Media Releases

‘Living Asset Management’ - Not Just Another Textbook

‘this book is different… the ideas presented represent a paradigm shift in thinking about asset management. Rather than the traditional approach of focusing on plant and equipment, systems and processes, this book focuses on people and the need for good leadership and strategies for developing a high performance culture which ensures excellence in asset management…’

Dr. Marlene Kanga, 2013 National President of Engineers Australia

‘Living Asset Management’ is a must read for anyone on the asset management career path, and is targeted towards those in leadership roles and senior management. Case studies are supported by theory and every anecdote is thorough and relevant. This is not just another textbook!

The authors have a combined global experience spanning some sixty years; hard won knowledge which has allowed them to identify and form a firm belief that effective asset management is a value driver for any business. It allows organisations to meet their objectives and make the best use of available resources. It’s a ‘win-win’ situation for all parties: asset managers, the organisation, stakeholders and the assets.

The collaboration between authors John Hardwick CFAM; Immediate Past Chairman of the Asset Management Council and Chairman of the Global Forum on Maintenance and Asset Management (GFMAM) and J R Lafraia CFAM; prolific writer, lecturer and President of the Brazilian Association of Asset Management and Maintenance (ABRAMAN); has brought forth the long awaited, insightful and thought provoking book ‘Living Asset Management’. A very readable volume which illuminates culture and behaviour in organisations; describes fully, asset management’s cultural stages of maturity; enlightening the reader on the role of emotions and delivering a deep perceptive understanding of leadership and management.

Mike McGrath case study: What asset management can achieve

‘...We had to make a virtue of taking an old asset and making it perform to a world-class standard… It took seven years, but the asset went from being one of the worst performing refineries in the world to being world-class for its size and shape… Reliability went up, costs per unit of production dropped by 50% over several years and the refinery’s costs also reduced substantially…’

‘…I believe this book will become a seminal text for the emerging profession and senior managers wanting to ensure their investments are a success…’

David McKeown - CEO - Institute of Asset Management UK

‘Living Asset Management’ is now available.

Announcing a Joint Venture for Certification in ISO 55001 for Asset Management Assessors

The Worldwide Partnership in Asset Management Certification

A Joint Venture for

Certification in ISO 55001 for Asset Management Assessors


‘…Since 1991 we have engaged with industry leaders and world class researchers to identify significant challenges and innovative solutions…Now we can provide an even greater level of professionalism and customer service…’
Dave Daines - ISO Representative for CRC Mining

A worldwide partnership was recently formed, between four national, not-for-profit organisations, to provide industry certification for Asset Management Assessors. The certification will assure the quality of assessors, and confirm their knowledge and comprehension in asset management systems.

Stakeholders responsible for this ground-breaking initiative include ABRAMAN-Brazilian Maintenance Association, a private, scientific society with 2700 professional and organisational members; the USA Society for Maintenance and Reliability Professionals Certifying Organisation (SMRPCO), formed by practitioners to advance reliability and create leaders in the field; the Plant Engineering and Maintenance Association of Canada (PEMAC), a national association providing global leadership, education and certification in world class maintenance, reliability and physical asset management practices, and in Australia, the Asset Management Council; committed to promotion of best asset management practices in industrial, commercial, academic and government organisations.

Certification will include an exam and cover individual subjects in the GFMAM Landscape to ensure that assessors have a comprehensive knowledge of asset management; effective methods of ISO 55001 implementation and how assets will continue to be managed. The Asset Management Council believes this is the first initiative where stakeholders require assurance around the domain knowledge of auditors and assessors, as well as being the first initiative created through a partnership between international peak bodies.

Case example - attributable results from effective asset management. A major industry leader was experiencing an erratic share price and a bleak future. The company, intent on improving reliability of the business, made the unexpected move of doubling the size of the maintenance task force during official shut downs. Contrary to previous beliefs and practices, overall plant reliability significantly increased as was the company’s reliability, resulting in a substantially improved share price – all due to effective Asset Management practices.

Asset management certification will allow for this type of continuity across numerous asset types and in turn increase safety, profitability, customer service and market-share for participants globally.

‘We have pursued and reached the next phase on the Knowledge Highway and brought Asset Management well and truly into the 21st Century...’
JR Lafraia - President - ABRAMAN Brazilian Society for Maintenance and Asset Management

Register your interest with the Asset Management Council at 

Announcing new 2014 issues of ‘Framework for Asset Management’ and 'Companion Guide to ISO 55001'


Announcing new 2014 issues of

AMBoK ‘The Framework for Asset Management’ (Second Edition)


AMBoK ‘Companion Guide to IS0 55001’ (Edition 1.1)

The new AMBoK ‘Framework for Asset Management’ 2014 publication has now been released; updated with improved coverage on continuous improvement and standards, this new, explanatory and informative publication provides the Asset Management Community with a concise picture of the principles, concepts and processes of asset management. This comprehensive edition explains and emphasises key roles of stakeholders; leadership and culture, key concepts and asset management maturity and unequivocally demonstrates the remarkable and consistent growth and global wealth of knowledge the Asset Management Council and its members have acquired.

In addition to this vital publication, the ‘Companion Guide to ISO 55001’ (Edition 1.1) is also available; released in June 2014 this, ‘must have how to guide,’ delivers an instructive approach when implementing ISO 55001. It is effectively used in conjunction with the Standard ISO 55001 Asset Management – Management Systems – Requirement. The ‘Companion Guide’ is an essential document for every asset management professional.

Created by members of the AMBoK Team, who are also key members of the Asset Management Council; these valuable publications are only a small part of the reason why Australia is globally acknowledged as being on the forefront of Asset Management understanding and experience.

One of the key strategic objectives of the Asset Management Council, over the past decade, has been the tenacious pursuit of knowledge in order to gain a deeper understanding of Asset Management; to test and expand the knowledge frontier, both nationally and internationally and create value for the community and business. This will continue to be done through national and international relationships, to allow for development of ideas, to gain implementation effectiveness and enrich the body of knowledge to benefit members and stakeholders alike.

A Very Public Thank You to our Professional Volunteers!
The Asset Management Council wishes to publicly thank all of its tireless and extremely generous Professional Volunteers who come from a diverse range of industry and organisations; individuals, from thirteen Chapters operating throughout Australia, who contribute to the creation of intellectual thinking, the formulation of content for numerous publications, technical papers and industry certification. Individuals who have been significantly instrumental in shaping the Asset Management profession on both the local and international arenas; thank you!

Want More Information? The Body of Knowledge has 800 peer reviewed technical papers spanning twenty years! Click the links below for more!

AMBoK Information

Purchase Framework for Asset Management and/or Companion Guide to ISO 55001

Technical Document Search






ampeak 2013 Web
(Previously known as ICOMS)

SYDNEY - June 2015


Hosted by the
Asset Management Council

A stimulating and social opportunity to network, share and learn…for all levels… a starting point to gain recognition as an achiever and Asset Management Professional

The Asset Management Council invites and welcomes experienced professionals, young asset management practitioners (YAMPS) and forward-thinkers; individuals from the Business world; Engineering and Finance sectors; Industry and Academia; to the 21st AMPEAK Conference, to be held in Sydney, June 2015.

AMPEAK 2015 promises to be as inspirational and educational as ever; an event which will deliver diversity in presentations, forums, workshops and site visits; numerous opportunities for networking and establishing professional relationships. Five days culminating with the AMPEAK Gala Dinner and Awards Night.

The 2015 agenda will deliver four days packed with indispensable information on asset management; advances in technology; financial management; strategic maintenance planning and development. Additional subjects will include: case studies, risk management, ISO 5500X, along with a range of discussion papers and more!

Day five will present a series of workshops and a rare opportunity to visit significant attractions to view large scale infrastructure at work. These site visits have proved extremely popular; have limited places and should be considered a priority booking.

The AMPEAK Gala Dinner and Awards Night has been a highlight of every Conference; a great networking opportunity where ample time is given to cement professional relationships and establish new contacts.

Awards will be presented across a range of categories including: ‘Best Research Paper,’ ‘Best Review Paper’ and ‘Best Student Paper’; ‘Lifetime Membership Awards,’ the prestigious ‘MESA Medal’ for contribution to the Industry, and ‘Corporate Asset Management Awards’. A ‘Nominee Award’ for Engineering Australia’s ‘Engineering Excellence’ and the ‘Founder’s Plate’ will also be highlights of the night.

Call for Papers: AMPEAK is now calling for papers in time for the 2015 Conference. Top ranked papers will be published in the ‘Australian Journal of Multidisciplinary Engineering’.

YAMPS: An opportunity for Young Asset Management Professionals (18-35 years of age), to volunteer their services as Conference Hall Managers and in return secure FREE entry to lectures, forums and networking opportunities. Volunteer now! Positions are limited!

AMPEAK 2015 promises to delight; a rewarding experience and a global opportunity for a meeting of minds and exploration of new ideas; to assist the advancement, knowledge and professionalism of the Asset Management Industry.

Diarise NOW! Further information, on AMPEAK 2015, will be provided soon.

Call for papers information link:

‘…Australia is most advanced in terms of thinking Asset Management…for me it was a week of learning and sharing…a great country with even greater people…’

Written by - Dr Achim Kruger - Vice President - Operational Excellence Solutions SAP - 2014

Boards should focus on asset management to achieve business productivity and outcomes

The Asset Management Council and Industry Funds Management (IFM) today announced they have signed an agreement to provide significant business and asset management framework support to industry in Australia and overseas.

Chief Executive Officer for the Asset Management Council, Sally Nugent said the Partner Organisations contribute much needed financial resources, and far more importantly, they share the journey and vision to develop asset management as a framework to deliver business outcomes and manage risks.

“It's important that we continue to advance the knowledge, understanding and access to asset management as a functional whole-of-organisation approach.”

“Working with IFM will enable the Asset Management Council to significantly advance industry awareness of the interrelationship of asset management with business investment and financial functions,” said Sally.

IFM will focus on contributing skills and knowledge on the long term, sustainable management of infrastructure assets to the Asset Management Body of Knowledge suite of online business tools now under development.

The Asset Management Council welcomes Danny Elia, Investment Director, Infrastructure, for IFM to its Board. Danny drives IFM’s asset management strategy across its portfolio of 26 infrastructure assets globally.  IFM invests in core infrastructure assets across a range of industry sectors in Australia, North America and Europe.  In accepting his appointment, Danny Elia noted:

“We are delighted to work with the Asset Management Council in an area we consider to be critical to achieving superior and sustainable returns on long term assets. We are an ‘open ended’ fund manager, which essentially means we generate returns for our investors through the successful operation, maintenance and management of our assets over long periods of time. This long term focus has created a unique culture at IFM, where as a fund manager, we are taking an active interest to ensure our assets not only generate superior returns, but that these returns are safeguarded by responsible operating, maintenance and management practices. ”

“Our partnership with the Asset Management Council will enable IFM to work collaboratively with the broader Engineering and Business community to share and exchange knowledge with a view to building and improving asset management thinking globally.” he said.

“We look forward to ongoing collaboration with and support from IFM. It is imperative to us that we have long term strategic relationships that are global and representative of different industry sectors,” concluded Sally.

The five year agreement marks the third and final Partner Organisation agreement in place with the Asset Management Council.

The Asset Management Council three Partner Organisations are:

  • Transfield Services, a global asset operator and asset management service provider
  • SAP Australia Pty Ltd, a global enterprise asset management IT solutions provider
  • Industry Funds Management, a global investment manager with a 17 year investment track record in infrastructure