ASSET MANAGEMENT FRAMEWORKS - IT TAKES COURAGE TO BRING THEM TO LIFE

“IF YOU ALWAYS DO WHAT YOU’VE ALWAYS DONE, YOU’LL GET WHAT YOU’VE ALWAYS GOT,” ANONYMOUS.

Helping my clients navigate the journey of shaping and implementing an Asset Management Framework, reminds me of when I first moved into management consulting, where I spent a lot of time advising CEOs of professional service firms.

They were leaders that were courageous and hungry to make a change from what was the norm, to something completely different. They wanted to move from traditional services to providing their clients with real business value. To this day, I see leaders wanting to embed a culture of value, not just tradition. Specifically, in asset management, great leaders want clear lines of behaviours that align to their business outcomes, not just an engineering solution. Their deepest fear is seeing all of the work put into developing effective strategies, efficient plans and accurate condition assessments ending up on shelves collecting dust.

WHAT DO WE DO THAT IS DIFFERENT?

Firstly let me tell you what it is these enlightened asset management leaders do:

• It starts by envisaging where you want to be and collaboratively developing robust strategies and actions that align with business plans.

• Then working as a team with colleagues and advisers to co-design a framework bespoke for the wider business needs as one size doesn’t fit all.

Does this resonate with your journey to better asset management practices? It is similar to the asset management work my colleagues and I have been facilitating with our clients wanting to embed real business change.

The successful journeys were not just about the outcome but being equally focused on how to get there. My early CEO clients made a commitment to the cause and typically those who got the best results, sourced and funded a dedicated and appropriately skilled internal resource to drive the change. This resource known as the ‘Agent of Change’ was the voice of the CEO, focussed and enthusiastic, pushing through the barriers and building capacity and resilience in the organisation. They were given authority to embed the framework into the business as usual operations.

“It costs money to produce quality, especially when we expand into fields where we have no contractual obligations and can expect no pay for our efforts. We may even antagonise people by poaching on their domain or by upsetting and criticising traditional procedures,” said Ove Arup, 1974.

Attributes for successful leadership in challenging the status quo and transforming asset management.

(Source: Arup)

WHAT DOES THIS MEAN FOR YOU?

I am still working with leaders who are courageous and hungry for improved asset management approaches. I see them recognise that they have a choice around normal discomfort in the pain of change, versus leading their people into challenging the status quo. They identify the need for a better way and see the value in the performance of their assets directly aligned to the business needs. They say to me, it’s not just about getting certification against the asset management standard, it’s about the business benefits we will realise through collaboration, co-design, commitment and capacity building.

I have mentioned the word ‘courageous’. Here are some of my thoughts on what I believe sets a courageous asset management leader apart from one who is not.

1. Focus on the outcomes or business benefits you want to achieve for your business and commit to making the changes to your asset management practices needed to achieve those.

2. Learn from others in similar or diverse sectors and don’t be afraid to share your learnings with others.

3. Be prepared to invest in the journey as positive and aligned change won’t happen by accident. It needs a vision, a plan and the resources to enact them.

4. Understand that the change won’t happen overnight. To ensure it ‘sticks’, you need to get the organisation behind you.

5. Find a champion who will be your voice about better asset management practices.

6. Remember capacity building from within and driving the culture you want, will ensure resilience and commitment from all those involved.

Author: Peter Scuderi is an Arup thought leader in Assets and Operations.