ts asset management
processes and asset management system.
Context:
Management Rev ew Aud t & Assurance descr bes pol c es and processes for nternal assurance
processes, aud t pol c es and procedures, nternal and th rd party aud ts, processes for rev ew ng
aud t f nd ngs and correct ve act ons and the use of external benchmark ng.
· Development of Aud t Pol c es
· Development of Aud t Processes
· Execut on of Aud t Processes
Artefacts:
· Aud t pol cy
· Documented aud t procedures
· Aud t schedule
· Documented aud t methodolog es
· Documented aud t results
Related Subjects:
· Assets Performance & Health Mon tor ng
· Asset Management System Mon tor ng
Standards:
· ISO 19011:2011 - Gu del nes for aud t ng management systems

Engl sh Vers on
Asset Cost ng & Valuat on
Def n t on:
An organ zat on’s processes for def n ng and captur ng ‘as bu lt’, ma ntenance and renewal un t
costs and the methods used by an organ zat on for the valuat on and deprec at on of ts assets.
Context:
Asset cost ng s the structure/framework that def nes the compos t on of all costs related to an
asset. Asset Valuat on refers to account ng or econometr cs rules that allow the value est mat on
or pred ct on for assets over the r l fecycle through the var at on of Asset Cost ng over ts operat ng
l fe hor zon. Asset Cost ng makes the assets’ decompos t on of an organ zat on (asset portfol o of
nd v dual assets and asset systems) and the account ng decompos t on match.
Artefacts:
· Expend ture reports
· Asset valuat on reg ster
· Documented valuat on methodology
· Documented cost ng processes
Related Subjects:
· Data & Informat on
Relevant Standards:
· Relevant account ng standards
· None Ident f ed

Engl sh Vers on
Stakeholder Engagement
Def n t on:
The methods an organ zat on uses to engage w th stakeholders.
Context:
Stakeholder Engagement descr bes pol c es and processes for scenar o development, dent fy ng,
commun cat ng and nteract ngw th Asset Management stakeholders.
· Development of Stakeholder Pol c es
· Appl cat on of Stakeholder Processes
· Execut on of Stakeholder Processes
· El c tat on of Stakeholder Requ rements
Artefacts:
· Documented stakeholder analys s
· Stakeholder management plan
· Documented stakeholder scenar os for approval
Related Subjects
· Demand Analys s
Standards:

Engl sh Vers on
7 Append x A: Asset Management Concept Models
Example conceptual models from three of GFMAM’s member organ zat ons are shown below.
The IAM Conceptual Model for Asset Management

Engl sh Vers on
Asset Management Counc l “Asset Capab l ty Concept Model”

Engl sh Vers on
EFNMS Conceptual Model for Asset Management

Engl sh Vers on
8 Append x B: Landscape Rev ew
8.1 Rev ew Process
The rev ew process cons sted of the follow ng stages:

· Development of descr pt ons of each Subject by mapp ng the Landscape Subjects to the
Fundamentals def ned n the ISO 55000 ser es of standards at a Strateg c, Tact cal and
Operat onal Level;
· Analys s of these descr pt ons to dent fy the Act on, Object, Artefacts and Qual f ers for
each Subject;
· Rev ew of these descr pt ons to remove or reallocate statements that d d not al gn w th the
Subject head ng;
· Independent rev ew of the output from the above stages by a Lead Rev ewer;
· Def n t on of cr ter a to assess the val d ty of a Subject; and
· Rev ew of the Subjects aga nst these cr ter a and propose changes to the Subjects.
8.2 Cr ter a
The cr ter a that were def ned to dec de what const tutes a val d Subject were as follows:
A. The Subject should be of nterest to the asset management doma n;
B. The Subject should conta n at least one clear concept;
C. The Subject should conta n concept(s) that are mutually exclus ve to other Subjects;
D. The Subject should descr be where poss ble a system or ser es of processes. Artefacts are
not n themselves suff c ent to be a Subject;
E. Subjects can cover what/why n one Subject and how n another; therefore Subjects are not
requ red to have all dec s on mak ng levels n that Subject;
F. The Subject should not conta n more than one ma n concept / process / capab l ty; and
G. The Subject should be cons stent w th the ISO 55000 ser es of standards.
8.3 Subject Descr ptors
A Subject descr ptor page has been produced for each Subject wh ch s ntended to help the
understand ng the def n t on and scope of each Subject. Each of these Subject descr ptors covers
the follow ng tems:
· The def n t on of each Subject;
· A context statement for each Subject;
· The artefacts that would typ cally be produced for each Subject;
· Key relat onsh ps w th other Subjects; and
· Any relevant standards.
These Subject Descr ptors are shown n Append x 1.

Engl sh Vers on
9 Append x C: GFMAM Asset Management Landscape Subjects F rst

and Second Ed t on
The output from the rev ew s descr bed n the table below show ng the subjects from the f rst
ed t on of the Landscape and the changes n th s Second Ed t on and the rat onale for these
changes.
New
Ref Landscape First Edition Subject Landscape Second Edition Subject Rationale for change
Ref
1 Asset Management Policy Asset Management Policy 1 No Change

Asset Management Strategy &
2 Asset Management Strategy 2 No Change
Objectives
3 Demand Analysis Demand Analysis 3 No Change
4 Strategic Planning Strategic Planning 4 No Change
Subject should describe the activity not the
5 Asset Management Plan Asset Management Planning 5
output
Capital Investment Decision- Capital Investment Decision-
6 6 No Change
Making Making
Operations & Maintenance Operations & Maintenance
7 7 No Change
Decision-Making Decision-Making
Whole-life Cost & Value Change name to Lifecycle Value Realisation
8 Lifecycle Value Realisation 8
Optimisation to align with ISO
Resourcing Strategy & Name change to eliminate optimisation
9 Resourcing Strategy 9
Optimisation from Subject name
Shutdowns & Outage Strategy & Name change to eliminate optimisation
10 Shutdowns & Outage Strategy 10
Optimisation from Subject name
Include in Lifecycle Value Fails criterion C - therefore combine with
11 Aging Assets Strategy
Realisation Lifecycle Value Realisation
12 Technical Standards & Legislation Technical Standards & Legislation 11 No Change
Asset Acquisition & Name change to better describe delivery
13 Asset Creation & Acquisition 12
Commissioning activities
14 Systems Engineering Systems Engineering 13 No Change
15 Configuration Management Configuration Management 14 No Change
16 Maintenance Delivery Maintenance Delivery 15 No Change
17 Reliability Engineering Reliability Engineering 16 No Change
18 Asset Operations Asset Operations 17 No Change
19 Resource Management Resource Management 18 No Change
Shutdown & Outage
20 Shutdown & Outage Management 19 No Change
Management
21 Fault & Incident Response Fault & Incident Response 20 No Change
Asset Rationalisation and Asset Decommissioning and Name change to better describe delivery
22 21
Disposal Disposal activities
23 Asset Information Strategy Asset Information Strategy 22 No Change
24 Asset Knowledge Standards Asset Information Standards 23 Name change for better consistency

Engl sh Vers on
New
Ref Landscape First Edition Subject Landscape Second Edition Subject Rationale for change
Ref
25 Asset Information Systems Asset Information Systems 24 No Change

26 Asset Data and Knowledge Data & Information Management 25 Name change only
Procurement & Supply Chain
27 Contract & Supplier Management 26 Name change to align with ISO terminology
Management
28 Asset Management Leadership Asset Management Leadership 27 No Change
Organizational Structure &
29 Organizational Structure 28 Fails criterion F - therefore split out culture
Culture
Fails criterion F - therefore split out culture
Organizational Culture 29
and combine with behaviour
Fails criterion F - therefore split out
30 Competence & Behaviour Competence Management 30
behaviour which is part of Culture
Criticality, Risk Assessment and
31 Risk Assessment and Management 31 Name change only
Management
Contingency Planning & Contingency Planning & Resilience
32 32 No Change
Resilience Analysis Analysis
33 Sustainable Development Sustainable Development 33 No Change
Fails criterion C - therefore combine with
34 Weather and Climate Change Include in Risk Assessment
Risk Assessment & Management
Asset & Systems Change
35 Management of Change 34 Name change only
Management
Assets & Systems Performance & Assets Performance & Health
36 35 Fails criterion F - therefore split into two
Health Monitoring Monitoring
Asset Management System
36 Fails criterion F - therefore split into two
Monitoring
Management Review, Audit & Management Review, Audit &
37 37 No Change
Assurance Assurance
38 Accounting Practices Asset Costing & Valuation 38 Name change only
39 Stakeholder Relations Stakeholder Engagement 39 Name change only

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The Asset

The Global Forum on Ma ntenance and Asset Management

The endur ng object ves of the GFMAM are:

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2 Purpose of the Landscape, Second Ed t on

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3 Overv ew of the Landscape

D agram 1: Asset Management Landscape

3.1 The Core

It s essent al to note that th s s an arb trary d v s on of the d sc pl ne nto nd v dual

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3.2 The Knowledge and Pract ces Area

3.3 The Support ng Area

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4 Components of the Knowledge and Pract ces Area

4.1 Conceptual Models

4.2 Competence Frameworks

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4.3 Asset Management Tra n ng Courses

4.4 Asset Management Qual f cat ons

4.6 Assessment Methods and Awards

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5 Asset Management Fundamentals

Value: Assets ex st to prov de value to the organ zat on and ts stakeholders.

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6 GFMAM Asset Management Landscape Subjects, Second Ed t on

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Asset Management Pol cy

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Asset Management Strategy

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Asset Management Plann ng

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Cap tal Investment Dec s on-Mak ng

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Operat ons & Ma ntenance Dec s on-Mak ng

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L fecycle Value Real sat on

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Shutdown and Outage Strategy

The Shutdown and Outage Strategy would typ cally nclude:

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Techn cal Standards & Leg slat on

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Asset Creat on & Acqu s t on

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Systems Eng neer ng

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Conf gurat on Management

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Ma ntenance Del very

These act v t es nclude:

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Rel ab l ty Eng neer ng

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Shutdown and Outage Management