By Chris Lloyd
The 1st booklet of its sort, Asset administration deals entire and available assurance of the entire significant elements of the topic, offering a useful connection with these operating in or studying approximately asset-intensive industries
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Extra resources for Asset Management: Whole Life Management
Without a group understanding of the importance of each functional area to overall service delivery, it was possible to become preoccupied with capital improvements to functions that actually contributed very little to overall service. The development of the service-oriented approach, therefore, placed emphasis on determining the relative 42 Copyright © ICE Publishing, all rights reserved. Case study: Arts Victoria importance of each functional space. Where organisations found this difﬁcult, they were asked to think about what they would want to re-establish ﬁrst if all their facilities were destroyed by ﬁre.
In practice, how would a bottom-up as well as a top-down approach to strategy development be organised? 4. What do you think the right balance would be? 1. REFERENCES BSI (2008) PAS 55:2008. The speciﬁcation for the optimised management of physical assets. Parts 1 and 2. British Standards Institution, London. EC (2000) European Union Water Framework Directive 2000/60/EC of the European Parliament and of the Council of 23 October 2000 establishing a framework for community action in the ﬁeld of water policy.
Asset health reviews are undertaken on each major asset group within each business unit annually. The review form is on a single page, designed to provide visualisation of asset performance, costs and the ability of the asset to continue to perform as required, over a minimum 5 year time horizon. The key elements within the review are integrated ﬁnancial data and ﬁnancial performance, service performance data, safety, people, risks, planned changes, criticality, condition and serviceability. In combination, these provide a look back at past performance, the current state and a prediction of future capability to meet requirement.
Asset Management: Whole Life Management by Chris Lloyd