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The Asset Management Council

The Asset Management Council. An exploratory evening together!. Objectives tonight. Inform interested people in KL of the strategic directions of AM Council Gain support for, and involvement in, that new direction

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The Asset Management Council

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  1. The Asset Management Council An exploratory evening together!

  2. 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

  3. What is the AM Council? • A part of The Institution of Engineers, Australia • Like minded people who believe that asset management provides a key competency for a better future • Composed of commercial companies, public enterprises and individuals: • 1400 people • 55 companies (Two of which are Supporters – more shortly)

  4. AM Council’s 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

  5. Our Strategic approach Key Result Areas: • Develop Body of Knowledge • Promote excellence (AMEA) • Educate practioners and broader community • Support our members and our community

  6. 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.

  7. What Are Assets?

  8. What is asset management?

  9. 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 company’s (physical) assets. CIEAM The process of organising, planning and controlling, the acquisition, use, care, refurbishment, and/or disposal of an organisation’s 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 LifeBusiness Impact of costs, performance and risk exposures of the company’s (physical) assets. CIEAM The process of organising, planning and controlling, the acquisition, use, care, refurbishment, and/or disposal of an organisation’s physical assets to optimise their service delivery potential and to minimise the related risks and costs over their entire life.

  10. 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

  11. The “Plan Do Check Act” Process Act Plan The PDCA Process Check Do

  12. The Good AM Process - improved through Culture and Leadership Good Asset Management The PDCA Process Leadership Culture

  13. The Four Key Principles Output Focus Capabilities Learning Organisation Level of Assurance

  14. What is Asset Management? The PDCA Process Good AM Processes The Four Key Principles

  15. AM Council Definition “The lifecycle management of physical assets to achieve the stated outputs of the enterprise” AM Council

  16. Let’s keep talking Join us and grow with the journey

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