Holistic physical asset management

Physical Asset Management - An Organizational Challenge

A holistic approach to managing physical assets has become a top priority for organizations both in the public and private sectors. For years to come considerable amount of funds is being committed to invest in physical assets and asset management practitioners are honing their skills to be part of the huge undertaking.

But there is one key oversight: how will organizations cope with the implementation of a holistic physical asset management approach? In many organizations there exists a lack of collaboration and alignment achieve organizational strategic goals. Why? Organizational silos, the very silos that must be major contributors to the successful implementation of the holistic physical asset management approach.

​Physical Asset Management - An Organizational Challenge explores how the physical asset management philosophy fits within an organization, details the challenges it faces, and reviews the different functional areas dealing with physical assets. Existing gaps and overlaps are uncovered, exposing those that hinder collaboration and alignment. Written with asset management practitioners in mind, as well as everyone involved with physical assets, this book and its case studies will aid organizations to be better prepared when they embark on the journey of holistic physical asset management.

HPAM Game®

The HPAM Game® is an interactive team approach learning tool to help Organizations understand the challenges on their path to implementing an OWPAM system. The objective of the Game is to look at the key physical asset lifecycle strategic & tactical activities and match them with corresponding key functional areas to foster coordination and collaboration across the organization and achieve alignment. It helps Organizations to:

• Understand the whole spectrum of strategic and tactical activities required for a holistic and organization-wide physical asset management approach.

• Recognize and discuss the challenges involved in implementing an OWPAM system Identify ownership issues, gaps and overlaps that could exist and that are critical for the successful implementation of physical asset management.

• Identify top priority areas based on the organizational context to implement an OWPAM system aligned with the organizational objectives and to enable the realization of value.

The HPAM Game brings participants together to educate them on the asset management activities, to make them understand the importance of ownership and involvement and be aware of the implementation challenges. Participants have the opportunity to debate among themselves about the physical asset lifecycle strategic & tactical activities: how they apply to their organizational context, how important they are from a whole lifecycle perspective and the issues surrounding their effective implementation.

Organization-Wide Physical Asset Management - A Systems Approach

Managing physical assets is a cooperative and cross-functional discipline that demands a solid governance structure, strong leadership, and well-coordinated policies and practices to meet organizational objectives and requirements in the context of their operations. Most current physical asset management systems tend to be silo-based in that they have been developed by a particular section or function for use only in that function. The effects of the isolated function-specific asset management systems are widespread and have significant implications, creating gaps and overlaps in business processes or impeding the decision-making processes.

Organizations are investing lots of money and resources in building their physical asset management systems. However, for far too long the problem is that the focus has been mostly on the tools and methodologies. These companies need to undergo a paradigm shift focused towards creating a system of organization-wide physical asset management, and moving away from the silo approach. This transformational approach will provide:
• an improvement in communication.
• the ability to assess physical assets across the organization.
• an alignment of all functional areas within an organization to help reach company objectives.

This book will benefit practitioners and students enrolled in asset management programs, helping to change the way they think and implement physical asset management to a more organization-wide, systems approach that will improve all functional areas of the company.

The OWPAM® Approach

OWPAM® Approach is an introductory session to walk through the approach to implement an effective organization-wide physical asset management system. OWPAM® Challenges is a highly interactive learning tool with a team approach to help organizations on their path to implementing organization-wide holistic physical asset management. OWPAM® Planning (Coming Soon)

The OWPAM® Approach provides organizations with a structured approach to navigate the complexities and interdependencies inherent in the implementation of an organization-wide physical asset management system to achieve alignment and better coordination.