The Challenge
Essency Consulting was engaged to improve asset management processes and systems for the Region, using the ISO 55000 standard as a benchmark for best practice.
Scope of Work:
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Conducted a district-wide asset management maturity assessment aligned with the ISO 55000 framework
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Ensured alignment with State-wide TMR Policy (TIAM) and Strategy (Total AMP)
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Reviewed district-level processes, systems, resources, and capability
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Developed and delivered six targeted Asset Management training packages
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Designed and implemented a comprehensive Asset Management Improvement Plan
Our Approach
An initial asset management maturity assessment was undertaken for the Metro Region, using the ISO 55000 framework as the assessment methodology.
Following this, a comprehensive Asset Management Improvement Plan was developed and implemented over a one-year period. This plan outlined key improvement and training activities, defined timeframes, and identified resource requirements to support successful delivery.
As part of the review, we assessed the following key areas:
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Strategic and tactical asset management planning
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Lifecycle and operational planning and delivery
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Quality and performance management systems
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Understanding of stakeholder needs and expectations
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Existing asset management policy and documentation
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Planning processes and governance
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Actions in place to address risks and opportunities within the asset management system
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Asset management objectives and strategies for achieving them
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Stakeholder engagement practices
Project Outcomes
The project delivered substantial improvements in asset management capability across the Metro Region. Key systems, processes, and frameworks were either enhanced or newly developed and implemented, resulting in stronger alignment with ISO 55000 standards.
Key Deliverables:
Frameworks and Strategies
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Metro Region’s Asset Management Framework
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Regional Strategic Asset Management Plan (SAMP)
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Lifecycle Plans (LCPs) developed for each asset category
Governance and Alignment
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Clear understanding of the organisation and its operating context
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Documented stakeholder needs and expectations
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Updated regional asset management policies and objectives
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Defined roles, responsibilities, and authorities across the organisation
Risk and Opportunity Management
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Action plans to address risks and opportunities for the asset management system
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Enhanced operational planning and control
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Processes to manage organisational change and outsourced services
Support and Capability
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Competency assessment and development framework
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Resource planning and targeted improvement recommendations
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Draft Performance Management Framework to support continuous improvement
This initiative has laid a strong foundation for sustainable, best-practice asset management across the Metro Region.
