This is the second in a three part series entitled: Asset Management – Are we nearly there yet? A short series of webinars describing how organisations might practically head towards asset management utopia using interesting stories from numerous sectors.

This second webinar will cover the second and third stepping stones in the asset management sophistication curve:

• Align from Strategy to Spanner: From the IAM anatomy, you will have heard the term ’Line of Sight’ – Strategy to Spanner is our interpretation meaning that operational activity is, not only, completely aligned to top level strategy but those undertaking the activity know exactly why they are doing what they are doing and how it contributes to the organisational goals. Performance culture is therefore driven by shared purpose delivering the right outputs, at the right time, to achieve organisational objectives and outcomes. This sounds both simple and obvious however the conflicting natures of multiple business outcomes, historically siloed organisations and internal competition requires a structured and engaging approach such that activity at all levels of the organisation are aligned – from strategy to spanner….

• All that Glitters isn’t Good Asset Management: How often has someone tried to convince you that the new shiny software, AI Engine or virtual reality headset is the “life, the universe and everything” solution to all your asset management problems.  Well it might be, but it’s unlikely unless you have some of the fundamentals in place to allow that system to work.  An asset register, asset hierarchy, asset failure, condition, performance and cost data, asset attributes, maintenance plans and records are all essential building blocks for any of the shiny new toys to work.  Investing in technology without these building blocks is like buying Microsoft Excel and expecting it to unilaterally solve your tax return. Even if you do have all the building blocks in place, this doesn’t excuse you from the need to relentlessly keep them up-to-date through good housekeeping.  Time and time again we work for organisations that throw thousands of pounds at some of the building blocks in response to a crisis (which is sometimes the implementation of a new system), only to then fail to maintain that data once the crisis has passed – a costly mistake! That said, there absolutely is a place in asset management for clever systems and tools, but they are rarely the panacea they are made out to be unless the building blocks are in place.

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