Asset management

Giving you the confidence to achieve your service delivery targets.

We give you the confidence that you can achieve your service delivery targets in an efficient and structured way, working with you to understand what best value can be achieved from your assets.

We do this by helping you to understand the service you are looking to deliver, how your assets or interventions can support the delivery of that service, and deliver it at the right cost, through time.

You might be managing your assets to deliver improved customer or environmental services, increase profitability or deliver wider societal benefits. By doing the right thing for the customer you will inevitably answer your regulatory requirements.

We work to a one, five, or 25-year timeline with one being for optimising in-year interventions to create benefits and manage costs, five for specific investment cycles, and 25 for big scale vision initiatives.

Our value

Qualification - Our consultants are members of the Institute of asset management (IAM) and are trained to an IAM diploma level.

Diversity of expertise – Our consultants are a mix of operators, engineers, regulatory specialists, and environmental scientists.

Blend of specialisms – We blend finance, engineering, economic and regulation capability, with operational common sense within the context of broader environment.

How we can help

Business case

We can produce, or support you to produce, a portfolio of your whole business; or a plan for an individual asset including asset data analytics, for one, five or 25 years.

Your business case might be a regulatory interface to satisfy the demands of the regulator or a requirement of your own Board. We can help you with the completion of data tables for regulatory submissions, and to complete and assure the information that is fed through to the regulator.

Plan

Through our planning service we give you a decision you can believe in, and your leadership teams the confidence you are making best use of your resources.

We can map and plot the journey of the service, performance, costs, and risks through time aligned to the cost benefit assessment model or the investment model.

Much like the business case we can also provide a plan suitable for the regulator with regulatory documents and submissions.

ISO55000 asset management

We work with organisations to produce continuous improvement in asset management maturity by either supporting the shadowing or accreditation of your organisation to ISO55000. We assess asset management maturity against the standard and coach organisations to improve ways of working.

Our experts support you to improve your asset management maturity through stakeholder management, strategic asset management planning, training, and development. We can work with you to implement and document new ways of working which support continuous improvement and accreditation.

Asset data management

We help you to organise your asset data effectively to enable good decision making. We help you to understand your current and future data need, building governance structures to allow you to collect and store information effectively. By making the best use of data in decision making, we identify the analytics to apply to understand change or deterioration of performance.

Process

Root cause analysis

We start the asset management process with understanding the issue; what is it that may be happening. This provides us with an evidence base. We start by extracting all forms of evidence (operational, tactical, strategic, even anecdotal) and work with you to quantify precisely what the actual issue is, when and why it is happening. We collect and analyse the data to present a likelihood and consequence of failure, giving us a baseline against which to measure interventions.

Optioneering

Now we begin to look at what we can actually do. We facilitate conversations in structured way to consider options within the Totex hierarchy:

Do nothing or dispose
Opex solution – maintain and mange
Capex – build new

At this stage we would factor in customer engagement strategies as well to come at the problem from multiple angles. We might suggest nature-based solutions in our approach or way of thinking. We promote multi-stakeholder co-creation optioneering with the customer and external stakeholders such as agencies, wildlife trusts, or local councils. This encourages buy in to the project from the start and offers a diverse way of thinking.

Benefit quantification

This is the fact-finding stage to quantify the benefits, costs, and risks to build a comprehensive picture of the interventions. We look to quantify the service benefits against the changes required asking what are all the benefits and consequences and can they be quantified and brought together?

Costings

We work with our cost intelligence teams to ensure efficient and robust costs are produced. You may choose to do this process yourself but require facilitation from us as an external consultancy to organise and optimise the process, as well as provide governance and assurance around the process. This controlled process means you can be confident you have reached the right decision.

Risk

Once the plan has been defined there is still uncertainty and residual risk, be that direct asset risk, societal, or environmental risk, especially if the project is spread over 25 years. We will quantify and map out the uncertainty around the plan, identify the risk the company is carrying if it does and doesn’t go to plan, where the risk will manifest, the likelihood of the plan failing, and monetise the financial consequences of that failure, to develop a service cost risk. We work through the risks in a 6 capitals approach with valuation frameworks to understand the non-standard risks and decide on the interventions.