Policy
The Green Book, Central Government Guidance On Appraisal And Evaluation, Published by HM Treasury in 2020, suggests that policy: ‘is a statement of intent, and is implemented as a procedure or protocol and a deliberate system of principles to guide decisions and achieve rational outcomes, adopted by a governance body within an organization.’
Asset Management – an anatomy, Version 4, published by The Institute of Asset Management in July 2024, defines policy as the: ‘intentions and direction of an organization as formally expressed by its top management.’
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