Celebrating the leadership, technology, ideas & innovations that are literally transforming Asset Management

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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

How to Conquer Work In Progress (WIP) Overload

WIP Overload Mainstream ConferenceWhile you and your co-workers can see widgets on an assembly line, asset registers, maintenance plans or work orders, knowledge work is mostly invisible. Your work-in-process (WIP) grows. Before you know it, you’re overloaded. You can’t think deeply about what you’re doing, let alone find enough time for continuous improvement. Productivity slows. Mistakes and defects grow. Morale and job satisfaction decline. Planning is nearly impossible. Sound familiar?

As a former engineer, Jim Benson knows this scenario all too well. But he insists it doesn’t have to be this way. He’s a big believer in the Kanban methodology, a clever way of digging out of work — and staying dug out — to achieve higher quality, better productivity, greater job satisfaction, and peace of mind.

Mainstream Conference Program Director, Simon Yeowart, recently chatted with Jim to get a preview into his upcoming session at Mainstream Conference. Watch the video below to find out how exactly what Kanban is and how it can be applied to the work we do in asset management.Continue reading

Filed under: People & Leadership

Why Asset Management Practices are a Moral Imperative for Corporate Executives

asset management corporate executives mainstream conferenceIn 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 that. What they often don’t understand is the impact that asset management practises have on the financial performance of the company at the enterprise level, as well as all of the other benefits that executives tout as a high priority and important to the company such as safety and quality.

In my 40 plus years in the asset management world, I’ve worked hard to elevate the importance of asset management and help corporate executives understand why they should be concerned and interested in these traditionally very technical aspects of running an industrial company. It’s something I am very passionate about and I’m looking forward to sharing this knowledge at Mainstream Conference 2017.Continue reading

Filed under: People & Leadership

The 5 Characteristics of High Performing Organisations

peak-299011_1920No organisation is immune to things going wrong. Machines fail, parts malfunction and human error is something that simply can’t be avoided. But for NASA, failures can have very large scale implications.

So how do you manage these inherent risks?  It requires high performing, high reliability teams and the backbone of it all is good leadership. During Mainstream Conference 2016, Ed Van Cise, Flight Director for the International Space Station, pulled back the curtain on NASA’s culture and revealed the secrets of its high performing, high reliability team.

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Filed under: Maintenance & Reliability, People & Leadership

Three Ways to Improve ROI Through Asset Management

ROI Asset ManagementOver the last 20 years, discussions on asset management have moved from fix-as-fail to to the introduction of ISO 55 000 and the acknowledgement that asset management is a generator of value. Modern asset management recognises that our assets have inherent organisational value, they impact organisational performance and they influence organisational risk. But convincing the power brokers of the organisation that this is the case can be a real challenge.

As a member of the asset management organisation, you can demonstrate that you bring value to the organisation as a whole. Even if you work for an asset management organisation that is far removed from the corporate structure of your company, you can still create a movement to influence the organisation to acknowledge asset management as a generator of value.Continue reading

Filed under: Maintenance & Reliability

Identifying Pain Points for Asset Management Professionals

Roundtable discussion groupAs a Program Director, I often get asked how I decide on what goes into the Mainstream Conference program each year. While finding the people and organisations with the best stories is an important part of putting the event together, what many people don’t realise is that the research process starts long before the event planning even begins – usually 6 months out from the conference – when we get the community together in a series of roundtable discussion groups (or RTDs). It’s in these RTDs that we uncover and unpack the most pressing issues that are facing the Asset Management community. The challenges that keep them up at night and often prevent them from moving their teams and businesses forward.

Each roundtable discussion group involves around 20 people who sit around a… well… a round table! These people are real practitioners in the industry – Asset Managers, Maintenance Managers, Reliability Professionals – we want to speak to the people in the thick of it who are managing teams, driving strategic thinking, leading transformation projects and living the complexities that come with that every day.Continue reading

Filed under: Industry Research

Asset Management 2017: Industry Snapshot

asset-management-2017

As senior asset management leaders we strive for operational excellence. We know how important asset management is in a company’s ability to increase productivity, and to demonstrate continuous improvement. The fact is we rely on our assets to make money. We need to disrupt the mindset that asset management simply equals maintenance – it doesn’t. The current climate is right for engaging senior management in long-term asset management strategy and ensuring our organisations are set up to for continuous improvement.

How do we make asset management the value proposition that we know it needs to be? How can we maximise asset performance through stakeholder engagement, operational excellence and reliability?  As we set plans for 2017 and beyond, asset management practitioners are asking themselves these and other questions.

In a recent series of roundtable discussion groups, senior professionals revealed what is happening within their organisations and the wider community with regard to the barriers and opportunities to achieving asset management excellence. This report presents the results and explores some of the challenges facing asset intensive industries and the enablers which will lead the path towards change.Continue reading

Filed under: Industry Research
 
 

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