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 13, Issue 1

EKrauss

Intelligent Asset Management

The topic of this issue of "The Asset" is sure to cause some discussion. The part of 'intelligent' Asset Management needs some definition in my view, as there are many ways of applying intelligence into any system. We trust that some of the articles provide further ideas about the topic than this editorial. The simplest format of Intelligent Asset Management of course is to fully understand the intent, application and limitation of a system in one's own environment and structure the underlying processes accordingly. But that does no longer satisfy today's demands as we have now the promises of multiple layers of 'intelligence' providing the Asset Management organisation with even more options to gain instant access to the status of the Assets and possibly also the Organisation.

To me the question is one of 'why', 'how much', 'what' and 'when'. There is no doubt that we require more and deeper knowledge of what goes on with and in our Assets and what the various activities and management actions and associated decision making. One thought leader on the topic of measurements, analysing and interpreting, states that there is nothing that can't be measured – it only depends on the quality of thinking to establish the criteria of why to measure something. He further says that the concept and purpose of measuring is 'a method to reduce uncertainty'. Asset Management as a subject is holistic and multidisciplinary, which by necessity introduces a high degree of uncertainty in an Asset Management System.

To reduce this uncertainty could be the aim of Intelligent Asset Management, certainly should be the intent. Through rapid advancing Technology we find ourselves at times a little overwhelmed with the emerging possibilities. The availability of ever smarter and more capable technology systems will profoundly change the way we think about Asset Management and how we manage our Assets. The challenge for Businesses is to find the right type of technology, whether it is in data gathering, analyses or interpretation and most of all the appropriate integration of the multitude of signals and data into a coherent model that truly represents our Assets, the need to reduce uncertainty and support positively the often complex decisions required.

Further ideas and thinking on this so important area of Asset Management future can be expanded on during this year's AMPEAK Conference in Perth. We look forward meeting with you there and trust that this edition of "The Asset" provides some informative views on this future defining topic. As always, your feedback is encouraged and welcome!

Ernst Krauss

Editor in Chief 

theasset@amcouncil.com.au 

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