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 14, Issue 2

EKrauss

Asset Management Maturity – is it for us? This should never be a question. It is of course a sizeable investment to change an Organisation that manages Assets in to an Asset Management Organisation. And when all is done and achieved, how does the Organisation and importantly also the Stakeholder know what has been achieved? And that what has been achieved is working and embedded as the ‘new culture’? When considering the Asset Management system as described in ISO 55001, it is clear that the whole organisation needs to be involved in Asset Management. It was refreshing to receive a ‘lecture’ in Asset Management form a Personnel Manager in an Organisation for which I had the privilege to assess their Asset Management Framework and processes.

The engagement from the leadership team right through to the work force on the shopfloor or front line can be sometimes short lived. An observation of Organisations that globally are requesting support to improve their Asset Management System leads me to the conclusion that there are many early adaptors of ISO 50001 or PAS 55 discovering that their processes require constant attention and improvement and have presently deteriorated from the earlier focus on an Asset Management. Of course, as Organisations evolve and mature there are many reasons why the focus shifts and changes. And then there is the natural change of personnel that occurs in every organisation and requires firmly embedded processes and procedures that make Asset Management sustainable within the Business.

As the whole organisation is involved in Asset Management, it is not sufficient to make sure that Policies and Plans are kept alive and are reviewed from time to time. Certification to ISO 55001 is also a sizeable investment and is not a one-off investment, but should be kept alive throughout the life of Asset Management processes. Stakeholders require assurance that Asset Management is functional and provides the best outcomes, based on efficient management of the Business and its assets. This is where a maturity assessment of the Asset Management System is important, as this provides these assurances about effectiveness of the Asset Management System.

Culture, Processes and Cross Functional engagement are the some of the focus areas of a good Asset Management System. Assessing Asset Management maturity, for instance through the Asset Management Council Maturity assessment process, is a vital step to provide continuous assurance. Why not consider basing your next improvement cycle of your Asset Management System on such a Maturity process? The benefits of a Maturity assessment are the structured evaluation against internationally proven criteria of the efficacy of your Asset Management System resulting in the identification of specific improvements required to retain effectiveness of cost, risk and performance. Such an assessment is also a very effective way to identify where best to start to implement an Asset Management System.

We trust you enjoy the articles provided and welcome, as always, your feedback.

Ernst Krauss

Editor in Chief 

theasset@amcouncil.com.au 

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