Getting consistency between asset planning and asset operation

It is now standard practice to consider a risk-based approach to prioritising asset renewals; but are we connecting this thinking to other phases of the asset lifecycle? In particular, are we connecting this thinking to maintenance management?

If our method of prioritising renewal works uses a different approach to how we rank maintenance works a misalignment can result. The amount of misalignment between the thinking we apply to Asset Management Planning and how we think about Asset Management Operations will vary from one organisation to another.

Currently it is rare for a single prioritising tool to be used for both renewal planning and operation and maintenance management. Yet the asset data set and overall objective is the same for both activities. The common goal, whether planning for renewals or managing maintenance is to provide agreed levels of service at least cost in a sustainable way.

Applying the same thinking process and getting connection between asset planning and asset operation provides a number of benefits to the organisation and it needn’t involve major change or expense.

This paper outlines a methodology that has been used to apply a risk-based approach for assets that is used for both operational and renewal planning.