The Journey to Success with Asset Management by Steve Hankins, CIO at Morgan Foods
Terrence OHanlon
CEO & Founder | Reliabilityweb.com | Champion of Enterprise Reliability | Creator of Uptime Elements™ | Leading Global Thought Leader in Asset Management & Reliability
According to Uptime Elements Reliability Framework and Asset Management System, "Asset Management" is defined as the coordinated set of activities to realize value from assets over their lifecycle. It is an intentional practice that is driven by policy, strategy and plan.
What activities are you coordinating? The graphic below shows the seven "requirements" of ISO 55001 Managing System for Asset Management [para 4 through 10]. These activities are coordinated across the asset lifecycle with internal and external stakeholders who have concerns related to the assets and the objectives they are set to achieve.
4.0 Context
5.0 Leadership [Management]
6.0 Planning
7.0 Support
8.0 Operation
9.0 Performance Evaluation
10.0 Continuous Improvement
The strategy and plan is informed by risk and aligned to deliver organizational objectives.
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Asset management has become a more frequent topic at Reliabilityweb.com conferences since 2013. There are many approaches offered, but in my opinion many asset management programs are heavy on technology and governance and fuzzy on value.
I recently had an opportunity to hear the story of Morgan Foods Asset Management journey. It is a wonderful story with a lot of lessons for the rest of us if we are willing to listen, consider and act.
I do not get to see and hear every presentation that gets delivered in the Reliabilityweb.com conferences in real time, as much as I wish I could. I am very fortunate to work with a top-notch production and multimedia publishing team as I eventually get to review all the presentations as they progress through the publishing cycle.
Every one of the Reliabilityweb.com conference presentations are rich with asset knowledge and reliability leadership and each is well worth listening to multiple times.
Pay Close Attention
On occasion, some are so powerful and centered on results that I immediately cease all other activity and listen as intently as possible to get as much in sight as I can from the delivery.
The Journey to Success with Asset Management by Steve Hankins, CIO at Morgan Foods is an amazing story of just such a journey from a leader who marched through the good, bad and the ugly and emerged much better for it as he continues to lead the journey for his organization.
The asset management journey covered is a fantastic story but the power nuggets of business "wisdom" that could be applied universally are also a huge bonus takeaway. I read somewhere that people think he should write a book. I agree.
This might be the best 29.55 minutes you will spend all week. I highly recommend you take the time to view this powerful leadership video.
Solutions Architect (Cloud & IoT) at Atos
1y🎯 Explore the world of IBM Certification with confidence, thanks to EduSum reliable resources! 🌐 #CertificationConfidence #IBMProfessionals www.www.edusum.com/ibm
Independent Reliability Consultant (Rioli Reliability LLC), Board Member at AMP (Asset Management Professionals), Global Reliability Director - Praxair (Retired)
3yThanks Terry! Love real life success stories, the opportunity to learn, and knowing others chewed some of the same dirt coming up in the trenches. Good stuff! ⭐
Engineering Manager at Halwani Brothers I MBA I PMP I RMP I CMRP I LSSBB I Plants Maintenance I Technical I Operation I Utility I Refrigeration I Projects I Facility & Energy Management I CI I Reliability
3yThanks Terrence OHanlon for sharing Valuable input...
Retired
3yI think the video is probably wrong, but. Reliability, I think that your children will think about safety and learning. Here in Tasmania there was I think six children passed away, did anybody think why the children and their safety? Years ago my children used to think about safety. I put my child on the stove, was it hot? yes, will it burn you? yes. Why did those children passed away? yes. why, safety. I believe that your children will think about safety, and guess what, little or no accidents. I was an apprentice, and yes I put together a compilation about jacking up trucks, but the engineers rejected it. Guess what I saw to jack, pretty much what I made, and lifting a caravan and guess what I did it years ago. As a Maintenance Planner there are heaps of things to change. Scaffolding, here in Brisbane there are issues, truck accidents here in Brisbane, why? safety. Here in BHP office the switch near the floor was broken, why? So I spoke to the manager to fix it, why, because somecody might have touched the wires and guess what? safety. I absolutely love Brisbane, but yes maybe there are problems, again why???? I was working in Woomera Service Station and I was re faced some valves from a head, and I was near electrocuted, why? because the manager decided to use wire, other than fuse wire, and it would have killed me. Yes firstly when you have children, use safety and maybe everybody will be alive.
Sales & technical advisor
3yThanks for sharing this interesting webinar, Terrence, I think it is necessary to start with self-conviction and a commitment to ourselves to really want to do this, because it is a long way for the results to be maintained.