Measure your current organisational Asset Management capability.
Asset Management Maturity Model
The AM Council Asset Management Maturity Model (AMMM) ensures a consistent applied tool for maturity assessment that enables effective performance benchmarking.
The AMMM allows organisations to assess their maturity level and help them on their journey to excellence. The outcome of the assessment is a rigorous analysis that identifies performance gaps and strengths across a range of domains, including some ISO 55001 sections. The assessment will also help organisation benchmarking their performance nationally, and internationally, to guide them on their maturity path.
The AMMM model is aligned to AMBoK aims and objectives and is grounded in applied theory designed to further the understanding of asset management as a professional discipline and developed through consultation with industry stakeholders.
The model has been developed for industry, by industry.
Why a Maturity Assessment?
A maturity assessment enables companies to assess and benchmark their asset management systems and performance against best practice.
There are several drivers that have been recognised in the growing movement for companies to undertake a maturity assessment, including:
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- Introduction of ISO55000 series Standard requiring companies to define level of ‘asset management maturity’.
- Greater focus across industry on asset management over the plant lifecycle given the current economic climate
- Greater emphasis on due diligence relating to infrastructure financing, public investment, industry regulation and insurance
- Providing an assessment framework for regulatory review of pricing submissions (Regulated industries)
- Affording legal protection in the event of safety, environmental or financial issues
- Government moves to mandate requirements for public sector agencies to assess respective asset management maturity
Why an AM Council Maturity Assessment?
An AM Council Maturity Assessment provides a number of benefits, including:
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- Can be utilised across any industry–other programs are industry specific.
- The AMMM views the entirety of an asset management system from a holistic management perspective, not just a focus on operations.
- Aligned to the ISO55000 series standard and AMBoK aims and objectives.
- Benchmark performance based on history of collected data across industry
- For the full-service model, ability to provide strategic advice on target areas for asset management systems development and productivity improvement from highly qualified and professionally recognised individuals (CFAM certified). Provides confidence in the competence of assessors.
- Independence and credibility of the AM Council as a representative professional development body –no commercial interest.
- Links with the global asset management community.
The AMMM enables effective performance benchmarking – internal year-on-year, and against other like industry players.
Industry benchmarking is an enabler for:
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- Company assessment of current asset management systems and management approach and continued performance improvement.
- Continued infrastructure investment attraction, and project financing, or other commercial advantage, based on reliable performance measurement standard (benchmarking).
- Providing an assessment framework for regulatory review of pricing submissions (Regulated industries).
- Affording legal protection in the event of safety, environmental or financial issues.
- Setting of insurance premiums.
Maturity Assessment Levels
Maturity Assessment levels offered under the AMMM include:
- Self-assessment (Light)
- Self-assessment + comparison to like companies (benchmarking)
- Full assessment (assessment by CFAM assessor/s + facilitated strategic discussion)
1 Light assessment |
2 Light assessment with benchmarking |
3 Full assessment with CFAM review |
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| In this assessment the organisation will answer an online questionnaire, the outcome of this assessment will be | In this assessment the organisation will answer an online questionnaire, the outcome of this assessment will be | In this assessment the organisation will answer online questionnaire, this questioner will then be followed by two CFAM level assessors, to verify the answers and assess the organisation on site. The outcome of this assessment will be | |
| Score shows the organisation asset management maturity level within the 10 asset management system elements | ✔ | ✔ | ✔ |
| Benchmark of the organisation maturity level to others in the same industry and other industries | x | ✔ | ✔ |
| Report that highlights the strengths and opportunities of the organisation, and an executives briefing on the final day of the assessment. | x | x | ✔ |