Somebody once told me that 95% of the lifecycle cost of asset ownership is predetermined at the end of the design phase. What impact does this have on the continuous improvement of asset management during the operations phase? Why should I bother if I can only influence 5% of the life cycle cost?
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We are heading into, or are already in, a severe economic downturn. In a heavily resource based and hence asset intensive economy such as Australia, this will put pressure on costs and asset management activities will wear much of the pain. We are already seeing deferments and cutbacks in maintenance activities in organisations that will potentially negatively impact the long term integrity and cost of assets and hence the value these assets bring to the business. How can this vital business tool be explained and sold to boards and executives as a key tool to help them manage their businesses through and beyond the current downturn?
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