The WSAA Asset Management Customer Value (AMCV) project, a consortia with Jacobs and Isle Utilties, is a critical project for driving asset management improvement in the Australian water industry.
Run every four years, the project benchmarks water utilities across Australia. It identifies leading practices and areas for improvement while facilitating an awareness of the importance of asset management.
Despite COVID-19, the project was successfully delivered and confirmed the water industry has a high level of alignment with global asset management standards. It also identified 11 initiatives to assist the industry to improve asset management maturity.
Water utilities participating in the Asset Management Customer Value 2020 Project.
What was different in 2020?
. A few things were different in 2020:
- The question set is now aligned with the two key international asset management frameworks, the Global Forum for Maintenance and Asset Management (GFMAM) 39 subjects and the Institute of Asset Management (IAM). This change allows greater comparison with other sectors and countries.
- All the elements of the project were undertaken remotely including the validation.
- The use of Tableau, an interactive data visualisation software, allowed participants to analyse data easily and on demand.
What insights did we find?
AMCV 2020 Industry benchmarking results by subject. A score below 3 indicates that the industry is not fully compliant with asset management standards such as ISO 55001.
The project identifed 11 areas for the water industry to focus on improving which were consolidated into six key themes:
- Asset management strategy (AMS) and planning driving customer value
- Digital technologies supporting asset management delivery
- Whole of business asset management (AMS approach)
- Asset management benefits realisation (AM social/business benefits/voice of customer)
- Challenges associated with asset lifecycle activities
- Culture, capacity and competence - helping to manage change.
What are our next steps?
For each theme identified, initiatives were recommended to improve the industry asset management performance. There were also a number of leading practices identified in each theme which can assist the industry address challenges.
26 Nov 2020
