BEMAS Workshop 2020

Are your asset management decisions really optimal?

Hosted by BEMAS (Bridge to Worldclass Maintenance & Asset Management) with guest speaker, Boudewijn Neijens.

Asset managers are constantly confronted with the need to make decisions. Each year, billions are invested in the management of industrial assets and infrastructure for electricity, natural gas, water or transport. Making strategic decisions about how these assets can best be maintained, replaced or expanded requires an ever-increasing degree of refinement.

Selecting one project over another can be quite a challenge. Such decisions are often based on the added value to the company. But how exactly do we quantify value? Are we sure that we are choosing the right projects? Are the decisions we make really optimal and defensible?

In this interactive session we investigate how we can optimize project portfolios. Participants are challenged to value and rank the various asset-related projects of an sample portfolio, taking into account multiple financial, resource and time constraints. We will gradually identify the optimal portfolio, and at the same time explore the challenges of real-life scenarios where hundreds of projects can compete for scarce resources.

The following topics are covered in this interactive session on decision-making techniques for asset management:

• ISO 55000: general principles and the definition of value in asset management
• Valuation techniques for investments and projects
• Prioritizing versus optimizing: more value under resource constraints
• Optimization techniques: when to undertake which project
• Conclusions

The three key takeaways are:

1. Start with a robust value framework as a basis
2. Time is an important factor in decision making in asset management
3. Optimization techniques deliver more value under complex constraints

Registrations can be complete here.