May 26, 2019, 9:27 pm

Articles - Asset Management

2019 AMPEAK Conference - Key Issues, Trends and Lessons from Australia’s Top Asset Management Professionals

Written by Sandy Dunn.   

Each year Assetivity takes part in AMPEAK, the Annual conference of the AM Council, Australia’s peak professional body for Asset Management. The conference is a meeting place for Asset Management professionals and facilities an exchange between a broad range of industries and decision makers.

AMPEAK received a record number of registrations this year, with over 100 speakers, running over three days at the Esplanade Hotel in Fremantle, Western Australia. The audience comprised of individuals from organisations who manage assets across the planning, acquisition, operation & maintenance, and disposal phases of the asset lifecycle. The individuals represented numerous industries such as infrastructure, finance, mining, oil & gas, defence, utilities, facilities, risk & reliability and occupational health and safety.

This year, Assetivity was represented by Sandy Dunn - Managing Director and Gary West – Associate Director, along with Senior Consultant, Stewart Kiely. 

Sandy and Gary presented the following papers, which were both extremely well received and generated a lot of discussion:

  • ‘Asset Management Strategy vs SAMP - Has ISO got it wrong?’ – Sandy Dunn
  • ‘Asset Performance Management - the promise versus reality’ – Gary West

Assetivity has put together a list of the key takeaways gained from the knowledge shared amongst Australia’s top Asset Management professionals at the 2019 conference:

 

Asset Management Strategy vs Strategic Asset Management Plan (SAMP) – Has ISO got it wrong?

Written by Sandy Dunn.   

In dealings with our clients, I often find that there is considerable confusion regarding what should be contained in a Strategic Asset Management Plan (SAMP). We have seen SAMPs that are upwards of 200 pages long – a mighty tome that is destined to rapidly become “shelfware” and of little value to anybody. This confusion is exacerbated by the lack of clarity in guidance that is provided in ISO 55000, ISO 55001 and ISO 55002. In our view, it appears that ISO itself (or at least TC251 – the technical committee that put together ISO 55001) is confused regarding its definition of the SAMP. More specifically, they have confused two separate documents – an Asset Management Strategy, and the Strategic Asset Management Plan. We hope that this will be clarified in the next version of ISO 55001, but in the meantime, I outline the reasoning for why improvements are needed below.

First, let’s make sure we are all on the same page when it comes to terminology.

 

Asset Management Accountability Framework (AMAF) – an overview

What is the Asset Management Accountability Framework (AMAF)?

In early 2016, the Victorian State Government’s Department of Treasury and Finance published and issued their Asset Management Accountability Framework (AMAF). The AMAF replaced the Victorian Government’s previous asset management framework “Sustaining Our Assets” and its related asset management series. (1) The AMAF is intended to assist Victorian public-sector agencies to manage their asset portfolios better and provide better services for Victorians (1). The AMAF provides guidance to all Victorian Government organisations which are subject to regulations of the Financial Management Act (FMA) of 1994.

 

West Australian Department of Local Government and Communities (DLGSC) National Asset Management Assessment Framework (NAMAF) Support

The National Asset Management Assessment Framework (NAMAF) was developed by asset management professionals from across Australia under the guidance of the Australian Centre of Excellence for Local Government.  The NAMAF provides a methodology for assessing the maturity of a local government asset management and financial planning processes.  It comprises 11 elements against which local governments can self-assess their progress in implementing better practices, and develop improvement plans. 

Although intended as a national program, implementation of the NAMAF has proceeded state by state, with the, then Western Australian Department of Local Government and Communities (DLGC), now Department of Local Government, Sports and Cultural Industries (DLGSC), launching a program in that state in February 2014 as an extension of their Integrated Planning and Reporting initiative that had been running 2009.

At or about the same time, ongoing assessment of asset management planning by DLGC highlighted the need to improve the accuracy of asset condition and useful life data.

 

Linking Asset Management & Quality – ISO 55000 & ISO 9000 Synergies

Written by Scott Yates.   

There is growing acceptance that the organisational benefits of formal asset management and quality management systems are real and significant, but there are also many concerns about the very real and significant cost associated with establishing and maintaining such systems. This is particularly true where the demanding requirements of the International Organisation for Standardisation (ISO) are being followed, such as ISO 9001 for Quality Management Systems and ISO 55001 for Asset Management Systems. Fortunately, ISO is aware of this and is actively working to reduce the compliance burden associated with its management system standards. With the recent release of ISO 9001:2015, we undertook a review to understand the synergies that exist between this and ISO 55001:2014 and how they might be exploited to reduce costs and increase benefits associated with compliant systems.

 

Certification Against ISO 55000 - Implementing ISO 55000

Written by Scott Yates.   

Congratulations! You have reached the last article in our series on implementing ISO 55000. In this article, we want to discuss how to get your asset management system certified, including various certification schemes and certifying bodies. This will be critical information if your organisation is seeking certification, but will likely be of interest to those seeking to align or comply with ISO 55000 as well. This is because these organisations will still usually require gap assessments and audits to guide their implementation efforts and choosing a reliable independent provider is key to obtaining value from these activities.

 

Using ISO 55000 and Integrated Information Systems to Drive Organisational Alignment

Written by Sandy Dunn.   

One of the central tenets underpinning ISO 55000, the international standard for Asset Management, is that organisations perform better when there the goals and activities of all that work within that organisation are aligned.  The better the connections between individuals and departments and overall organisational goals, then the better organisational performance will be. 

Organisational alignment takes two forms – vertical alignment (a clear understanding of how what each individual does contributes to the achievement of the organisation’s overall goals), and horizontal alignment (ensuring that different functional areas collaborate towards the achievement of common goals).  This article discusses each of these in turn.

 

 

Upcoming Training Courses

Monday, 10 Jun 2019 - Tuesday, 11 Jun 2019
Location: Brisbane

Wednesday, 12 Jun 2019 - Thursday, 13 Jun 2019
Location: Brisbane

Friday, 14 Jun 2019
Location: Brisbane

Monday, 17 Jun 2019 - Tuesday, 18 Jun 2019
Location: Perth

Tuesday, 18 Jun 2019 - Wednesday, 19 Jun 2019
Location: Brisbane

Wednesday, 19 Jun 2019 - Thursday, 20 Jun 2019
Location: Perth

Thursday, 20 Jun 2019
Location: Brisbane
Sign up to our Mailing List

Receive useful Maintenance & Asset Management articles, tools and news

assetivity logo