What cadence should emphasize continual improvement in an Asset Management Policy review?

• A. It is a one-time event.
• B. It should be infrequent.
• C. It should be regular with continual improvement.
• D. It should be dictated by external auditors.

Answer: (C)

Continual improvement is built into how asset management works: policies and practices should be reviewed and refined as performance data, risks, and business needs evolve. The best cadence is regular and systematic, with the explicit aim of driving ongoing improvement. A one-time event misses new risks, opportunities, and changes in objectives, while making the review infrequent delays responses to changes in technology, regulations, or performance gaps. External audits can provide input, but they do not determine the schedule; the organization should set a planned interval for policy review and use the findings to update the policy and allocate resources accordingly. In practice, reviews are conducted at planned management intervals and triggered by significant changes, ensuring the policy remains suitable, adequate, and effective.