City Scape

Asset Decision Framework for Optimal Value

Content and Description

Content View
Viewable / downloadable shared learning appears here for logged in members only. (Some records have no viewable / downloadable items. Check the "Content Description" tab.)
Content Description
Original date: 
Monday, April 16, 2018
Most organisations have implemented processes and tools to collect data to facilitate informed decision-making. Often, they will seek out best practices and measures to assist in decisionmaking or rely on technology to guide the basis of decisions. However, in many cases these same organisations approach a gap in tactical deployment and the ability to draw a connection to the follow-up or pre-emptive actions required to derive value from assets. This presentation will review the processes for establishing a framework for alignment and priority setting, while looking at the techniques employed for resiliency and risk management using a technology agnostic approach. We will review potential data sources which can be leveraged for decision-making and which reflect the needs and current state of the business environment. Further, we will discuss the relationship and application to the decision-making process. An overview of the fundamental outcome of key performance indicators and visualized metrics will be demonstrated. Finally, we will investigate the influence on decision making and the level of data confidence.
BoK Content Source: 
Practitioner Produced
BoK Content Type: 
Asset Management Framework Subject: 
01 Strategy & Planning, 1.03 Demand Analysis, 02 Asset Management Decision Making, 2.01 Capital Investment Decision-Making, 2.02 Operations & Maintenance Decision-Making, 2.03 Lifecycle Value Realisation, 04 Asset Information, 4.03 Asset Information Systems, 06 Risk and Review, 6.01 Risk Assessment & Management, 6.05 Assets Performance & Health Monitoring
Maintenance Management Framework Subject: 
01 Business & Organization Context, 1.0 Business & Org Context General, 02 Maintenance Program Mgmt, 2.5 Asset ID & Hierarchy, 03 Asset Strategy Management, 3.2 Performance Measurement & Optimization
Author Title: 
Asset Management Consultant
Author Employer: 
City of Mississauga
Author Bio: 

Nigel is an award winning Professional Engineer and Certified Asset Management Assessor for ISO55001.  With a successful history of enterprise asset management program leadership for large public sector and utilities organizations, he is currently the Asset Management Consultant for the City of Mississauga’s facilities portfolio.  Nigel is very involved in PEMAC as the president of the GTA Chapter and a director on the national board.