Asset Management Plan

An Asset Management Plan documents a utility’s AM Program, thus the Plan should be considered a set of documents and resources that guide and inform the utility’s day-to-day activities and decision-making associated with its Asset Management Program.  Continuous change is inevitable and a utility’s AM Program documentation will require review, revisions, and updates on a regular basis. We highly recommend that the utility maintain an electronic version of the AM Program documentation in a format that can be easily revised and updated.  The AM Plan will be revised over time as the AM Program is evaluated.  It’s useful to identify goals for both short-term and long-term revision processes. An action plan can identify not only what steps will be taken to develop an Asset Management Program, but also what steps are needed to revise and improve the program over time.