Issuer Gateway Knowledge Hub

Assessment Criteria

• Formal asset management policy

  A formal policy commitment to an asset management system.

• Formal asset management plan established.

  Evidence of an Asset Management plan.

• Managerial responsibility

  Manager is accountable to the CEO or COO or the Board of Directors.

• Awareness and training

  Awareness and training for relevant employees and/or contractors about the asset management policy and the asset management systems.

• Preventative and corrective actions

  Systems in place to identify potential failures in asset performance and perform preventive actions, and examples of corrective action to control and correct any incidents. Examples include actions to improve service reliability and safety; including but not limited to replacing aging lines, infrastructure hardening, smart grid technologies, climate change resilience and cybersecurity resilience.

• Continual improvement

  Evidence of continually improving the suitability, adequacy and effectiveness of its asset management system. Examples include, but not limited to, changing or enhancing systems to prepare for changing climate-change related events or changing demand/consumption patterns; or new asset management technologies and practices, such as development of reliability and predictive technologies during the procurement of new assets or the design of modified assets.

• Risk identification and mitigation disclosure 

  Risk identification/mitigation disclosure should cover specific risks to assets including but not limited to capacity shortage, aging assets, service reliability, probability of asset failure, asset integrity/safety, efficiency, and climate change resilience strategies.

• Disclosure of specific asset management objectives and targets
  
  Clear and measurable quantitative objectives and targets, including but not limited to asset failure targets, customer satisfaction, improving availability and reliability of the system and asset integrity and compliance targets such as meeting the requirements for safety, health and environment.

• Monitoring and measuring performance
  
  Reporting on asset performance metrics, including but not limited to quality, operational performance, operational data, reliability, quality, safety, customer satisfaction indicators.

• Regular internal or external audits
  Evidence of internal and/or external audits within the last 3 years.

• The company has a certified asset management programme that is applied to less than 50% of its operations.