Last Wednesday evening, our Melbourne Chapter hosted a packed session exploring how a Total Expenditure (TOTEX) Strategic Asset Management (SAM) approach can reduce Public–Private Partnership (PPP) risks and deliver long-term value.
Speaker Mincheol Lee, from Programmed Facility Management, shared how PFM aligned CAPEX and OPEX decisions across the contract lifecycle by integrating people, processes and systems. Two common barriers—poor data quality and limited practitioner capability—were addressed through key enablers:
- Asset Management System (AMS): standardised tools and processes
- Asset Management Community of Practice (AMCoP): fostered collaboration, upskilling and knowledge sharing
These foundations enabled accurate data capture, scenario modelling and the creation of a Lifecycle Cost & Maintenance database, supporting evidence-based decisions and optimised lifecycle planning and risk management.
📄 Want to dive deeper?
A copy of the presentation is available to members for download through the Asset Management Body of Knowledge (AMBoK) here.
A big thank you to our Melbourne Chapter for arranging and hosting, and to Mincheol Lee for an engaging and insightful presentation.
Enjoy a selection of photos from the evening below.
