What does the Asset Management Strategy include?

• A. Maintenance checklists and schedules.
• B. Risk assessment frameworks for vendors.
• C. Asset management objectives, key accountabilities, decision-making criteria, asset information development, and asset network criticality.
• D. Marketing strategy and customer segmentation.

Answer: (C)

An Asset Management Strategy defines how assets will be managed across their lifecycle. It lays out what we aim to achieve with assets (objectives), who is responsible for asset decisions and actions (key accountabilities), how we decide what to do and when (decision-making criteria), what information is needed and how it will be developed (asset information development), and how critical different assets and their interconnections are within the overall system (asset network criticality). This framework provides governance for asset-related decisions and ensures alignment with organizational goals, guiding planning, budgeting, risk management, and optimization of performance and cost.

Maintenance checklists and schedules are execution tools for doing work, not the strategy that governs asset management. Risk assessment frameworks for vendors focus on supplier risk, not the strategic management of assets themselves. Marketing strategy and customer segmentation relate to market-facing activities, not asset management.