The Asset Management Council

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The Asset Management Council

• An exploratory evening together!

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Objectives tonight

• Inform interested people in KL of the strategic
  directions of AM Council
• Gain support for, and involvement in, that new
  direction
• Provide an overview of our new AM Model and
  asset management definition for discussion

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What is the AM Council?

1. A part of The Institution of Engineers, Australia
2. Like minded people who believe that asset
   management provides a key competency for a better
   future
3. Composed of commercial companies, public
   enterprises and individuals
4. 1400 people
5. 55 companies (Two of which are Supporters more
   shortly)

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AM Councils Vision

• Become a leading non-aligned, not-for-profit
  asset management organisation in Australasia
• Team with other leading AM organisations, and
  thereby bring asset management together

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Our Strategic approach

• Key Result Areas
• Develop Body of Knowledge
• Promote excellence (AMEA)
• Educate practioners and broader community
• Support our members and our community

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Our Five Year Plan

• A revised professional management structure
• Involvement of Australasian industry
• Encourage and resource continuous learning for
  members and the community
• Promote good asset management
• Document good asset management practice and
  science.

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What Are Assets?
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• What is asset management?

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What is asset management? Some definitions
PAS 55-1 Systematic coordinated activities and
practices through which an organization optimally
manages its physical assets and their associated
performance, risks and expenditures over their
lifecycles for the purpose of achieving its
organizational strategic plan. IIMM The
combination of management financial, economic,
engineering and other practices applied to
physical assets with the objective of providing
the required level of service in the most cost
effective manner. National Grid Transmission The
set of disciplines and methods to optimise the
Whole Life Business Impact of costs, performance
and risk exposures of the companys (physical)
assets. CIEAM The process of organising,
planning and controlling, the acquisition, use,
care, refurbishment, and/or disposal of an
organisations physical assets to optimise their
service delivery potential and to minimise the
related risks and costs over their entire life.
PAS 55-1 Systematic coordinated activities and
practices through which an organization optimally
manages its physical assets and their associated
performance, risks and expenditures over their
lifecycles for the purpose of achieving its
organizational strategic plan. IIMM The
combination of management financial, economic,
engineering and other practices applied to
physical assets with the objective of providing
the required level of service in the most cost
effective manner. National Grid Transmission
UK The set of disciplines and methods to optimise
the Whole Life Business Impact of costs,
performance and risk exposures of the companys
(physical) assets. CIEAM The process of
organising, planning and controlling, the
acquisition, use, care, refurbishment, and/or
disposal of an organisations physical assets to
optimise their service delivery potential and to
minimise the related risks and costs over their
entire life.
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AM Council Definition

• WAS!
• Preparing (or engineering) equipment for its
  intended use, so that the assets will deliver the
  required outputs of the business.
• MESA
• IS!
• The lifecycle management of physical assets to
  achieve the stated outputs of the enterprise
• AM Council

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The Plan Do Check Act Process
Act
Plan
The PDCA Process
Check
Do
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The Good AM Process - improved through Culture
and Leadership
Good Asset Management
The PDCA Process
Leadership
Culture
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The Four Key Principles
Output Focus
Capabilities
Learning Organisation
Level of Assurance
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What is Asset Management?
The PDCA Process
Good AM Processes
The Four Key Principles
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AM Council Definition

• The lifecycle management of physical assets to
  achieve the stated outputs of the enterprise
• AM Council

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Lets keep talking
Join us and grow with the journey