Project Asset Management
Blog: Biz-Performance, David Brown
Purpose
Rationale
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Ensure that project property (software and documents) is physically secure at all times;
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Protect the integrity of completed deliverables;
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Ensure that work in progress is secure and backed up on a regular basis;
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Control updates made to completed deliverables;
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Ensure that the appropriate version of a deliverable is used;
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Control the release and issuance of updated deliverables; and,
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Ensure that related deliverables are kept in step.
Requirements
Asset Control Element |
Description |
Define Scope ; Requirements for Project Assets | Identifying both deliverable and non–deliverable items and their clients, then designing an appropriate organisational structure to effectively administer control and management of the identified items e.g. Hardware is a non-deliverable item required by the development team |
Develop Asset Management Plan | This is the key document produced by the asset management owner, outlining processes for how asset controls will be implemented on the project. I.e. Security procedures, project library, filing system etc |
Implement and Administer Asset Management Processes | Implementation and ongoing administration of the asset managers responsibilities. As detailed work in the asset management plan. |
Asset Management Definition and Scope
Asset Management Clients & Requirements
The asset management function will have a number of customers, each with different requirements, for example:
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Development team—need to be able to easily access correct versions of Functional Specification Requirement documents;
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Quality manager—needs to ensure procedures meet quality requirements, and are being adhered to;
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Project manager—needs status reporting, particularly on changes (e.g. predicted vs. actual cost of changes). The asset management function needs to integrate with the change control process;
Asset Management Scope
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User requirements documentation, scoping documents;
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Functional specifications;
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Acceptance test scripts/data,
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Vendor proposals (may be required for software selection projects);
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User procedures;
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Team training guides and manuals;
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Operations documentation.
Asset Management Plan Development
Asset Management Plan
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Asset management scope and objectives (with reference to documented requirements)—most of this will have been identified in task “define asset management requirements and scope”.
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The project responsibilities of the asset management function and its organisational structure;
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Asset management (and other relevant project) procedures to be adopted, and tools to be used, i.e. excel spreadsheet for library.
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The approach to auditing compliance with procedures;
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Asset management conventions to be used
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Version controls
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Naming conventions in compliance with project standards if already agreed
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Filing systems for both physical and non-physical items
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Security controls and procedures to be adhered to by project team members;
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How project deliverables are to be classified. This will normally be in functional/ sub-system groupings (e.g. General ledger, personnel sub-system) with a liaison representative or role (with deputy) identified for each functional grouping. In addition deliverables will normally be classified by deliverable type (e.g. Procedures documents)
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The approach to training project members in procedures and, where necessary, the use of tools. Training should also include education about the need for, and benefits of, effective asset management.
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A asset management implementation plan with tasks, dates and responsibilities. This should be included in the detailed work plan;
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A glossary of terms used; and
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How asset management will integrate with other functions such as project change control.
Physical security of project area
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Project team members have appropriate access privileges to all required areas;
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Storage facilities for project documentation, project management files, and work in progress are secure;
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Project team members can obtain access during non-standard work periods for out of hours testing, overtime work, and other valid reasons;
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Subcontractor personnel have appropriate access to files; and,
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Disaster recovery procedures include at least the addition of the project manager’s name to the emergency “call out list” in the event of a disaster.
Baseline Items
Version control procedures
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Draft;
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Approved,
Asset Management Process
Implementation and Administration
Asset Control Library
Asset Control | Description |
Asset ID | Unique sequential asset identifier associated with asset organisation. |
Asset Name/Title | Name of the asset conforming to the naming conventions as set out in the asset management plan |
Asset Type | Type of asset i.e. Hardware, Software, Document, Contract, Report, Plan, File etc |
Description | Brief description of the asset |
Deliverable | Indicate if the asset is a project deliverable or non-deliverable |
Status | Indicate the current status of the asset, i.e. Expired, Cancelled, In development, Awaiting Approval, Approved, or N/A in the case of physical assets such as hardware |
Version | Detail the version of the asset |
Work-stream | The Work-stream where the associated liaison has been allocated. This will normally be related to the client classification in the asset definition |
Owner | The person responsible for the asset or the assets delivery |
Date Out | The date the asset was taken out of the library |
Out With | The person who checked the asset out of the library |
Date In | The date the asset was returned to the library to confirm it’s return |
File Location | Either the physical or non-physical location where the asset is stored |
Control Reports
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version;
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date of last update;
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name of person last updating; and,
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history.
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item identification;
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name of person who has the item; and,
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date item checked out.
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Exception reports, such as items checked out for more than 30 days; and,
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Ad hoc reports.
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Comparison between hard copies of documents and the electronic copies;
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Ensure all logs are accurately maintained and the detailed documentation reflects what is recorded on the logs;
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Comparison between logs and physical project property;
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Procedure audit; and,
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Timeliness audits:
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how efficiently are requests for asset items processed?
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how quickly are completed items added to the asset control log?
Archive Project Assets
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