The Asset Management Council Board, Technical Development Team, Chapters and staff documented key issues, challenges and achievements against the key priorities outlined in the Strategic Plan 2011 – 2015, at the recent Exchange Meeting held in Hobart from 1-3 June 2012.

This Exchange Weekend signalled the Asset Management Council’s highest level of participation, with nearly 30 leadership team members attending the meetings.The meetings also provided an opportunity for presentations and discussions on topics and impending issues for the Asset Management Council and asset management community.


Proposed Business Structure

An evolution of the Asset Management Council business structure was debated during the meetings. The modified business structure has been proposed to ensure improved delivery of outcomes and services for the ever-increasing Corporate and Individual members, and Stakeholder base. For instance, the Asset Management Council has increased its membership base to over 1500 members, has increased website visits in comparison to 2011, and in 2012 received the highest amount of Asset Management Award submissions in history.

Board Nominations

Meeting attendees agreed having board nominations for the first time in the Asset Management Council history signals strength, growth and interest in asset management within industry. The two new Board Directors are Dave Daines, Head of Asset Management, BHP Billiton Iron Ore and Glenn Ingram, Head of Asset Management, Newcrest Mining Ltd.

All Asset Management Council members are encouraged to nominate possible board candidates throughout the year to the Nominations Committee, currently chaired by Nicholas Phillips, at


Meeting attendees agreed that a mentor network is to be established for the expanding Asset Management Council Teams to help guide and challenge teams during the next 2 – 3 year period. For the next 12 months Mike McGrath has agreed to mentor the  Team and Kieran Skelton has agreed to mentor the Chapter Team.

Furthermore, a younger generation network is underway to provide engagement in and further understanding of asset management at a student and graduate level. This network will integrate with existing Chapters to provide mentorship and networking opportunities for the younger generation, as well as chances for the younger generation to discuss what they require from the Asset Management Council and industry in general.


Under the new proposed business structure, the Technical Development Team will be known as the AMBOK-web Team. The AMBOK-web Team are the custodians of the Asset Management Body of Knowledge and aim to make its content useable for members and community.

By October 2012, the AMBOK-web Team will have developed a gateway process for filtering new technical projects, an Induction Pack for new team members, and have identified and filled new team positions required.

Chapter Chairs

The Chapter Chairs held a very successful informal networking session to preview and taste local wines. This casual platform provided an opportunity for Chapter Chairs to get to know each other better and resulted in a unified commitment to work more cohesively together. We thank Byron Martin, retiring Adelaide Chapter Chair, for organising the event and for his contributions to the Asset Management Council during the past few years.

Following, the Chapter Chairs role were defined to collectively be an advisory group/commission to the CEO that understand, represent, grow and engage all members. This will be achieved by establishing an interface directly with the CEO that provides input at a strategic goal and planning level, whilst the Chapter commission operates at a tactical and operational level.

Global Participation

The Asset Management Council continues to play an important role on a global level through participation in the Standards Australia ISO Standards Committee PC 251 and TC56 IEC Dependability International Standards developments. The Australian influence on the ISO 55000 suite is strong and the position of local industry is an integral component to all decisions being made.

Social Media

There has been an increased interest in the Asset Management Council via its social media platforms LinkedIn and Twitter. Currently, there are 270 LinkedIn Asset Management Council group members (including 70 Western Australia sub-group members) and 20 Twitter followers.

To cope with the increased interest from non-members and members via  these social media platforms, a Social Media Policy for the Asset Management Council blog, LinkedIn and Twitter account is in initial stages, with expected signed off August 2012.

The Board, Technical Development Team, Chapters and staff agreed key issues and challenges documented during this Exchange Meeting will be reviewed and progress measured at the seventh Exchange Weekend in Sydney, November 2012.