Over the past eight decades, they way in which industry and government manages its infrastructure and equipment has evolved from a focus on repairing failed assets to managing the whole of the life of the asset to achieve business goals. There have been four key transitions towards:

• Planning, scheduling, and controlling work
• Predicting potential asset failure
• Improving reliability and eliminating defects
• Aligning capital employed to business goals

Each time, leaders have looked to the maintenance team to take carriage of the new way of doing these things. The progress has been natural, the delivery of ownership organic, and not necessarily wrong. The issue is that:

• Maintenance is a process driven activity
• Reliability is the characteristic of a process or system
• Asset Management is a business system

So, while executives naturally associated reliability and asset management with the maintenance manager because of the common denominator of infrastructure and equipment, they didn’t appreciate that each field required different skillsets and knowledge.

Fortunately, maintenance teams are pragmatic, versatile and solution oriented. With this presentation, I hope to help you articulate the Asset Management challenge to your business and suggest practical ways to benefit from the progress.