Taking you beyond the maturity level of competent

As Project Director for the Institute of Asset Management (IAM), John Woodhouse, and colleagues, has been building on the existing IAM knowledge base on how to assess Asset Management Maturity, beyond the level of competence. 

Those familiar with the IAM Maturity levels will recognize the ‘Bow-tie’ model (shown below) where “Competence” (e.g. ISO 55001 certification) is shown at level 3.   Many organizations have reached this and now want to know how to go further, and how far, in the pursuit of “Excellence”.

John Woodhouse explains “The existing IAM Maturity model for asset management recognizes that there are big differences between the convergent phase to establish competence and higher levels that personalize and optimize the value opportunities. On the left side, the initial priority is to join things up in a cohesive and integrated way. This is where the IAM 6-box model offers useful coverage and structure. However, once these basics are all in place and working together, how far can we, and should we, then take it? How can we recognize and demonstrate that we are reaching the limits of what’s possible and worthwhile? This is especially tricky as such “Excellence” is highly context-dependent and continually changing. We need to ask questions that do not neatly fit into the 6 boxes. This is why the new 10-box model has been introduced – to force a wider and more holistic consideration of context-specific capabilities and performance.”

John explains the updates and changes made. “In the Life Cycle Delivery area, we simply recognize the overlapping and interdependent nature of the life cycle phases with some subtle re-formatting. Most significantly, however, we have made an explicit area of attention for recognizing the importance of organizational Context. This directs attention to how well the organization is shaped by and is able to influence, its evolving internal and external environment. Similarly, the Governance and Leadership requirements, including the integration of various management systems, are recognized to deserve specific consideration.  Locating Leadership with Governance helps to get top-level management attention and recognition.”

He continues “Risk Management has been split away from Review and Continual improvement. This was an artificial bundling in the original 6-box model and handling them separately allows for greater clarity and focus.

Finally, and perhaps the most important area of all, is Value and Outcomes. This is the section where we can focus on results and evident effectiveness of asset management. It recognizes that an Excellent asset management organization needs to be able to demonstrate that it is achieving the performance it set out to deliver and the added value that is being realized.

The new 10-box model has been specifically designed to support the targeting, assessment, and recognition of excellence in asset management. All the directional arrows suggesting internal flows have been removed, however, the new layout does reinforce some underlying process views with a flow from left to right, from resources and planning to delivery processes and on to results with the feedback loops of continual improvement.”

The new 10-box model has been designed to support the targeting, assessment, and recognition of Excellence in asset management.”

We can help you and your organization reach asset management Excellence – including how to recognize what this actually means in your particular circumstances and the business case (or value opportunity) for delivering it.  Contact us for more information.

Images ©Institute of Asset Management

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John Woodhouse

With 30 years’ experience in utilities, oil & gas, transport and other sectors, John is one of the most widely known experts in integrated asset management projects for some of the largest companies in the world.

John is a Founder and Life Fellow of the IAM; he has written 4 books, chaired the development of BSI PAS55 and represents the UK on the ISO55000 committee.

He also led the international MACRO and SALVO collaboration projects in optimised asset management decision-making.

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