In 2016, BPA introduced the Asset Management Key Strategic Initiative designed to bring a renewed focus to asset management. Central to the renewed focus is the intent to more closely align BPA’s asset management processes with ISO 55000 Asset Management as outlined in the Institute of Asset Management principles and practices. The key building blocks necessary to achieve that alignment are strategic asset management plans (SAMPs) and asset plans.
BPA developed the SAMPs and the asset plans in 2017 and 2018. The SAMPs represent a refinement and evolution of the asset management strategies that BPA has been producing for a number of years. They provide a medium to long-term strategic approach that aligns with the goals in the strategic plan. The more detailed and near-term asset plans follow from the SAMPs and guide asset management efforts at a more tactical level.