Please join us for the first in a series of short webinars brought to you by the IAM UK Chapter.

This short series will be presented by Jennifer de Vries, Steve Plumb and Allan Boardman who are all senior asset management experts at PA Consulting. Between them they have experience (and great stories!) from across numerous asset intensive industries including Energy, Water, Transport, and Defence. They have worked with organisations across the full spectrum of asset management maturities - from those new to the concept of asset management, to organisations that are mature and are chasing the smart asset management eutopia - and will bring their best practice insights from each. 

As the first in a short series, this webinar will explore the step 1: curiosity and the appetite to challenge traditional thinking and how critical it is in underpinning all asset management activities.

Summary:

It could perhaps be considered extremely frustrating that the journey to exceptional asset management will never be completed by any organisation...

All asset owning organisations are somewhere on a broad spectrum of maturity. In part thanks to external pressures (such as regulation), some industries are more mature and more sophisticated in their asset management approaches than others.  These organisations tend to have dedicated, professional asset management teams and sophisticated tools to support decision making, but even those organisations must continue to become more sophisticated at asset management in order to remain competitive and ahead of the ever increasing regulatory and business pressures.

In a short webinar series, we will be exploring the five steps individuals and organisations need to take on the journey to becoming increasingly professionalised:

1.            Empowerment to be curious - Exceptional results are driven by curious people empowered to challenge traditional thinking

2.            Alignment from strategy to spanner - Outcomes, objectives, strategies and plans should be aligned to provide line of sight from “strategy to spanner”

3.            Realisation that all that glitters isn’t good asset management - Advanced tools and software are not a substitute for having the fundamental building blocks in place and good housekeeping

4.            Appreciation that all good decision making is based on Cost, Risk and Performance - Cost, risk and performance based decisions should drive value throughout the organisation and its supply chain

5.            Acknowledging that the future is real-time - Digitally connected assets and digital asset management methods will drive the “drumbeat” of asset management processes towards real-time

Underpinning these five points is the drive for the relentless pursuit of sophistication. This is the drive to continually get better at making asset investment decisions, to move through points 1-5 and beyond, and to continually become more sophisticated at how you balance cost, performance and risk. Without this desire, even those organisations currently considered best in class professional asset management businesses may become complacent -  achieving ISO55000 accreditation should never be the finish line for asset management organisations!

Using examples from across, energy, water, transport and defence sectors, the webinars examine this series of five points and how aspiring asset management organisations can avoid these pitfalls. 

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