Case Study Library - Subject - Strategy & Planning

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Demand analysis consists of knowing and understanding the variables that make up the requirements of interested parties and the economic, social, and environmental scenarios where the organization operates, to establish a forecast for Asset Management that generates value for the organization.

Demand analysis consists of the processes that an organization uses to evaluate, analyze, and influence demands and to perform the evaluation and analysis of the capability of assets to meet demand.

IAM 2023 "Unlocking Value", Anglian Water, 2023, UK

The holistic, interdisciplinary, collaborative method, including processes, used to ensure an enduring, balanced approach to economic activity, environmental responsibility, social governance, and progress to ensure all activities are sustainable over multiple timeframes while supporting the organization’s purpose.

The Asset Management Strategy is contained in the Strategic Asset Management Plan (SAMP). It translates organizational objectives into Asset Management objectives, defines the organization’s Asset Management system and the approach to Asset Management and the organization’s assets, and describes the strategies and actions to deliver on Asset Management objectives.

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.

Assets Magazine, Roadmap to success, Utilities Kingston, 2025, Canada

An organization’s processes for the identification, planning, scheduling, execution, and control of work related to shutdowns, turnarounds, or outages (STOs).

Definitions vary across industries and organizations but generally involve lengthy planned production stoppages or reduction in operations to perform maintenance in the case of shutdowns, and refurbishment, refitting, rebuild, or upgrading in the case of turnarounds. Outages are generally unplanned interruptions of shorter duration due to factors such as power supply interruptions or equipment failures.

An STO event is measured as the period commencing from safe system shut down, hand-over for maintenance, isolation, performing the required work, system hand back to operations, to safe system start-up and restoration of required service levels. In some industries, this may also require certification before hand-back to operation, and recalibration to a larger system or network.

Contingency planning refers to the policies, plans, processes, and systems established by an organization to respond and recover from a hazard event, crisis, or disaster. This includes ensuring continuity of critical organizational functions, services, and assets during the crisis, as well as resumption of normal operations thereafter. Contingency planning is informed by the outcomes of both conventional risk management processes and resilience analysis.

Resilience analysis is a risk-based process that assesses the ability of organizations and assets to withstand disruption and disturbance, deal with crisis, adapt to changing conditions and to prosper in the longer term. There are two equally important dimensions of resilience. Asset resilience refers to the ability of the asset or physical system to perform to an acceptable level during an event. Organizational resilience refers to the ability of an organization to plan, manage, respond, and recover from an event to achieve the desired resilient outcomes.

Determining the strategies, management of activities and processes to be undertaken by an organization to engage people (internal and external), acquire and use assets (e.g., tools, equipment), materials and services to deliver its Asset Management Objectives and Asset Management Plans.

Supply Chain Management is the process used by an organization to ensure the provisioning of all equipment, tools, and resources to perform Asset Management activities are aligned with the Asset Management objectives.

The activities undertaken by an organization to ensure the best total value from investments and benefits in different physical and non-physical asset acquisition, creation, operations, maintenance, improvements, renewals, and disposals across all asset life cycle stages.

Asset Costing is the organization’s end to end process for defining, capturing, and utilizing the TOTEX (Total Expenditure) of physical assets or systems of assets throughout their life cycle. This includes the costs associated with planning, design, acquisition, construction, operation, maintenance, renewal, and disposal.

Asset Valuation is the organization’s end-to-end process for quantifying the financial value of assets in accordance with accounting standards.

The application of cost and valuation methodologies generates information and intelligence that supports decision-making in areas such as asset investments, asset life cycle optimization, improvements in return on investment, and to exercise management control to balance risk, cost, and performance.

Assets Magazine, Road to Reduction, Kristin Eklof, 2024, Sweden

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Case Study Library - Subject - Strategy & Planning