May 30, 2020, 12:20 pm

Articles - Asset Management

How do I become an Asset Management Assessor?

Written by Sandy Dunn.   

To become a certified ISO 55001 auditor you need to meet the competences outlined in ISO 17021-5:2013 – Part 5: Competence requirements for auditing and certification of asset management systems. The Global Forum on Maintenance and Asset Management (GFMAM) also provides some guidance in their Auditor Assessor Specification.

 

The New ISO TS 55010-2019 – What’s it about?

Written by Janez Marinic.   

QuestionMark500Finance is an integral part of Asset Management. Asset management is defined as “coordinated activity of an organization to realise value from assets”.  Value can be financial (revenues and costs) and non-financial (benefits and risks) and achieving the balance between these requires coordination and alignment across financial and non-functions in the organisation. One of the key outputs of the asset management planning process is an estimate of the cashflows that are needed to deliver value from assets and to support achievement of overall business objectives.  These cashflows could be operating expenses (OpEx) or capital expenditure (CapEx) as well as revenues that flow from this expenditure.  In many organisations, this coordination and alignment across financial and non-functions is often inadequate. Consequently, ISO/TS 55010 has been produced to provide guidance on achieving alignment across the financial and non-functions of an organisation.

 

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.

 

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