The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” The Asset Management Council An exploratory evening together!

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” Objectives tonight Inform interested people in KL of the strategic directions of AM Council Gain support for, and involvement in, that new direction Provide an overview of our “new” AM Model and asset management definition for discussion

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” What is the AM Council? 1.A part of The Institution of Engineers, Australia 2.Like minded people who believe that asset management provides a key competency for a better future 3.Composed of commercial companies, public enterprises and individuals: people 2.55 companies (Two of which are Supporters – more shortly)

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” AM Council’s Vision Become a leading non-aligned, not-for-profit asset management organisation in Australasia Team with other leading AM organisations, and thereby bring asset management together

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” Our Strategic approach Key Result Areas: 1.Develop Body of Knowledge 2.Promote excellence (AMEA) 3.Educate practioners and broader community 4.Support our members and our community

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” Our Five Year Plan A revised & professional management structure Involvement of Australasian industry Encourage and resource continuous learning for members and the community Promote good asset management Document good asset management practice and science.

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” What Are Assets?

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” What is asset management?

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” What is asset management? Some definitions PAS 55-1 Systematic & coordinated activities and practices through which an organization optimally manages its physical assets and their associated performance, risks and expenditures over their lifecycles for the purpose of achieving its organizational strategic plan. IIMM The combination of management financial, economic, engineering and other practices applied to physical assets with the objective of providing the required level of service in the most cost effective manner. National Grid Transmission The set of disciplines and methods to optimise the Whole Life Business Impact of costs, performance and risk exposures of the company’s (physical) assets. CIEAM The process of organising, planning and controlling, the acquisition, use, care, refurbishment, and/or disposal of an organisation’s physical assets to optimise their service delivery potential and to minimise the related risks and costs over their entire life. PAS 55-1 Systematic & coordinated activities and practices through which an organization optimally manages its physical assets and their associated performance, risks and expenditures over their lifecycles for the purpose of achieving its organizational strategic plan. IIMM The combination of management financial, economic, engineering and other practices applied to physical assets with the objective of providing the required level of service in the most cost effective manner. National Grid Transmission UK The set of disciplines and methods to optimise the Whole Life Business Impact of costs, performance and risk exposures of the company’s (physical) assets. CIEAM The process of organising, planning and controlling, the acquisition, use, care, refurbishment, and/or disposal of an organisation’s physical assets to optimise their service delivery potential and to minimise the related risks and costs over their entire life.

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” AM Council Definition WAS! Preparing (or engineering) equipment for its intended use, so that the assets will deliver the required outputs of the business. MESA IS! “The lifecycle management of physical assets to achieve the stated outputs of the enterprise” AM Council

The “Plan Do Check Act” Process Plan Do Check Act The PDCA Process

The Good AM Process - improved through Culture and Leadership The PDCA Process Leadership Culture Good Asset Management

Output Focus Capabilities Level of Assurance Learning Organisation The Four Key Principles

What is Asset Management? The Four Key Principles The PDCA Process Good AM Processes

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” AM Council Definition “The lifecycle management of physical assets to achieve the stated outputs of the enterprise” AM Council

The Maintenance Engineering Society of Australia Inc and Asset Management Council Inc “Your professional pathway to asset management excellence” Let’s keep talking Join us and grow with the journey