The evolution of technology has played an immensely important role in the way we manage assets, including the development of more reliable equipment, improved data capture and analysis systems and the evolution in training to support these advances. Whilst each advance in technology adds to our ability to deliver value from our assets, it doesn’t replace the fundamentals of effective asset management. Experienced asset management professionals have seen the development and implementation of numerous new technologies over the years, with many of them failing to live up to their promises, resulting in additional cost and complexity being incurred with minimal benefit. In this article, Andrew Curry, EnterpriseIS Asset Management Leader, provides his thoughts on the implementation of new technology as it relates to good asset management.
Managing
assets in the fast paced, globally connected business world we live in is a
significant challenge no matter what sector you work in. Asset operators seek
to maximise the returns they are able to generate from their assets, whilst
asset maintainers seek to minimise the costs associated with unplanned breakdowns
and ongoing maintenance. Meanwhile, company executives are continuously bombarded
with the latest information on new technologies by service providers, equipment
manufacturers and start-ups.
Whilst
it is easy to get lost in all of the new jargon, acronyms and technical
information, it is often worth taking a step back to have a look at how far we
have come with regards to the development and adoption of technology to give us
some perspective. As you can see from diagram 1, the adoption of new technology
in households (USA in the diagram) has been relatively steady over the past 100
years. In this time, we have moved from
predominantly manual industries, where the machinery was operated by single or
multiple operators, through to the automation of production lines and today’s
autonomous vehicles. This has resulted in significant improvements in
productivity at the site level, with accompanying reductions in manning,
improvements to safety and cost. To some this change will seem relatively, but
for those who have been in the workforce a bit longer, many of these changes
will seem as novel as they are new.
Experienced
asset owners, operators and maintainers have seen these changes numerous times
over the years with the introduction of computerised management systems,
advances in site communications technologies, management practices, training
and safety systems. Some of these technologies have delivered significant
benefits, but often the promises are far larger than the actual deliverables. As
Asset Management professionals, it is important for us to stay in touch with
technology developments that can assist us to improve the way we manage assets,
without being carried away. Regardless of the technology available, the essence
of good asset management remains the same:
A thorough understanding of the assets you are responsible for managing
Expertise in the application of asset management theory and methodology
Real world experience managing assets
At
their roots, all businesses are people businesses. Whilst plant, systems,
equipment, tools etc, are all vital parts of the business, at each end (and
sometimes in the middle) of these assets are the people who operate and
maintain them. This includes every technological innovation that has ever been
implemented, and likely, will be implemented. But that doesn’t mean we should
be ignorant of technology, as we need to be part of the process, including
where ever possible, lending our knowledge to those who are developing of these
new systems, services and equipment to make sure they are relevant to industry.
So
when the next “new technology” turns up at your work, jumps into your inbox,
appears in your feed or industry conference, embrace the idea for what it is,
an evolution (not necessarily a revolution) in the process. Learn about it, discuss
it with your peers, and figure out whether it is really something useful, new
and valuable for your business. If you can provide feedback to the developer,
make it clear, relevant and detailed enough so they can take it back to the
drawing board. And then go about managing assets in the best way you can for
your business or clients. As a good friend of often says, “Technological change
is always been the same, it’s only the advertising that changes…”.
#assetmanagement #technology
Get in touch with us at EnterpriseIS by calling our main office on (02 -4271-7774) to speak with Dave or through our website ( www.enterpriseis.com.au/contact-us/)
