{"id":9818,"date":"2025-03-25T08:58:29","date_gmt":"2025-03-25T14:58:29","guid":{"rendered":"https:\/\/limblecmms.com\/?p=9056"},"modified":"2025-05-30T12:58:29","modified_gmt":"2025-05-30T18:58:29","slug":"policy","status":"publish","type":"post","link":"https:\/\/limblecmms.com\/blog\/policy\/","title":{"rendered":"What is An Asset Management Policy?"},"content":{"rendered":"

[vc_row kd_background_image_position=”vc_row-bg-position-top”][vc_column][vc_column_text]Let’s be honest. Written policies can sometimes feel useless.\u00a0 But if written and executed well, an asset management policy can bring clarity and efficiency to your organization.\u00a0<\/span><\/p>\n

Assets are resources owned and used by a company to generate a positive economic benefit.\u00a0<\/span><\/span>As a business owner, it is important to know which assets you own, their location, and their value. Your shareholders would also like to know that company assets are being efficiently used and maintained.<\/span><\/p>\n

A good asset management policy helps create the structure for how they are handled. Let\u2019s see how.<\/span><\/p>\n

Why do you need an asset management policy?<\/span><\/h2>\n

An asset management policy is an overarching, high-level document that helps businesses meet their governance, quality, and strategic needs.\u00a0<\/span><\/p>\n

It dictates how a business maintains the integrity and availability of all assets <\/span>by outlining the company’s requirements for asset ownership, categorization, acceptable use, and ongoing maintenance<\/b>.\u00a0<\/span><\/p>\n

In a large organization, the hierarchy of documents begins with the organization’s strategic plan, which prompts the development of an asset management policy.\u00a0<\/span><\/p>\n

Beneath the policy sits an asset management strategy<\/a>. Beneath the strategy, you can find a\u00a0<\/span>general maintenance policy<\/span><\/a> and asset management plans<\/a>, with the final documents being operational strategies and plans.<\/span><\/p>\n

\"The<\/a><\/p>\n

However, small to medium-sized organizations often combine the asset management policy, strategy, and plan into one document. It is this level of asset management policy we will be discussing here.<\/span><\/p>\n

The document assists all employees by:<\/span><\/p>\n