The changing attitudes, understandings of physical assets, and market conditions bring a broad array of implications for those responsible for asset management. The majority of these can be explained as "new accountabilities." Many of these are accountabilities leveled at, or within, corporations themselves. However many will also be directed at the individuals taking or overseeing these decisions, often with daunting consequences for failure.
New Levels of Accountability
As previously highlighted, asset managers are beginning to find themselves increasingly called to account for the decisions that have been taken.
Decisions will increasingly be judged against:
* Higher standards for legislative and regulatory compliance
* Increased understanding of the role of assets in areas of productivity, cost, and quality
* Risk of damage to the corporate image of the company
* Failures to adequately understand production needs
* Failure to accurately determine capital planning requirements, based on current physical assets and future requirements
This leads to two conclusions. Firstly those responsible for taking decisions regarding physical assets need to have a deep understanding of all of the issues and implications of those decisions, as well as the necessary authority to act on them.
Secondly it will require the ability to adequately defend decisions taken. Not only in terms of considerations internal to the company, but also in terms of defence in the case of potential legal actions. It is this second conclusion that has the most impact for maintenance managers of the future.
The ability to state that asset management decisions are defendable is paramount. This means that they have been taken by qualified and experienced people; in a manner that is in line with internationally accepted standards on the issue; and in a manner that provably complies with the first two premises. That is to say, a manner that is totally auditable.
Although these may stretch into many areas of corporate management, there are three "in vogue" elements of today's market that are particularly of concern.
They are:
* ERP/EAM decision making and management
* Outsourcing of asset management functions
* The use of call centers as viable asset management tools
New Levels of Accountability
As previously highlighted, asset managers are beginning to find themselves increasingly called to account for the decisions that have been taken.
Decisions will increasingly be judged against:
* Higher standards for legislative and regulatory compliance
* Increased understanding of the role of assets in areas of productivity, cost, and quality
* Risk of damage to the corporate image of the company
* Failures to adequately understand production needs
* Failure to accurately determine capital planning requirements, based on current physical assets and future requirements
This leads to two conclusions. Firstly those responsible for taking decisions regarding physical assets need to have a deep understanding of all of the issues and implications of those decisions, as well as the necessary authority to act on them.
Secondly it will require the ability to adequately defend decisions taken. Not only in terms of considerations internal to the company, but also in terms of defence in the case of potential legal actions. It is this second conclusion that has the most impact for maintenance managers of the future.
The ability to state that asset management decisions are defendable is paramount. This means that they have been taken by qualified and experienced people; in a manner that is in line with internationally accepted standards on the issue; and in a manner that provably complies with the first two premises. That is to say, a manner that is totally auditable.
Although these may stretch into many areas of corporate management, there are three "in vogue" elements of today's market that are particularly of concern.
They are:
* ERP/EAM decision making and management
* Outsourcing of asset management functions
* The use of call centers as viable asset management tools
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