An asset management plan merges an organization's strategic plan and asset policies into a long-term action plan.

More formally, a Strategic Asset Management Plan (SAMP) is a planning tool that clarifies intentions, priorities, and practices. A SAMP considers the combination of organizational needs, customer expectations, the realities of existing assets, and organizational capacity.

Developing a SAMP requires cross-function and cross-department collaboration. Because a SAMP takes a long view, it often conflicts with short-term objectives. The focus on documentation, standard processes, and integration creates additional challenges for plan developers.

This session will provide tips, tricks, and pitfalls to avoid when facilitating Strategic Asset Management Plans. Some of the key learning objectives are:

• Understand challenges associated with SAMP development.

• Apply best practices for SAMP development.