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In common with most infrastructure organisations, London Underground is under significant pressure to improve the efficiency and effectiveness of its operations and to deliver more for less. Asset management has a major role to play in achieving this. London Underground has been monitoring the unit costs of asset maintenance for almost 10 years. This has provided a rich data set that has enabled asset...
Asset management (AM) discussions frequently come around to how to prepare compelling investment cases to Top Management in a language that they understand. The objective of this paper is to propose a way in which the AM concept itself may be made more compelling to Top Management and Leadership. The paper argues that a macro representation of asset management in a general organizational context may...
Beneath the network of roads and pavements is a network of pipes and cables delivering utility services to properties and servicing the road network itself. Whilst some buried asset locations are recorded assiduously on the latest geographical information systems, some asset owners are still working off scanned record drawings which are decades old and the accuracy is variable. Maintaining these assets...
In any optimized asset management system, risk management is considered to be one of the core elements. International asset management standards like PAS 55, ISO 55000 has integrated risk management with the asset management process throughout the life cycle of assets. Risk based asset management guides the organization to perform the trade-off on both cost and risk, and enables a structured decision-making...
As corporate members of the Institute of Asset Management, Carillion recognised a number of key deliverables that would aid progression towards successful ISO55000 Accreditation. Forming a number of business objectives, from overall business strategy to full accreditation the programme in simplistic terms, ensures good working practices as basic fundamentals behind ISO5500 are implemented.
Performance measurement of asset management systems remains a poorly understood area both in terms of industrial practice as well as academic research. Continuous improvement of asset management systems require a robust performance measurement system that will allow organisations to understand the performance of various elements within the asset management system - thereby ensuring that (i) organisational...
The paper describes the planning, design and structure of a new module in Asset Management to be delivered from January 2015 at a major UK university. The module, termed a `Unit', is an option for final year MEng students as part of their Engineering Council's Accredited Higher Education Programme. The authors plan to follow up with a `lessons learned' paper in 2015.
How does a small New Zealand energy company drive mutual benefits from outsourced energy partnerships with a diverse mix of industry partners and customised asset base? Pioneer Generation Limited (Pioneer) is a New Zealand based, community trust owned, generation company that has assets with a replacement value of $500m. A number of these are deeply embedded within, and are integral to, our Partners'...
This paper (containing material originally published in [1]) summarises what I have learned about Asset Management during the last 30 years. Crucially, Asset Management has to be business focussed, because a business is affected by what an asset does, not what it is. It is also very beneficial to take a broad view, since the benefits of Asset Management may not lie where you first think; building...
This paper sets out a methodology for the asset management transformation of a complex organisation operating multiple sites and extensive fleets of physical assets. The approach is based on PAS 55:2008 and ISO 55000 specifications for an asset management system. Case study material is utilised to draw out specific approaches for applying the techniques to deliver tangible performance improvement...
The following topics are dealt with: asset management system; management of change; organisational context; performance evaluation; culture; and planning.
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