Asset Management
Asset Management
With certified practitioners, AML offers a formalized approach to asset management that is vital for any business that seeks to achieve maximum ‘Value for Money’ from its capital investment budget.
ISO 55000
A core practice within AML is Asset Management that aligns with the ISO 55000 standards. Too frequently, AML is witness to companies and organisations that fail to realise the implications of asset management decisions at all levels of operations.
Value for Money
Implementing good asset management practices takes time. You need to consider annual budget cycles, competing priorities, and ensuring that assets aren’t being gold plated, nor neglected. It takes a skill set that is not readily available in the market.
In-depth Analyses
One of the main aims of using asset management is to deliver the capability for the lowest overall cost. In practice, there are three phases of an asset:
- Concept and Planning
- Procurement and Construction
- Operations and Maintenance (O&M)
The first two phases are fast paced, new, exciting and get all attention. The O&M side is repetitive, business as usual (BAU), not as glamorous, and always faces the question of ‘can we defer that for another year?'
Implementing good asset management practices takes time. You need to consider annual budget cycles, competing priorities, and ensuring that assets aren’t being gold plated, nor neglected. It takes a skill set that is not readily available in the market. We are all aware of the construction boom that has been occurring in Australia, but very few even get training in how to manage assets over their life.
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