What is Asset Management?
Asset Management Defined
The International Infrastructure Management Manual defines the goal of asset management as meeting a required level of service in the most cost-effective way through the creation, acquisition, operation, maintenance, rehabilitation, and disposal of assets to provide for present and future customers.
An Asset Management Plan (AMP) is a tactical plan for managing an organization’s infrastructure and other assets to deliver an agreed standard of service. Typically, an Asset Management Plan will cover more than a single asset, taking a system approach - especially where a number of assets are co-dependent and are required to work together to deliver an agreed standard of service.
5 Core Components of an Asset Management Plan
Information above was taken from the DEQ Forms and Guidance for an Asset Management Plan, which are located on the Resource Documents page for more details.