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Asset Management Anatomy
A guide to asset management prepared by the Institute of Asset Management (IAM).

The document can be downloaded from the IAM website and is organized into the following chapters:

1 INTRODUCTION

2 WHAT DOES ‘ASSET MANAGEMENT’ MEAN?

3 CONCEPTS AND PRINCIPLES

4 THE SCOPE OF ASSET MANAGEMENT 

5 SUBJECTS GROUPS AND DESCRIPTIONS 

5.1 STRATEGY & PLANNING 
5.1.1 Asset Management Policy 
5.1.2 Asset Management Strategy & Objectives 
5.1.3 Demand Analysis 
5.1.4 Strategic Planning 
5.1.5 Asset Management Planning 

5.2 ASSET MANAGEMENT DECISION-MAKING 25
5.2.1 Capital Investment Decision-Making 26
5.2.2 Operations & Maintenance Decision-Making 27
5.2.3 Life Cycle Value Realisation 29
5.2.4 Resourcing Strategy 31
5.2.5 Shutdowns & Outage Strategy 33

5.3 LIFE CYCLE ACTIVITIES 35
5.3.1 Technical Standards & Legislation 36
5.3.2 Asset Creation & Acquisition 37
5.3.3 Systems Engineering 37
5.3.4 Configuration Management 39
5.3.5 Maintenance Delivery 40
5.3.6 Reliability Engineering 41
5.3.7 Asset Operations 43
5.3.8 Resource Management 43
5.3.9 Shutdown & Outage Management 44
5.3.10 Fault & Incident Response 45
5.3.11 Asset Decommissioning and Disposal 45

5.4 ASSET INFORMATION 47
5.4.1 Asset Information Strategy 49
5.4.2 Asset Information Standards 50
5.4.3 Asset Information Systems 50
5.4.4 Data & Information Management 51

5.5 ORGANISATION AND PEOPLE 52
5.5.1 Procurement & Supply Chain Management 53
5.5.2 Asset Management Leadership 54
5.5.3 Organisational Structure 55
5.5.4 Organisational Culture 55
5.5.5 Competence Management 56

5.6 RISK & REVIEW 57
5.6.1 Risk Assessment and Management 58
5.6.2 Contingency Planning & Resilience Analysis 59
5.6.3 Sustainable Development 61
5.6.4 Management of Change 62
5.6.5 Assets Performance & Health Monitoring 62
5.6.6 Asset Management System Monitoring 63
5.6.7 Management Review, Audit & Assurance 64
5.6.8 Asset Costing & Valuation 64
5.6.9 Stakeholder Engagement 66

6 DEFINITIONS 67
The Anatomy serves as one of the supporting documents for various certifications in asset management, inlcuding CAMA.
Three sets of international documents on asset management - ISO 55000, IAM Anatomy and GFMAM Landscape
Fig. Three sets of international documents on asset management - the ISO 55000 Standard, the IAM Anatomy and the GFMAM Landscape.


The three parts to ISO 55000, 55001 and 55002 - the international standard for asset managment
Fig. The three parts to ISO 55000, 55001 and 55002
- the international standard for asset managment.


Analyzing the words inside ISO 55000/55001 to reveal patterns in the requirements
Fig. Analyzing the approximate 27,0000 words inside ISO 55000/55001 to reveal patterns in the requirements.



Conceptual models provide a high-level framework for sense-making of the numerous elements of asset management and how these elements interact over asset life cycles
Fig. Conceptual models provide a high-level framework for sense-making of the numerous elements of asset management and how these elements interact over asset life cycles. Some insightful models have been developed by learned societies and organizations around the world.

See also:
  • Competency Development
  • Resourcing Plan
  • Standardization
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