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Asset management policy

What is an Asset Management Policy?

An asset management policy is a framework that sets out core principles and strategies for managing assets efficiently. It’s not just a compulsory step for getting the ISO 55001:2014 certification—it’s a blueprint for streamlined decision-making. Essential elements in crafting an outstanding policy for CMMS include:

Why is a Robust Asset Management Policy Critical?

Implementing a cohesive asset management policy is vital for companies striving to meet ISO 55001 standards and enhance operational efficiency. With a well-structured policy, you can:

Establishing a clear policy elevates your CMMS strategy and reinforces your pledge to exceptional asset management practices internally and to stakeholders.

Drafting an Effective Asset Management Policy with CMMS

Crafting an impactful asset management policy involves four main parts: Intent, Scope, Principles, and Responsibilities. The document should be straightforward, clear, and accessible to all readers.

  1. Intent: Outline your goals and the intended outcomes, grounded in the organizational mission.
  2. Scope: Define the assets, services, and units the policy addresses, eliminating ambiguities and fostering accountability.
  3. Principles: Provide a direction on applying asset management best practices, crucial for sound decision-making.
  4. Responsibilities: Detail who is accountable for implementing the policy and leading its adoption.
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