Linking Life Cycle Strategies to Asset Management Policy
Agency policies influence the types of decisions that are made within an agency and the priority with which activities are funded. The life cycle management approach selected for each asset class will impact the type of policies, procedures, and data required to support investment decisions to ensure alignment between planned and actual work activities.
Aligning the organization to support the implementation of life cycle management strategies involves many of the same types of organizational change processes discussed in Chapter 2. As part of this alignment, an agency must ensure that it has in place the processes and resources needed to deliver the work activities required for executing the selected life cycle strategies.
Chapter 2 introduced the importance of establishing Asset Management policies to help integrate asset management at all levels of an organization. An Asset Management policy can support life cycle management by establishing processes for setting realistic performance objectives and treatment strategies that focus on a commitment to sound, long-term investments. The following examples demonstrate how agencies can select a life cycle approach that supports the agency’s higher-level policies.