A LTMP is long-term strategic plan with systematic and coordinated set of activities and practices for managing a defined group of structural items or facilities at the lowest cost-effective life-cycle cost , through effective life cycle management from acquisition, to maintenance, renewal and replacement with a focus to retaining an item’s expected uninterrupted operating level and standard.
Fortunately we do not have to re-invent the wheel.
LTMP has been a worldwide best practice and has proven to be the most effective and efficient way to achieve maximum value at minimum cost.
A LTMP properly constructed and implemented will deliver
- maximum cost efficiency
- Minimize breakages
- Minimize unplanned expenses
- Maximize ability to plan and provision for expenses
- Maximize value through informed decision-making
The basic components of a LTMP
- Infrastructure framework
- Financial framework
- Activity framework
There is a specific stepped process for constructing and succesful LTMP and in the next publication will we introduce the next steps that must be followed