This diagram describes the necessary connectivity between the overall business plan, what asset management needs to do and to deliver, right down to the level of day-to-day activities. 

The blue boxes describe this hierarchy of logical links, defining Policy (the mandatory commitments and principles), the Strategies (long term desired style and approach), Objectives (what these need to deliver) and specific Plans (who needs to do what, when and where). 

The green arrows then show the mix of actions to be applied in delivery of the asset management plans. These implementation activities, often organised in functional delivery responsibilities, are themselves directed and controlled in a hierarchy of function-specific policies, strategies and delivery processes. 

Finally, the deep red arrows on the left show the vital business values, prioritization criteria and corporate risk appetite that must be incorporated consistently into both the planning and delivery activities.

For more detail, case studies and other useful insights into the subject and how it is implemented in different environments, please go to the Asset Management Body of Knowledge (IAM members only)