The professional body for whole life management of physical assets

IAM: The Institute of Asset Management
March 2017

Earlier this month, I was privileged to chair the IAM Exchange event, produced by IQPC, which we have partnered for many years.  Yet again, we had a great line up of CEOs and other chief officers and senior invited delegates.

There were some really impressive presentations although it would be invidious to mention any by name.  But I am so excited to see some really solid asset management thinking and implementation and identifiable benefits over extended periods.  I am hoping that some of them will apply for an Achievement Award.  So you might see this yourself if you attend our Awards event.

In one of the informal sessions, I set the ‘exam question’: ‘If Top Teams genuinely believed in long term thinking, what would change?’  There followed an illuminating half hour of outspoken and heartfelt discussion.  Bear in mind that most of the group were from organisations well versed in asset management systems and process.

I cannot summarise all of it, but you might be interested in some examples.  I asked for both good and bad consequences but, honestly, there were no serious down sides.

There was a strong view that the organisation would become more process driven (than vertical and functional) and several real examples were given to support this.  Many felt that cross-functional collaboration would become easier.  All felt that decision making would move down several layers.

An interesting suggestion was that the organisation would think 2 or 3 CEOs ahead!  (This in relation to comments about what CEOs currently try to achieve in their limited lives – although nobody mentioned football managers!)

On further thought, there were interesting insights into supply chains.  How can suppliers serve you well if they don’t understand your 5-10 year plans?  ‘Value engineering’ would be cut out and procurement would have to be transformed: the emphasis would not be on cost but value.  For some of the water sector participants, this worked back fully into citizen needs (not only customers), driving true sustainability.

The logic for outsourcing would need re-evaluation and there were thoughts about people and capability and where data should reside.  This in turn fed back to the supply chain – if suppliers effectively become permanent and understand your needs ahead – is this really outsourcing – and why would you change them and lose that embedded value?

In just half an hour or so, such thoughts raised real excitement.  But then there was some dawning of ‘real life’ although some organisations (particularly Scandinavian) felt that much of this was possible.  I wonder why we can’t move faster in this direction if we all want such culture and leadership?

Maybe the drive needs to come from investors and stakeholders – but that’s another story that I want to return to another time.


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Annual Conference 2017

The programme is coming together and whilst still in production we can confirm involvement from:

● Keynote speaker - Lord AdonisChairman of the National Infrastructure Commission

● Devolution: A game changer for all, Sean Anstee, Mayoral Candidate and Leader of Trafford Council

● Transport as an enabler to growth and attractiveness, Dr Jon Lamonte, Transport for Greater Manchester (TfGM)

● Asset Management in North America, Ed Singer, Woolpert

● Tideway: Expanding a Two Hundred Year Old Network, Sian Thomas, Tideway; Maja Wood, Fiona Neoh and Rachel Blundell, Amey

● The Dutch perspective in using information and analytics to help perform, Thymo Van Den Brug, ProRail Netherlands

For more details about the programme and themes, click here.

Join us on 26-28 June in Manchester and you will benefit from unparalleled networking opportunities with the greatest international collection of asset management minds anywhere!

Book your conference place now! Our Early Bird discount is still available!

Exhibition stands and sponsorship opportunities are being snapped up. If your organisation wants to demonstrate your expertise, products or services, ask as soon as possible!

Early bird offers end 1st May.

Which IAM Award?

With the awards submissions in full swing I wanted to take this opportunity to remind those that have not considered a submission yet the options / categories they have.

Asset Management Achievement Award – Three separate awards recognise individuals, teams or projects that have worked together to improve aspects of an asset management system and generate benefits or enhanced value for society.

NxtGen Asset Management Award - This Award recognises those who have made an outstanding contribution to the implementation and development of asset management, and demonstrate great potential in the field.

Asset Management Innovation Award - Entries are welcomed from organisations that have demonstrated innovation in Asset Management which has delivered financial, performance and risk reduction benefits.

All about IAM Awards

I’ve heard that when people are explicitly asked about their abilities or achievements they subliminally understate them – so, if you think you know someone worthy of nomination – let them know!

Repurposing Assets

I mentioned last month the exciting momentum and thinking around “repurposing assets”. Mike Dixon along with the UK Chapter have made great progress in establishing a 1 day seminar, hosted by Arup.

Booking and event information can be found here.

The session will be a mix of presentation, panel discussion and audience participation. The main aim is to understand the nature of repurposing assets; can we learn from what we’ve done instinctively?

What value can repurposing have, both financial and non-financial?

Should we design for repurposing now to help us in the future? Is that even possible?

What are the current examples of “good” repurposing?

We hope you can join us, we appreciate all and any views or input you can offer. If you can’t attend but wish to contribute, please liaise with Mike Jones.

This topic will also feature at our Annual Conference, in June, so if you miss this event you can hear the latest news and thinking here.

The IMechE - “Asset Management 2017”

Marriott Hotel Regents Park, London
26 April 2017

Asset Management 2017 will address the key technical engineering challenges involved when managing obsolete equipment and the replacement of assets. Hear from thought leaders across the mechanical engineering sector, including Sellafield Ltd, Rolls Royce, EDF Energy, Gatwick Airport, London Underground, Atkins and IBM on how to ensure the continued reliability of assets.

For full details and to join this event, please visit

Discount for Institute of Asset Management members. Simply chose “Supporting Organisation” when booking online or contact us directly and mention your membership.

Dates for your Diary

IAM USA Bay Area Branch Meeting April 7th 2017
7 Apr 2017
5050 Arroyo Road, Livermore, CA 94550, USA

IMECHE Asset Management 2017: Reliability effects of long term storage and obsolescence
26 Apr 2017
London, UK

Repurposing Assets
15 May 2017
Arup, London, UK

The IAM Annual Conference 2017
26-28 June 2017
Hilton Deansgate, Manchester, UK

and finally...

I’m currently in Brisbane for two important meetings.  First is the TC251 meeting, at which the new draft of the 55002 Standard will be reviewed together with MANY hundreds of comments from various countries.  Wish us luck!

The second is a Global Forum meeting and I am looking forward to the AMC’s annual conference.  Unfortunately our President, Richard Edwards, is unable to go so I am standing in for him at the UIC Conference too.

I am also very much looking forward to meeting leaders of IAM USA because, ironically, we’ll both be in the same place – but many miles from either home!

Finally, welcome to Carole Charrade who joins our staff to lead Events production and, as you might have guessed is a native French speaker.


David McKeown, CEO

Index to Contents
Annual Conference 2017
Which IAM Award?
Repurposing Assets
The IMechE - “Asset Management 2017”
Dates for your Diary
and finally...

Asset Repurposing…

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