AM Framework: Optimization

AM Framework Miniseries - Reloaded

Previous articles in this Asset Management (AM) Framework miniseries provided an Overview, Context, and detailed its parts, that is its Management Activity Groups or MAGs #0, #1, #2, #3, #4, #5, #6, #7), and introduced foundational concepts for Alignment, Objectives & Requirements, and Investment Decision Making.  This article begins the conclusion of the miniseries.  It covers operationalization of the AM Framework that starts with an introduction of the concept of Asset Management System (AMS) Optimization.

The Asset Management is All About Outcomes article explains that the purpose of an AMS is value generation.  As detailed in the Asset Management Paradox and Managing Assets in the Context of Asset Management articles, an AMS generates value through the coordination of activities that manage assets.  From this perspective, the act of optimization distills to configuration of AMS defined management controls.  The AM Framework’s role in this is it defines the logic behind this config…