Asset Management System Policy  
Towards effective and sustainable asset management that delivers the highest added value

The Ministry's policy focused on the following:

• Registering all assets and accurately documenting data, including defining custody/ownership, operation, and safe transfer, using digital systems that support transparency and ease of traceability.  
• Protecting and maintaining assets, improving returns from them, and accurately estimating depreciation rates to maximize added value.  
• Identifying and assessing asset-related risks, taking appropriate actions to address them, and integrating them within the Ministry’s enterprise risk management framework.  
• Managing assets to achieve an optimal balance between cost, performance, and risk, ensuring the realization of sustainable long-term value.  
• Planning and managing the asset life cycle in an effective and sustainable manner (planning, acquisition, operation, maintenance, replacement, disposal) to ensure continuous economic and social value.  
• Aligning asset management with the Ministry’s strategic plans and objectives and linking it to performance indicators and institutional reports.  
• Aligning asset management with the Ministry’s strategic plans and objectives and linking it to performance indicators and institutional reports.  
• Complying with national laws and legislation and with the instructions and guidelines of relevant stakeholders, while ensuring ongoing communication and coordination with them.  
• Committing to the implementation of the ISO 55001 Asset Management System requirements and the requirements of supporting standards for asset protection, such as the Environmental Management System ISO 14001 and the OH&S Management System ISO 45001.  
• Ensuring continuous improvement of the Asset Management System and periodically reviewing it to ensure its sustainability.