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Capital Project Prioritization
BPA’s renewed focus on asset management, grounded in the Institute of Asset Management and ISO 55000 principles and practices, required adjustment of the capital project prioritization process previously implemented.  While the SAMPs are not far removed from the previous asset strategies, BPA had not previously developed asset plans.  To be useful, asset plans must describe the investments and other asset management efforts to be undertaken in sufficient detail.  That requires prioritization be integrated within the asset plan development process.  In developing asset plans, each asset category utilizes a value-based analytical methodology to prioritize investments.  This prioritization occurs within the funding constraints of the IPR and BPA’s Financial Plan.