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

See Who Attended in 2017

Hot topics from 2017

A series of face-to-face discussions across Australia resulted in the evolution of this unique snapshot document – a culmination of conversations with over 90 professionals from 80+ companies. The participants, senior asset management leaders, revealed what is happening within their organisations and the wider community with regard to the barriers to achieving asset management excellence.

 

 

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  • Adding True Value to the Organisation with Great Asset Management, Reliability and Maintenance Leadership

    How can an organisation strive for operational excellence without the right leadership in place? In many cases, the people in leadership roles are technically excellent in asset management and maintenance, but don’t have the skills or experience to guide people towards the higher objective.

    We need to understand the fundamental soft skills that are required to achieve the balance between technical and people related leadership. Leadership can be the difference between a sustainable initiative and reverting back to the old ways very quickly.

    Organisations are looking for people with vision who can empower their teams to do the work they are assigned to do. The organisations making positive steps are working out where leaders offer actual value add and freeing them up to add that value. The vision at the highest level is then mirroring those at the lower level.

    Enablers to achieving excellence:

    • Empowering leaders to take the whole organisation on the journey
    • Understanding where leaders add value and enabling them to do so
    • Rewarding positive behaviours and aligning KPIs
  • Engaging with Senior Leadership and Understanding Why Asset Management Matters

    We often talk about the frustrations of trying to get the C-suite to understand the importance of asset management. It’s possible we’re looking at this the wrong way around. The key is for us as asset managers to understand what makes the business tick. We are not fixers. We are there for the business to utilise to help them make money and manage their risk.

    Instead of trying to explain to the C-Suite what we want, we need to understand what’s important in their world. Then we can go to them with statements like this: “To achieve what you want to achieve, this is what you need. This is how we can help.’’

    Businesses only care about the prioritisation of capital. Each project should be linked to specific strategic objectives of the business – with direct lines straight to margin and productivity. Asset management is all about schedule ready assets – not reliability.

    Enablers to achieving excellence:

    • Each project should be linked to specific strategic objectives of the business – with direct lines straight to margin and productivity
    • Clearly articulate the cost/risk story to Executives
    • Avoid using language and tools that only engineers love
  • Striving for Operational Excellence in a World of Capital and Cost Constraints

    We are operating in a world of ageing assets, capital constraints and changes in monitoring and maintenance models. We are trying to extend asset life and reduce costs – but does the business understand the implications of that? And is it even possible?

    Fundamentally, we need to adapt our asset management strategies to truly reflect the value of our assets and the market conditions in which we are operating. Don’t over maintain – we need to ask ourselves, what is the benefit of the strategic path we are on?

    Within every organisation there are different definitions of value. In the current climate we need to ask ourselves with every decision, am I adding value to the organisation? We may be changing our asset management strategy to try and get more out of our assets, but we shouldn’t be worried about perceived lifecycles, only about availability and condition.

    Enablers to achieving excellence:

    • Know where your non-value assets are in order to prioritise
    • Don’t service a Holden like it’s a Ferrari!
    • Ask yourself with every decision, “Am I adding value?”
  • Running an Asset Management Project or Initiative with Agility and Flexibility

    Our organisations operate in a VUCA world: Volatile, uncertain, complex and ambiguous. Long-term strategic planning is more difficult and its success is more unpredictable. The ability for asset management to adapt its practices to support the appropriate business model and service delivery for the here and now is essential to survive.

    It has long been thought that standardisation is the glue that holds asset management together. But it is the ability to leverage off knowledge beyond a single place which enables business strategy to thrive.

    In uncertain times, it is more important than ever to try and foster a culture of collaboration. Collective goals are missed when organisations don’t share intelligence, data or even services. Silos are responsible for duplication and significant wasted resources.

    Being agile means talking about everyone’s shared risks and opportunities – identifying common ground. When everyone becomes focussed on solving issues together they are no longer personal problems.

    Enablers to achieving excellence:

    • Accept that asset management isn’t always a stable, predictable state
    • Don’t think of ‘reactive’ as a dirty word
    • Governance, organisation and people are the enablers of true business focus
  • Good Data – The Difference Between Being Able to Know, and Being Able to Show

    Good data allows for good decision making. When we don’t set ourselves up to use the best data, we’re forever chasing our tails. But there are two polarising challenges affecting asset managers: Too much data and we see a lack of context and focus; too little and there are questions of integrity and quality.

    How can data governance become embedded in an organisation and the roles of its employees? Too often there is insufficient ownership of data or clarity as to who looks after what data and why. This links directly to an organisation’s culture. Employees need to be trusted to capture, and empowered to own and utilise data to drive a culture of collaboration.

    Data is abundant, but we need to demonstrate the value-add in everything we do. Excellence will follow if we can translate data into commercially valuable information.

    Enablers to achieving excellence:

    • Trust employees to capture data and empower them to use it
    • Data is abundant: Always mine your data with a goal in mind
    • Leverage shared collection devices and social media to cut through the noise of big data
  • Utilising Technology to Offer True Value Today, Tomorrow and in 10 Years’ Time

    There is a democratisation of technology – it’s changing the asset management world fundamentally – but this is not happening in a vacuum. The workplace is changing and employees are expecting a new experience.

    The goal is to find technology which can demonstrably improve asset management and offer true value to the business. Ultimately we are searching for simplicity – technology which is easy to use and effective in delivery. The ability to automate processes and standardise tasks to improve productivity is the goal. Automation requires availability and reliability – but costs can creep with more complex equipment to maintain.

    We want to enable our organisations to provide technology that is designed for and driven by the user. With an increasingly contingent workforce, remote workers and bigger communication challenges, how do we keep people engaged? And what part can technology play? It all goes back to why we are using technology. Buying the bling without knowing the reason is one of the biggest mistakes we can make.

    But what is even worse…… being left behind.

    Enablers to achieving excellence:

    • Figure out where the business wants to be in 1-5 years’ time and plan your technology accordingly
    • Beware of cost creep associated with technology automation and complex equipment
    • Make sure your people have the skills to enable the emerging technology
 
 

Thanks to all our 2017 sponsors

 
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    ARMS Reliability
     
    Premier Partner
     
  •  
    Assetivity
     
    Community Partner
     
  •  
    Ausenco Rylson
     
    Community Partner
     
  •  
    Enterprise IS
     
    Community Partner
     
  •  
    GVS
     
    Community Partner
     
  •  
    Redeye
     
    Community Partner
     
  •  
    Programmed
     
    Interaction Partner
     
  •  
    Beca
     
    Partner
     
  •  
    Bureau Veritas
     
    Partner
     
  •  
    OpenText
     
    Partner
     
  •  
    Prometheus
     
    Partner
     
  •  
    Revisia
     
    Partner
     
  •  
    Viziya
     
    Partner
     
  •  
    VoiceID
     
    Partner