Gary Ruck is a registered Professional Engineer and Project Management Professional in Ontario. He has over 35 years of experience in asset management and is a recognized expert in that field. He is currently the Director of Global Business Development at Deighton Associates Ltd.
Summary
This is Part III of a seven-part blog series on the dTIMS Agency Roadmap. Please refer to the introductory blog “Part I - An Agency Roadmap – Do I Need One of Those?” for the basis of this series.
In this installment, we will look at two of the many asset management roadmaps available: IAM and AMBC. This “look” will not suggest that one is superior to the other, but rather highlight the nuances of each so you can choose the one most appropriate for your agency.
Introduction
In the previous installment of this series, the focus was on the six fundamental questions in most roadmaps that help you evaluate your agency’s asset management (AM) practices. Several organizations publish roadmaps related to asset management: ISO, Institute of Asset Management (IAM), and Asset Management British Columbia (AMBC) are just a few. This installment will focus on the latter two organizations. These roadmaps provide a framework for the dTIMS Agency Roadmap which will be covered in much detail in the remainder of this series. Prior to this, it is prudent to explore the roadmaps in this article.
Two Roadmaps
The Institute of Asset Management Roadmap
According to IAM’s website, “the Institute of Asset Management (the IAM) is the international professional body for asset management professionals. The IAM develops asset management knowledge and best practices and generates awareness of the benefits of the asset management discipline for the individual, organizations, and wider society”.
A substantial amount of literature is available at the above link, but two more pertinent for this author are “The Big Picture” and the “IAM Conceptual Model for Asset Management”.
The following figure depicts the conceptual model.
My interpretation of this model is as follows:
Purpose & context of why AM in the first place must guide the way through the whole process
Value & outcomes must be produced and measurable through the whole process
Leadership & AM governance must lead the way within the overall purpose
Constant review and improvement are important because it will never be perfect out of the gate and must always be adaptable
The organization and its people implement the solution provided by their leadership
Strategy must be defined and articulated, and a plan put in place on how to implement said strategy
AM decision-making process is critical to execute the strategy for the particular people and the organization that is implementing it
AM software (LC Delivery) is based on the AM strategy and the AM decision rules for the organization/agency
Risk is something that needs to be established and measured for each organization and evaluated against an agency’s risk appetite
Information is what other stakeholders in the organization/agency rely on to do their jobs
This model is useful to ensure that an organization’s AM goals are clearly defined and articulated across the agency, which is paramount if asset management is to be successful.
Asset Management British Columbia Roadmap
The second roadmap explored in this article is from AMBC. Their objective is “Strengthening BC Communities Through Leadership in Asset Management. Sharing information, transferring knowledge, and building capacity for sustainable service delivery”.
The AMBC roadmap is depicted below and this guide goes into much more detail.
Overall, the AMBC roadmap is divided into six categories. The dTIMS Agency Roadmap is based on this and includes many of the competencies shown here. The categories and their relationship to dTIMS concepts are shown below.
Each of these categories is depicted as a vertical swim lane in the previous image. The Asset Management Practice Modules are the numbered items within each category. A lot of these modules are competencies of dTIMS, and it is because of this close alignment between the AMBC roadmap and the dTIMS core competencies that the dTIMS Agency Roadmap is patterned after this.
The previous blog introduced and discussed six key questions to ask when building a roadmap. To close out this blog, I wanted to connect that blog to this one and map the key questions to the AM Practice Modules. This will become useful in subsequent blogs. The following table summarizes the key questions again and shows a mapping to the AM practice modules shown earlier. The point here is these practice modules help direct our energy to specific areas to help us answer these questions.
Conclusion
These two roadmaps are excellent tools to help guide an agency’s asset management practices. One of these practices is to define an objective and then build a clear path on how to get there.
““All you need is the plan, the road map, and the courage to press on to your destination.””
The dTIMS Agency Roadmap is built upon the framework presented here. The idea of this roadmap is not unlike any other roadmap – to help you get from your current location to your destination and hopefully avoid any pitfalls along the way, all while enjoying the journey.
Around the world, dTIMS is used to help agencies through this process. dTIMS can be used for any asset type that your agency is responsible for. For example, the State of Vermont is using dTIMS to manage more than 20 of its critical assets. It is being used for the asset’s inventory and condition as well as the development of the short- and long-term financial plan. Contact Deighton Associates Ltd. to find out more about how we can help you along your asset management journey.
If you are responsible for asset management in your agency, please review these roadmaps and the accompanying material in this blog to understand the items you will require for your journey. Pack your bags, set your course, and enjoy the ride!
Please watch for future blogs that will continue this theme and go into more specifics.
Up Next: Part IV - The dTIMS Roadmap – Part I - Introduction.
Asset Management Roadmap Blog Series:
Part 1: An Agency Roadmap - Do I Need One of Those?
Part 2: The Checklist – What Questions You Can Ask to Help Build a Roadmap