The Asset Management Council has released a technical publication titled ‘Framework for Asset Management Body of Knowledge’ to provide a common asset management language for better communication within organisations and across industries.
The publication discusses key asset management elements including demand management, systems engineering, configuration management, acquisition, operations and maintenance, continuous improvement, business management, and culture and leadership.
“Our publication aims to provide the asset management community with a concise picture of the principles, concepts and processes of physical Asset Management,” explains John Hardwick, Chairman for the Asset Management Council.
“We brought together the best technical asset management professionals within Australia to establish the publication. Collectively, we want the publication to provide the best opportunities for individuals and organisations to build their asset management capabilities.”
The publication comprises three strategic components:
- Definition of Asset Management: Defines the boundaries of Asset Management and differentiates it from other key management processes.
- Capability Concept Model: Presents the basis of successful asset management.
- Capability Delivery Model: Schematically presents processes, within a number of disciplines, that may be used in part or entirety, to deliver successful asset management.
“This publication provides an intellectual framework and context through which information about asset management can be developed and universally understood,” further explains Deryk Anderson, one of the crucial Technical Contributors for the publication.
“The whole life systems thinking and aerospace origins of the framework makes it relevant and adaptable to all physical asset based industries; from parks and gardens through to complex metro rail systems to high end petrochemical and nuclear applications,” said Jim Kennedy, another Technical Contributor for the publication.
‘Framework for Asset Management Body of Knowledge’ is one in a suite of fourteen technical publications that will be rolled out over the next five years by the Asset Management Council.
Members are able to download this document from the members only section, under technical publications. A hard copy is available for purchase from the online store. For more information please contact admin@amcouncil.com.au.