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Melbourne – Achieving TOTEX Success: Integrating People, Processes and Systems in Asset Management Planning (A Strategic Approach to Public Private Partnerships)

24 September, 2025 @ 5:30 pm - 7:00 pm AEST
FREE FOR MEMBERS

Public–Private Partnerships (PPPs) carry inherent financial risks, particularly when fixed-price contracts fail to reflect total lifecycle costs. To manage this, PFM adopted a Total Expenditure (TOTEX) Strategic Asset Management (SAM) approach that integrates people, processes, and systems to align CAPEX and OPEX decisions for long-term value.

The two key barriers—poor data quality and limited practitioner capability—were addressed through the development of two foundational enablers: the Asset Management System (AMS) and the Asset Management Community of Practice (AMCoP). The AMS standardised tools and processes, while the AMCoP fostered collaboration, upskilling, and knowledge sharing. These enabled the creation of high-value resources such as a Lifecycle Cost and Maintenance database.

In practice, these frameworks supported accurate data capture and scenario modelling within PPP contracts, driving evidence-based decisions. The outcome was optimised lifecycle planning and risk management, demonstrating how a structured, data-driven approach can mitigate PPP risks and achieve TOTEX-aligned outcomes.

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Mincheol Lee is a seasoned asset management professional with extensive experience across strategic, tactical, and operational levels of asset-intensive environments. Known for his outcomes-focused approach, Mincheol specialises in developing and executing comprehensive asset management strategies that align organisational objectives with effective risk management, cost control, and lifecycle performance optimisation. With hands-on experience in delivering ISO 55001-aligned systems and governance frameworks, Mincheol brings deep capability in full lifecycle asset management, including asset data modelling, lifecycle cost analysis, CMMS configuration, and the integration of digital engineering solutions. He has successfully led the design and implementation of asset information management systems, technical maintenance plans, and configuration control frameworks to enable reliable, data-driven decision-making. A strong collaborator, Mincheol works across disciplines to uplift asset management maturity and build Communities of Practice that foster knowledge sharing, capability development, and operational excellence. His work continues to support optimised total cost of ownership outcomes across complex infrastructure portfolios.

Details

Venue

  • Grand Hotel (Gaylord Restaurant Conference Room)
  • 33 Spencer Street
    Docklands, VIC 3008 Australia     + Google Map