You should have an asset management plan
The DfE's education estates strategy sets out that all schools should be meeting the school estate management standards (at least level 1, or 'baseline').
To meet the standards, you must have an asset management plan.
The plan should align with your estate vision and strategy
Your estates vision should be a high-level statement aligned with your educational vision. It provides the direction for the estate and sets out what needs to happen in the estate in the medium to long term.
Your estates strategy should set out what you need to do with the estate to achieve the estate vision. It’s a 3 to 5 year medium to long term strategy designed to:
This is explained in the DfE's guidance