When we refer to Asset Management, it isn’t a department or a task, it is the way an organisation thinks and operates.
An organisation that operates with good asset management principles would likely have the following characteristics:
- Strong leadership with clearly defined accountabilities and capabilities
- A clearly stated, and well-understood purpose
- An understanding of value and the delivery levers
- Documented and embedded asset management processes
- A risk-based approach to asset management decision making
- Review and continuous improvement processes
- A learning journey for all those within the organisation
These organisations reduce or defer capital expenditure whilst achieving desired outcomes, reduce operating expenditure whilst delivering the desired services and reduce risk and increase certainty.
They achieve desired performance at the optimum cost, justify needs and expenditures against desired objectives and outcomes, increase stakeholder confidence and support and understand and deliver corporate value. And they achieve ‘alignment’, a golden thread the runs throughout the organisation ensure everyone and every activity is driving for that common purpose.
The Journey to great asset management
Firstly, you need to define the goal, what is it that you want to achieve at the end? Once you know the end goal you can determine what competencies are needed to deliver this. Then look at the roles that are needed and align those them with then required competencies. You can then go on to develop the personal development steps that the employer should provide through learning opportunities to build those competencies. The learning must then be embedded through practice and support.
The learning comes through gaining knowledge, developing skills and building experience, and then embedding the understanding and continually reviewing the impact and outcome in practice.
Here is an example of the typical asset management learning journey, mapping out the relationship between the roles and position within an organisation alongside the qualifications and learning available.
Asset Wisdom have a selection of courses that can get you started on this journey and can offer the learning support needed to help towards reaching the end goal. Take a look at our courses here.
Benefits of a good learning journey
For the business it means greater employee satisfaction, and stronger commitment to the organisation, aligned understanding and language throughout the organisation, demonstrable competence in core capabilities and career pathways and development opportunities to retain staff.
For employees it means increased sense of wellbeing, increased confidence, and happiness at work. It enables better productivity and efficiency meaning overall better satisfaction and enjoyment in your role. It provides qualifications and new opportunities for future career progression and with that comes financial rewards.
Let Us Help You Take Your Journey
Whether you are an organisation or an individual, if you are looking to start this journey for you or your employees, then contact us to discussion how we can help you achieve your goals.