AM Framework: MAG #1 - Organizational Objectives

AM Framework Miniseries - Reloaded

This article continues the AMP Asset Management (AM) Framework miniseries by providing an overview of Management Activity Group (MAG) #1 – Organizational Objectives.  This AM Framework is shown below and introduced in earlier newsletters titled AM Framework Overview & History and AM Framework Context.

Asset Management Framework

Overview

Organizational Objectives are Key Performance Indicators (KPIs) for organizational success.  In ISO 55000 standards, the word objective means a “result to be achieved”.  Organization means a “person or group of people that has its own functions with responsibilities, authorities, and relationships to achieve objectives“.  Integrating these definitions, Organizational Objectives are things the organization needs to accomplish for it to be successful.

MAG #1 evaluates the organization’s operating context developed in MAG #0 and identifies factors, criteria, and assurances important to the organization’s success.  Important issues and leading KPIs are develop…