HPAM stands for Holistic Physical Asset Management - another one of those acronyms!
Physical Asset Management- An Organizational Challenge is the title of my first book published October 2016 by FriesenPress. There are two main reasons why I wrote a book specifically with this title:
Having worked in a few countries in both the public and private sectors, in different industries and most importantly in different functional areas I have experienced first-hand how physical assets are managed from different perspectives. Over the years I have seen how organizations struggle with the conflicting priorities inherent in managing physical assets to balance cost, performance and risk.
It is time to reach out to all the asset management practitioners including the maintenance & reliability professionals, and everyone else in the organization who deals with physical assets in one way or the other – to the project manager who delivers capital projects, to the operator who operates the asset, to the decision maker who makes investment decisions, to the financial analyst who prepares the capital budget, to the accountant who put together the physical asset valuation report and to others.
It is time we bring everyone together to understand the holistic approach of managing physical assets over their entire lifecycle; to understand how our action/inaction or decision can impact the effectiveness of the process; to understand how working together will make better use of the resources at our disposal, and to understand how harmonization can help make better decisions.
In the Year 2017 I will be launching a series of blog posts to share my thoughts and philosophy on HPAM and the organizational challenges as outlined in my book.
The goals of the posts will be to:
Stay tuned on LinkedIn and Twitter for updates.
Together, we can drive the change needed in organizations to create the required synergy and harmonization. In the meantime the question I have for you is:
How can you help your organization with the HPAM philosophy irrespective of your job function?
Posted by Dharmen Dhaliah