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On-Demand Recording: Getting Company Wide Buy-In for Asset Management with ISO 550001

arches-1866598_640The Gladstone Area Water Board (GAWB) is the first water service provider in Australia (and the second in the world) to achieve ISO 55001 certification.  The journey to certification provided for a collaborative engagement and company wide buy-in from the Board level to the shop floor, in asset management.

GAWB utilised already developed practice and process, along with existing certified systems, to demonstrate compliance to the standard, identify gaps and develop documentation to meet the standard. Stakeholder engagement included not only inter department groups within GAWB, but most importantly the certifying auditors themselves.Continue reading

Filed under: On-Demand Recording

7 Simple Questions To Help You Choose the Right Asset Management Metrics

pressure-690161_640The one thing I’ve learned throughout my career in asset management is that if you don’t measure something, people don’t do it. As soon as you stop measuring it, people will quit doing it. You may be measuring something this month and people start gradually improving – then you stop measuring it, and what happens? A month or two later that metric starts going down again.

Measurement is the first step that leads to control and eventually to improvement. If you can’t measure something, you can’t understand it. If you can’t understand it, you can’t control it. If you can’t control it, you can’t improve it.”  – H. James Harrington

So measuring your efforts is essential, but how do you know which metrics to choose?Continue reading

Filed under: Operations

On-Demand Recording: How to Move the Right Reliability and Asset Management Levers to Enhance Shareholder Value

hose-758461_640Corporate senior executives have traditionally seen reliability and asset management levers as uninteresting and technical activities.  However, forward thinking organisations are learning that when these levers are moved, they can significantly enhance and sustain the shareholder value of the enterprise.

Bob DiStefano is credited with being one of the earliest leaders to recognise and emphasise the links between corporate business performance and asset management. In his fascinating keynote at the Mainstream Conference in 2017, Bob dissected a company’s financial statements to expose the direct connections between asset management measures and strategic measures of shareholder value, including company profit, share price, market capitalisation and Return on Assets.
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Filed under: On-Demand Recording

2 Companies That are Proving Good Asset Management Impacts Financial Results

growth-1152553_640In many asset intensive companies around the world, corporate executives are more focused on achieving financial results than the technical aspects of running a company.

They know they have highly talented, technical people who will worry about the ‘nuts and bolts’ of the asset management world.

What they often don’t understand is the impact that asset management practices have on the financial performance of the company, and the potential that improvement in these areas can have on the bottom line.

 

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Filed under: People & Leadership

On-Demand Recording: Choosing Metrics to Achieve Cost Optimisation and World Class Performance

selecting metrics_Mainstream Conference 2017Every maintenance organisation needs to be measured. However there is no one-size fits all method of measuring the health of your organisation.

Using well-thought out and carefully selected metrics, Anheuser-Busch moved from being an average maintenance organisation to world class across twelve facilities. The efficiencies gained in this effort enabled them to reduce parts costs by over 20% and labour costs by over 10%. This was accomplished by auditing their facilities on a regular basis and developing action plans after each audit for reaching the next level. They also had buy-in from production which helped stress the importance.

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Filed under: On-Demand Recording

Mainstream Conference Celebrates 22 Years

Mainstream EAST 2017 - 1Over 400 asset management thought-leaders, professionals, practitioners and sponsors came together for another highly successful Mainstream Conference held in Perth and Melbourne this April (see who attended here) This is the 22nd year this thriving community has come together to explore the leadership, technology, ideas and innovations that are transforming asset management today.

There were three broad areas of focus at this year’s Mainstream Conference:

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Filed under: Conference News

Creativity for Asset Management Professionals: How to Break out of the Box of Fixed Thinking Patterns

Creativity for asset managersWhen was the last time you were ‘creative’? You may have to think all the way back to finger painting in pre-school or perhaps it was a more recent flourish of inspiration to make that cubby house your kid has been nagging you about.

Many engineers and asset management professionals think they’re not creative because they’ve be labelled as ‘practical’, ‘left-brained’, or ‘good with their hands’. They operate best in an environment where they know how things work.

But consider this…

The word ‘engineer’ comes from the Latin words ‘ingeniare’ and ‘ingenium’. Simply put, an engineer is someone who uses his or her ingenuity to change the world. Engineers have an inherent curiosity to understand the world and they endeavour to solve some of the world’s toughest problems. How much more creative can you get than that?

This hidden creativity will serve the engineering and asset management community well as the industry rapidly transforms itself. Maintenance and Reliability professionals have moved beyond their operational role and are fast transforming into a core, focused, and disciplined strategic business function.

This means that you require a very different toolkit to survive and thrive.Continue reading

Filed under: People & Leadership

4 Impending Disruptions Asset Management Professionals Can’t Afford to Ignore

Disruption Mainstream ConferenceWe are living in an age of unprecedented disruption. Once-lucrative revenue models are under siege. Market structures and distribution channels that have been stable for decades are crumbling before our eyes. The demise of brands such as Kodak, Borders and Blockbuster leaves us with little doubt – shift is happening and no business is immune. The frightening fact is that most businesses don’t realise they are becoming obsolete until it’s almost too late.

So is the asset management industry at risk? Here are 4 major shifts that are happening right now that may be threatening Asset Management as we know it:

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Filed under: People & Leadership

Technology in Asset Management: How to Cut Through the Hype to Offer True Value

Drone Artifical Intelligence Mainstream ConferenceDrones, 3D Mapping, Artificial Intelligence, Automation….. Not long ago these were solely the domain of technology companies to explore.

However, with the increasing democratisation of technology today, these technologies are creeping into mainstream industries, including asset management, and it’s changing the fundamentals of how we work.

Here’s an excerpt from our Asset Management 2017 Industry Snapshot which details the community’s drive to adopt this technology and what they hope to achieve by using it.Continue reading

Filed under: Technology

Engineering is Logical, People are Not

Logical EngineeringI’m not saying engineers can’t lead people, but the bottom line is engineering is logical, people are not. Management is also more about logic, i.e. budgets, resources, ROI, where leadership is more about emotions, trust and respect – you don’t think trust, you feel trust.

So what do YOU need to do to be more successful as a leader not just a manager?

Consider the following:

You might be your team’s manager, but would your team vote for you as their leader? Titles mean nothing when it comes to leadership.

When was the last time you looked in your leadership mirror? Do you really know the impact you are having on your team?Continue reading

Filed under: People & Leadership
 
 

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