Asset Management Plan definition

Asset Management Plan means a strategic document that states how a group of assets are to be managed over a period of time. The plan describes the characteristics and condition of infrastructure assets, the levels of service expected from them, planned actions to ensure the assets are providing the expected level of service, and financing strategies to implement the planned actions. The plan may use any appropriate format, as long as it includes the information and analysis required to be in a plan as described in Ontario’s Building Together: Guide for Asset Management Plans.
Asset Management Plan means a plan created by the department and approved by the state transportation commission or a plan created by a local road agency and approved by the local road agency's governing body that includes provisions for asset inventory, performance goals, risk of failure analysis, anticipated revenues and expenses, performance outcomes, and coordination with other infrastructure owners.
Asset Management Plan means a systematic management technique for utility systems that focuses on the long-term life cycle of the assets and their sustained performance, rather than on short-term, day-to-day aspects of the assets. This plan includes the identification of and costs for rehabilitating, repairing, or replacing all assets as well as the schedule to do so. The requirements for asset management plans are in Subsection 62-503.700(7), Florida Administrative Code.

Examples of Asset Management Plan in a sentence

  • Performance measures such as cost and time predictability as outlined in the Asset Management Plan are used to assist in the evaluation and targets set for improvement.

  • The Council will develop and implement an Asset Management Plan for the Centre.

  • IDOT Transportation Asset Management Plan is available online for review.October 30, 2018 there will be a Safety Summit; Mr. DeLille indicated he doesn’t have any other information but he will forward to members as more information comes in.IDOT released a notice of funding opportunity for FY2019 and FY2020 Local Rail-Highway Grade Crossing Safety Program.

  • This establishes the necessary links between service planning arrangements and local priorities.Asset Management 2.29 The Council’s updated Asset Management Plan (AMP) has identified the following areas where progress is planned: (i) Backlog Maintenance - The AMP identified a total five-year backlog of£4.6m on its corporate property portfolio.

  • The management of energy consumption is being tackled as part of the Asset Management Plan.

More Definitions of Asset Management Plan

Asset Management Plan means the Council’s plan containing details relating to the Council’s Assets.
Asset Management Plan means a plan under which the water companies operate for a five year period;
Asset Management Plan means the asset management plan, including any amendment to it, approved under clause 53.
Asset Management Plan or “AMP” means the running inventory of the purchase price, depreciation status, and probable replacement cost, and long-term planned replacement schedule of the Project’s durable capital as set forth in Section 3.3.B.
Asset Management Plan means the Distributor’s five year plan of capital expenditure, maintenance priorities and system development requirements in respect of the Distributor’s Equipment and the Distribution Network;