Verification Planning
Once the ledger review is completed and operating metrics are agreed to, an asset verification plan is constructed that describes the verification process, and outlines responsibilities, deliverables and schedules. The plan is crafted by Lockwood and submitted to the customer for acceptance. Once accepted, the plan is used as an operations guide for the verification stage.
Prior to actually performing an asset verification, the plan drawn up by Lockwood is tested and validated. The plan is submitted to the client operational and audit personnel for review and feedback and is adjusted as needed. Then Lockwood conducts a pilot or trial of the plan using the results to further refine it.
As a matter of course, Lockwood modifies plan and its implementation record as the project evolves, thereby ensuring that a reliable historical reference record of the project is developed. The plan defines the process, methods, schedules, responsibilities as well as the final deliverable. The deliverable produces both validation of line items as well as recommended adjustments to the FAR, including but not limited to, correction of data elements such as locations, models, values, and additions and deletions of line items.