The ABC’s of Asset Management with Scott Kelley
In today’s episode, our guest is Scott Kelley and the discussion is about the ABC’s of the asset management. Most of the organizations fail in the implementation of this process or they don’t get good results. That’s why they need to follow the ABC’s of Asset Management. These are:
A – Always have the “RIGHT” executive sponsor
B – Before you begin have a vision or model of the finished product or outcome
C – CONSTANT & CONSISTENT implementation.
These principles are key to the success of any Asset Management Program.
- A – Always have the “RIGHT” executive sponsor – An organization always needs to have the right executive champion who should have following traits. Are they truly committed to change? Why are they trying to make the change? Then, after they are emotionally involved in it, they need to understand that asset management is a continuous process that goes a long way. Now, as the process goes through many changes, there are four types of personalities that are involved in this organizational change. The innovators who are always trying to make the change, then there are early adopters who accept the change very quickly, support it and see through it. The third ones are in a very large percentage in every firm who need to be convinced that the change will be good. The last type is non-conformers who either resist change or just don’t contribute to it. The people who resist change can be a huge problem sometimes that’s they need to be taken care of. For these changes, the executive sponsors need to be capable of making timely decisions and provide everything that is needed.
- B – Before you begin have a vision or model of the finished product or outcome. You need to have a model to make the planning better before you start anything and achieve your goals in reasonable time and cost. For that, there are two basic approaches. First one goes around in a circle which needs consistent working. The other one is built with time like a pyramid which needs a foundation and then you can gradually make progress in it. The selection between these two depends on the structure of the organization. A firm must know where to start the process and what is their destination. For this, things like maintenance strategy, RCM, preventative maintenance and so on need to be in place. You need to know exactly what you need to have in order to start the implementation of the process.
- C – CONSTANT & CONSISTENT implementation which means that you can’t just stop the activities and you need to have the same model even if there is a diversified culture in the organization. The variables need to be controlled and the basic terms, objectives, and baselines should mean the same everywhere. These terms should be defined clearly to avoid any misunderstanding and followed in the same way. The policies should be clear to everyone and the critical processes should have the same importance in the whole organization. The standard procedures should be coherently used to avoid any risk.
Through these ABC’s, organizations can make their initiative much stronger and reduce failures. When these are placed correctly, the asset management process is more likely to be successful and effective. The support of top level management and good engagement strategies also make the implementation easier and smooth.
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