The Asset Journal, Volume 15, Issue 2
ASSET MANAGEMENT JOURNEY
An Asset Management System is a natural extension of a Business Management System. The difference is that the Asset Management System focusses specifically on the Assets required to achieve Business outcomes by extracting maximum value from those Assets that enable the Business to function. As such, Asset Management then has the propensity to affecting the whole business and the organisation delivering objectives, outcomes and value. A decision to adopt an Asset Management System should therefore start with these questions, particularly clarifying the “WHY”.
When recently discussing the impending Asset Management journey with a Client’s Managing Director, it became clear that the reasons for implementing an Asset Management System was not really clear in the person’s mind. It was more a reaction to the mention of a ‘good idea’ to follow ISO 55001 to develop maintenance. Which is of course not at all the primary reason for Asset Management – it is rather the life cycle control over Assets and the values generated. Once clarified what Asset Management entails, there was realisation that the journey actually affects all that are involved with this new and substantial Asset in question.
Clarity of purpose, clear direction and support from the top-level management team are the imperative ingredients to make the Asset Management Journey a success. Of vital importance is to realise that an Asset Management System is the framework for how an organisation will operate and hence needs to structure processes and procedures to ensure that the Asset Management and Business Objectives can be met. Of course, that does not mean that what an organisation currently does and the present processes and procedures in place should be thrown out. On the contrary, we would re-use as much of current workings as is relevant and supportive. A good starting point has been proven in my observation and practice to carry out a readiness for Asset Management review. This will inform the organisation of priorities to attend to prior to designing the Asset Management Framework and System. This survey can be structured around the 39 Asset Management subjects that have been defined as relevant to Asset Management. Careful examination of which of these subjects are appropriate for the new Asset Management System is advisable in order not to create an organisation that is not delivering value to the Stakeholders and the Business.
Editor in Chief