The Asset Journal is the Asset Management Council’s official publication.

Commencing in 2007, this quarterly Journal continues to cover the latest asset management and maintenance topics for its members and the wider asset management and maintenance community. It contains technical articles, tutorials, informal articles about current issues in asset management, chapter news, and updates from the CEO and Chairman.

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From the Editor-in-Chief

The Asset Journal, Volume 12, Issue 3

EKrauss

The media are full of speculation value and benefit of disruptive Technology and Changes that will improve every aspect of our lives, personal or in Business. We certainly see many signs of ‘digital interruption' to the ‘Status Quo' of Business as usual. My observation is that Industry is still struggling to understand how a "Digital Twin" (a rather disingenuous description of Asset visualisation) can be integrated into day to day Business. To successfully integrate digital business ideas into the Business and Industrial Landscape, deep reaching changes to processes and procedures are required.

Analogous to this digital revolution, the Asset Management Systems Standard, ISO 55001 series, has similar deep reaching impact. We hear about some real notable success stories from Industry and Public Utilities where the concepts and requirements of the Asset Management Standard have led to better outcomes. To successfully implement an Asset Management System, courage and commitment across all functions of an Organisation are required. In observing uptake and implementation of an Asset Management System I see many that are only looking at parts of a full System implementation, possibly thinking that a partial implementation of such a system will yield good results that are sustainable. The incomplete understanding of an Asset Management system requirement and the new challenges of the Internet of Things and the advent of Digital Business and Industry possibly compound the uncertainty of what transformation will be best for an Organisation.

A systemic and systematic analysis of a Businesses strategic direction is generally a good start to identify what really matters and what can be claimed as the best return on the investment in Digital systems and in Asset Management. With new approaches to collecting data and commuting power supporting different and better analyses, new insights are gained. Asset Management potentially receives a boost though disruptive and new technology, becoming a catalyst for significant deep changes. What is your experience in implementing new technology that enables creation of a better foundation for decision making across the Business and Asset life cycle?

Many questions will come up in the discussion about disruption though considering different approaches to existing issues and problems. We welcome your sharing of experiences and success stories in combining Asset Management with Digital concepts to create better ways of creating, managing and using the Assets. As always, welcome your feedback and ideas either through a Letter to the Editor publications@amcouncil.com.au or feedback on our website www.amcouncil.com.au.

Ernst Krauss

Editor in Chief 

theasset@amcouncil.com.au 

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