Many infrastructure-related businesses have invested heavily in asset information systems to help manage their assets and improve their overall efficiency and performance. Such programmes typically include new software tools and modified working processes, and are aimed at providing better information to help the asset management function make better decisions. Despite very significant expenditure, many businesses complain that benefits have been slow to be delivered, are difficult to quantify, and their asset managers still say that they do not have access to the information they need.
The necessity for good asset information is growing rather than reducing. Requirements are becoming more sophisticated, and the number of stakeholders and hence the complexity of collating and sharing information is increasing. This trend is set to continue, given the increasingly stringent regulation of utilities, the increase in private finance initiatives to fund major capital programmes, and a greater collective understanding of asset management risk.
In response to the growing level of interest in this area, an IAM working has developed a draft “Asset Information Guidelines” (AIG) document to assist businesses in improving their asset information capabilities. The Guidelines apply to the information necessary to manage physical assets and are intended to be applicable to any asset-intensive business or industry. It should be considered as supplementary to BSI PAS55:2008, and a guide to help businesses meet the asset information requirements which that standard specifies.
The Guidelines’ intended audience is the community of people responsible for the management and utilisation of information associated with assets. This group typically includes Asset Management, Engineering, Operations, Finance, and IT departments. However, it also recognises that the understanding of asset information management in an asset management context is an emerging discipline and it is therefore written to allow ‘non-practitioners’ to better understand the importance of good practice asset information management.
These draft Guidelines are issued for review and comment and are intended as a step in developing a broader “Body of Knowledge”. They are intended to be followed by further work to develop a related set of Practitioner Guidelines focussing on how to undertake key activities related to asset information.
Further updates & Discussion
The IAM recognises that the Guidelines provide strategic and high level insight regarding a broad subject and practitioners also require more detailed advice. A discussion forum and a working group is being established to identify requirements and develop further specific guidance and practical advice for more narrow aspects of the subject. If you think you could help support this work, please post a comment in the forum for the Guidelines.
A free copy can be downloaded after agreeing to the Terms and Conditions AFTER you Log In. We would welcome your views and suggestions in the AIG Forum.