Data in Asset Management

Chair

Julian Watts

Data in Asset ManagementChair Associate Director
KPMG

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With data becoming increasingly more critical in every aspect of our lives, it makes sense to leverage its transformational power. Data is the core capability that ought to underpin every organisation’s business objectives and asset management plans.

However, the ability to capture, store and leverage data in almost every business and organisation is ad-hoc. Data storage systems are organic, a game of catch-and-grab, mainly due to the three Vs of data: verocity, volume and variety. This shambolic method often results in information silos, making asset management strategies increasingly difficult.

At Transport for NSW (TfNSW) , data is leveraged via digital engineering and is transforming asset management. Digital engineering methods are used in combination with new, emerging technologies to leverage structured data, resulting in more smoothlined services, operations and maintenance.

For those readers who may not be aware, digital engineering is a collaborative way of using digital processes to enable more productive methods of planning, designing, constructing, operating and maintaining our assets1. It focuses on merging digital insights with reality, to offer cost-effective means of operations, a greater user experience resulting in wide-spread value for the organisation.

TfNSW is motivated by the desire to share knowledge across all their management sites and data platforms, ensuring that data and information are managed as assets. This has been achieved by holding a clear line of sight over project deliverables, using common coding methods in data structure, and linking risk management and requirements across all corners of the business.

The result is faster commissioning, reliable data, information mobility, and optimised maintenance. In other words, using the right data and information at the right time, to make more informed decisions.

If you’re working with data in asset management, we’d love to hear from you. Contact us at info@amcouncil.com.au to share your data stories and we can showcase the positive results for your business or organistion. Don’t forget to join the Asset Management Council to immediately reap the benefits of membership. We offer reduced rates at our events and conferences, free access to our informative webinars and database of technical papers, CDP points and much more. Click here for further information.


1 Sourced: Governance Frameworks for AM Data Management, Simon Vaux, Director Digital Engineering, Transport NSW

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Contact the Chair:

Julian.Watts@amcouncil.com.au


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