Print Email Facebook Twitter Asset planning performance measurement framework Title Asset planning performance measurement framework Author Arthur, D. Hodkiewicz, M. Schoenmaker, R. Muruvan, S. Faculty Civil Engineering and Geosciences Department Structural Engineering Date 2014-12-31 Abstract The international asset management standard ISO 55001, introduced in early 2014, outlines the requirement for an effective Asset Management System. Asset Management practitioners are seeking guidance on implementing one of the key requirements of the standard: the “line of sight” between the Corporate, Asset Management objectives and its relevant performance measures. This alignment ensures regulatory compliance, improved communication, informed asset investment decisions, managed risks and increased operational effectiveness. This paper demonstrates that a ‘line of sight’ is achievable through the application of the Balanced Scorecard approach using the Asset Management function at the Water Corporation as an example. The approach is deployed across two phases: the development of Asset Management Objectives through a consultative Asset Strategy Mapping exercise; and the selection of a balanced set of performance measures that link to the Strategy Map. The result of this approach is the creation of the ‘Asset Planning Performance Measurement Framework’. This framework is tested using water utility data resulting in the realisation of a ‘line of sight’ between asset performance measures and corporate objectives. To reference this document use: http://resolver.tudelft.nl/uuid:45ebeb8f-5004-4b72-b664-2e8a2cf3b10e Publisher Cooperative Education for Enterprise Development (CEED) Source CEED Seminar Proceedings 2014, Crawley, Australia, 24-9-2014 Part of collection Institutional Repository Document type conference paper Rights (c) 2014 CEED Files PDF 317374.pdf 536.1 KB Close viewer /islandora/object/uuid:45ebeb8f-5004-4b72-b664-2e8a2cf3b10e/datastream/OBJ/view