Transport for Buckinghamshire Asset Management Strategy 2021
Asset Management framework
The Highways Infrastructure Asset Management (HIAM) policy and this HIAM strategy form part of the Highway Infrastructure Asset Management Framework that is accredited to ISO55001 (the International Standard for Asset Management).
The framework maintains a clear line of sight from the objectives outlined in the council’s Strategic Plan to the works programmes implemented and delivered each year as part of the Business Planning and delivery processes. The Framework reflects the 4 themes of the ISO55001 standard:
- Continual Improvement
The council’s Strategic Plan (2020 to 2023) sets the council’s 4 main aims and a number of corporate objectives supporting those aims.
This Strategic Plan and the council’s Directorate Plan for Communities together with Ringway Jacobs’ corporate Asset Management Policy and Strategy inform TfB’s ‘Our Plan’ which serves as a go-to guide, a mission statement and the teams directory – not just for TfB but for our stakeholders, supply chain and valued Members.
These 5 contextual documents inform the Asset Management Policy which establishes what the organisation is setting out to do and aligns with the overarching Strategy, which describes how the Policy will be achieved. A series of aligned Asset Plans come from the Strategy leading ultimately, to the works activities specifically planned to deliver the organisation’s objectives.
Enabling plans and frameworks, particularly the Communications Strategy and Plan and Performance Management Framework, ensure the organisation is aware and can contribute to achievement of the objectives. Similarly, Stakeholders are kept informed of progress and achievements.
Finally, governance arrangements ensure the Asset Management Framework will be successful in delivering the objectives and embeds processes to promote continual improvement in the operation of the organisation.
The effectiveness of this Asset Management Framework is continually monitored through an internal audit programme against the requirements of ISO55001. Non-conformance against the standard will result in a corrective action being raised and an appropriate owner assigned to maintain the effectiveness of the Asset Management System.