The Asset Journal, Volume 11, Issue 3
Much focus has been put towards Infrastructure development especially in the Eastern States that have a large and complex existing Infrastructure compared to Western Australia and Northern Territory. We hear much about urgently needed renewals or replacement and extension of existing Infrastructure. That naturally extends the attention to the needs for Assets and new Infrastructure. Planning levels in public Infrastructure is generally 40 years plus and in cases extend beyond a hundred year horizon. Good planning methodologies and tools are critical not only for the justification of investment, but also in the forecasting of sustainability of the chosen solutions. Regulators and Investment Advisors are keen to see transparent methodologies for determining appropriate levels of investment and the resulting Asset solutions and the sustainment budgets. The case for following an Asset Management system such as provided in ISO 55001 gains more and more persuasive power.
We have seen in the last few years that many organisations that have achieved success in improving their practices of managing their Assets. It is also clear when looking especially at the private sector, that much work is still needed. Many Senior Managers shy away from making wide reaching changes in their organisations to align with the Asset Management Systems Standard to improve the way assets are managed and by extension, the organisations operate. Strategic and Operational planning are essential parts and a starting point for good Asset Management. How this planning process affects the capability of an organisation and how maturity in Asset Management matters, is demonstrated in the series of articles provided in this edition. Case studies form Australia and Canada provide interesting comparisons of issues that the Electricity Industry faces and provides good learning points for all types of Organisations, not only public utilities.
The series of webinars and technical presentations that are planned over the next few months by the Asset Management Council Chapters and Nationally provide further opportunities to find out how Asset Management provides a catalyst for improving specific aspects of managing an organisation and case studies that show how changes were implemented. Members can also search for the specific events and knowledge elements in the large Asset Management Body of knowledge that is available on the website. Why not make the time to participate either in a Chapter event or a webinar? And as always, we welcome your contributions to that Body of Knowledge and your feedback.
Editor in Chief