Strategic Asset Management

Our operating model review and design services are crafted to ensure your Asset Management System is robust and effective. We begin by understanding the drivers behind the need for an operating model review and potential change. We can tailor our approach to address your specific challenges and opportunities by identifying these key drivers. Additionally, we identify key barriers to prevent any proposed changes, ensuring that our strategies are practical and implementable.

We start by defining a draft Asset Management System to establish a clear scope of asset management, ensuring all stakeholders have a common understanding of their functions. Through comprehensive interviews, we identify the roles and responsibilities of each stakeholder, followed by an evaluation of asset management effectiveness across your organisation. We identify any functional gaps or performance issues hindering effective decision-making. To address these, we develop an RASCI model that displays how asset management functions are currently delivered and offers options for performance improvement. By benchmarking against other asset management organisations, we gather insights into structure, effectiveness, and design considerations. In developing our target operating models, we apply several design principles to ensure that the models are comprehensive and tailored to your organisation’s needs. These principles guide us in creating effective, efficient, and sustainable asset management systems. Our thorough analysis results in detailed findings and targeted operating model adjustments, which we develop in collaboration with your executive team to ensure alignment and enhance overall performance.

Our Asset Information Strategy services provide your organisation with the most critical asset information and supporting capabilities to meet asset management and corporate objectives. We start by identifying the maturity of your asset information capabilities and focusing on root cause issues that impact the quality and confidence in asset management decisions. Our Asset Information Strategy identifies what matters most, sets a clear future direction for asset information, and informs the prioritisation of initiatives, business cases, resource allocation, and improvement plans. The strategy lets your organisation have the right information at the right time, enhancing value through better business decisions.

Key Aspects of Our Asset Information Strategy Services:

• Current State: We assess the effectiveness of your asset information in supporting decision-making and identifying key issues
• Future Vision: We outline the future of asset information for your organisation and how the Asset Information Strategy can deliver value
• Strategic Alignment: Our strategy aligns with international standards and ensures that your organisation has a clear path to realising value through improved asset information management
• Governance and Implementation: We guide the best governance practices for asset information management and a practical roadmap for delivering the Asset Information Strategy
• Value-Based Approach: We target key business decisions with high-value uplift potential. Through stakeholder interviews, we identify and prioritise the most impactful key business decisions
• Roadmap Development: We collaborate with the executive team and key stakeholders to define a practical roadmap to achieve the desired future state

We have transformed asset management systems with our betterAMF solution, an interactive digital solution tailored to your organisation. Our customised templates consolidate all necessary information for each Asset Management Framework element in one place.  betterAMF is the starting point for accelerating development. Here’s how we work with you to develop and enhance your Asset Management Framework:

• Document Review and Workshop: We comprehensively review your current asset management documents. This is followed by a workshop with your senior management team and key stakeholders to create a shared understanding of the asset management system
• Development of betterAMF: We work with you to develop, update, and tailor your Asset Management Framework, including all necessary content, putting it in your business context, and linking existing documentation. It involves writing introductory sections and a CEO statement, documenting descriptions, processes, and governance models, establishing a RACI matrix for elements, demonstrating alignment to well-known industry standards, and deploying your Asset Management Framework in your or our managed SharePoint environment
• Handover and Training: We train your staff to maintain the Asset Management Framework, assist with its launch, and integrate it with the Asset Management Improvement Plan for successful adoption and implementation

To assess the maturity of your asset management practices, we adopt a combined approach, including desktop documentation review, stakeholder engagement and discussion, and on-site investigations.  This approach allows us to understand the level of documentation in place to guide effective asset management decisions, the extent to which documentation translates to effective decision-making, and, ultimately, whether outcomes realise value through your infrastructure base. 

We undertake assessments in line with standards and industry practice guidelines, allowing us to understand maturity against the requirements of a range of standards and guidelines, including  ISO 5500X*, IAM**, and GFMAM*** frameworks. Our assessments allow you to understand gaps in required documentation and ‘bottlenecks’ where documentation is not translating into effective decision-making and infrastructure interventions.

As part of our maturity assessment, we provide an improvement roadmap plan. This plan is not just a list of areas that need improvement, but a strategic guide that targets priority gaps, is practical, and can be achieved within a required timeframe.  Our goal is to provide you with a clear basis for your project resource planning to successfully implement these improvements and enhance your asset management practices.

* International Standard  – Asset Management ** Institute of Asset Management; ** Global Forum on Maintenance and Asset Management   

Once your Asset Management Framework is established, we can also support you with developing its key documents and content. We have facilitated workshops with many asset-intensive organisations across ports and maritime, water, mining, and power sectors to develop foundational documents such as asset management policies, asset management objective statements, and levels of service registers.  

Our Strategic Asset Management Plans help you set the overall future direction for asset management in your organisation and clearly view identified improvement initiatives. Strategic Asset Management Plans also provide a clear line of sight between corporate aspirations and individual Asset Management Plans, ensuring that everyone has the same understanding of how decisions and interventions on the ground can contribute to achieving organisational objectives and desired stakeholder outcomes. 

In our experience, many asset management documents are lengthy, difficult to engage with, and digest.  As a result, they become ‘shelfware’, gathering dust over time and read by few people who practice asset management within organisations.  Our Strategic Asset Management Plans, in contrast, are concise, effective documents that are easy to engage with and digest.  The interactive, workshop-based approach to  their development ensures they become embedded in your AMF and are “operationalised”, across organisations, regularly referenced and informing your practice.

In addition to formal asset management maturity audits against established standards and guidelines, we conduct rapid Asset Management Health Checks.  These are often a useful way to quickly identify the areas of your practice where the greatest benefit from improvements can be realised quickly.  While these health checks include documentation review, an increased focus is placed on stakeholder interviews to quickly establish what and how decisions are being made in practice.   As a result, the maturity of fundamental, enabling aspects of good asset management practice (e.g. asset data/information/knowledge management, understanding criticality and risk) are identified quickly, allowing practical improvements to be implemented.

We have also completed technical reviews and audits on specific aspects of an Asset Management System, such as;

• Prudency/efficiency testing of capital programs in regulatory finding submissions
• Predictive capability and validation of asset deterioration models
• Effectiveness and ease of use for decision support tools and computerised maintenance management systems

For more details, please refer to our client projects.