Enablers and Disruptors for Asset Management in the next 5-10 years

The Australian Water Association’s Asset Management Specialist Network (AMSN) convened a workshop at Ozwater’17 to discuss which enablers and disruptors will challenge and shape asset management practice in the next five to ten years.

The workshop commenced with a report-back on a member survey of opinions that identified that the top four enablers and disruptors, from a list of 33 different nominations, are: 

  1. Analytics and Big Data; 
  2. The Internet of Things; 
  3. Customer Value; and
  4. Predictive Analysis. 

A panel of experienced industry practitioners from varied backgrounds and sectors then offered some thought-provoking commentary and insights on their experiences. This commentary included aspects such as:

  • Discussion of how ISO55000 standards, and regulation in general, don’t (necessarily) present a barrier to innovation, and practical examples of how they may indeed enable innovation and change.
  • Increasing the agility of water utilities by making better decisions and changing the way that we think about delivering value to customers, including bridging the gap between perceived and actual value.
  • A strategy for a ‘Utility of the Future’ forecasting, embracing the changing environment and recognising the integrated role with customers and the community.
  • Better understanding the need for data and the value that it provides through predictive analysis and increased value from assets.
  • The importance of collaboration with all stakeholders to achieve global advancements in asset management throughout the water industry.

The workshop then proceeded to some active round table discussions of the workshop audience based around the top four enablers and disruptors. The participants looked at:

  1. What are the key concerns and thoughts?
  2. What are the key aspects and focus areas?
  3. What other industries are impacted by this issue and are there any learnings which are transferrable to the water industry?
  4. What ideas and strategies are currently adopted?
  5. Are there any new ideas or strategies?

The input was willing and lively, insightful and challenging. It highlighted both the level of interest in the topics and the range of different stakeholders across the water industry and varying perspectives.

The AMSN Committee have summarised the key table discussion points from the workshop and will release the notes via email to all members subscribed to the network. To subscribe to the AMSN, log in to your account, click the ‘Hi’ button at the top right corner of the page then the ‘Specialist Networks’ tab where you can tick ‘Asset Management’. 

You can also be part of the ongoing discussions in the online community forum. Just click ‘Join the Asset Management Community’ here and be sure to click the ‘Follow Community’ button.