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The Asset Management Council has released a technical publication titled ‘Framework for Asset Management Body of Knowledge’ to provide a common asset management language for better communication within organisations and across industries.
The publication discusses key asset management elements including demand management, systems engineering, configuration management, acquisition, operations and maintenance, continuous improvement, business management, and culture and leadership.
The Global Forum on Maintenance and Asset Management (GFMAM) recently came together on the Gold Coast Australia to progress the global projects being developed by the GFMAM and to discuss the international standard for Asset Management.
John Hardwick, who was recently appointed Chairman of the GFMAM said “The asset management discipline has rapidly grown over the past ten years and a number of approaches and models have been developed across the world. The GFMAM projects will support the common approach that the international Standard will provide and will equip organisations to begin the move towards this new approach.”
Our official publication Framework for Asset Management Body of Knowledge is one technical resource now available for members in our Members-only area of the website.
Keep reading for an excerpt from the publication…
One technical resource tool now available for members in our Members-only area of the website is our official publication - Framework for Asset Management Body of Knowledge.
A capability is the inherent function of a physical asset or organisation. To enable a consistent approach, Capabilities are usually described as Verb Noun set. In that way also, Capabilities can be readily associated with the required Output (the second Key Principle of asset management) and the Level of Assurance (the third Key Principle).
So how many capabilities or functions does the pencil photographed have?
As a start, consider that the pencil, its functions/output and Level of Assurance can be described in the following way, namely:
- As kindling for fire – thus the function is “supply heat” with an associated performance of “150 BTUs” with a confidence of 95% probability that the output will be delivered, when required.
- As an implement to write - thus the function is “provide a legible mark” with an associated performance of “0.2mm in width and 4km length” with a confidence of 95% probability that the output will be delivered, when required.