The AMC Melbourne chapter conducted a joint technical session with the Australian Cost Engineering Society (ACES) on the use of the Total Cost Management Framework (TCMF) when implementing ISO 55001 on the 18th July, 2017. Tom Carpenter and Dwayne Pretli were the guest speakers.
Tom spoke about the relevance of the TCMF for asset management practitioners, particularly for measurement and reporting of the value derived from the assets under management. Dwayne talked about his experiences on the first accreditation in Australia to the ISO 55001 standard – for management of water treatment plant at the MCG – and the use of total cost management methods to record, track and report benefits to the asset owner. About 70 people attended the event on a chilly Tuesday evening in Melbourne.