IAM Annual Conference 2022 A truly global affair Helen King, from CPL, and Owen Plant, from BMT Global, report on the IAMs two-day virtual conference, held in June Day one We have a really exciting two days ahead of us. Kicking off the IAM Global Conference 2022, new CEO Ursula Bryan welcomed delegates to a truly global programme, which was held virtually for the second year running. This approach, coupled with being free and on demand to all members, was lauded for its inclusivity. It meant delegates from every corner of the globe could join in. Following three content streams each day, which included 34 sessions and six keynotes, there was an engaging mix of workshops, presentations and panel talks with plenty of opportunity to ask questions and network in the specially set up digital areas. In fact, there were so many brilliant sessions during the two days that we simply do not have the space to do them justice. But we will follow up on some of them in future issues, and endeavour to give you a flavour here. More than 315 attende es New opportunities Navil Shetty discusses Indias infrastructure There 0 0 0 , 0 4 e r e w e g a p l a u d i v indi f o s view s n o i s ses Wednesdays first keynote speaker was Atkins SNC-Lavalins Navil Shetty. With more than 25 years experience, Shetty has played a key role within the IAM and been responsible for furthering standards across the world from the UK, to Dubai, New York and India. And it was India for which he provided an insightful overview examining both its challenges and its opportunities. He dispelled many of the myths about the country, which is thought to have overtaken China as the worlds most populous. He explained how India has a young population one that is very ambitious and enterprising and that literacy rates are high, helped by two decades of improvement. Well informed and educated, they are big consumers and this is what is stimulating the economy, to the point of having the worlds fifth-highest gross domestic product. But the challenges facing India in the shortfall in infrastructure capacity mean asset management has a vital role to play. Shetty went on to say how the country today is well established as a credible business partner and preferred investment destination, and is projected to be the worlds fastestgrowing major economy. The government has placed great emphasis on infrastructure development under the Gati-Shakti masterplan, with more than US$1.4tn of funding during 2021-25. This is a huge opportunity for asset management to generate value. But the discipline is still at an early stage in India, with more education and awareness needed for widespread adoption. To that end, the IAM is establishing a Chapter there to promote asset management. Raising standards After the fascinating keynote presentation, there were sessions on topics such as the implementation journey of asset management systems, the experience of integrated water management tools, and investing in water supply resilience. How to future-proof industrial assets with circular strategies was examined, along with a look at how ISO 55001 is being implemented within Abu Dhabi Ports Group. Standards were again under the microscope for an interesting delve into the ISO 55000 revision with IAM Fellow Rhys Davies, chair of the ISO/TC251, which is leading 35 countries in developing international standards for asset management. For anyone wanting to brush up on the history, development and application of the standard series, this was the session to attend. Davies, a global consulting leader for digital asset management and operations with 30 years experience, explained ISO is an independent, non-governmental international organisation with 167 national standards body members, such as the British Standards Institution in the UK. Delegates learned how the standards are revised, as well as how the committee structure works. Davies was also keen to stress how they could get involved in this important work first by contacting their countrys standards-setting body and he said there were always opportunities to engage in this rewarding area. Rhys Davies explains ISO Driving revenue Thomas Smith, from the University of Wisconsin, who took to the screen for the second keynote presentation on how to drive revenue from assets, is also a big hitter in the world of the ISO 55000 series. But he wanted to turn our attention to how to drive revenue from our assets. What Id like to do is to help us have a conversation where revenue and assets are mentioned in the same sentence, and that becomes a regular occurrence. Respect within an organisation, he said, comes from making money, so you need to make ties between your facilities and your topline revenue. A compelling why is necessary, and he used the University of Wisconsin and its huge campus, the size of a small city, as an example of how asset management can be a driver. He asked delegates what the story means to them how it would play out in their organisation. Connecting assets to revenue brings sorely needed attention and respect to those who plan and manage assets. It is necessary to do this to attract the best people to this field and to sustain their best work, he concluded. Thomas Smith uses the University of Wisconsin as an example Repair, reuse and retrofit The second set of day-one streams continued in the early evening, with presentations on NxtGen and digital twins, as well as workshops and interactive sessions on maturity and green jobs. How asset management can be an enabler for the circular economy sparked an engaging discussion from Frazer-Nashs Carl Waring, Arups Dr Kate Jackson, and Network Rails Katy Beardsworth. We have a choice; asset management is either going to be an enabler to mitigate climate change and regeneration or it is not. And you shouldnt have to wait for your organisations business goals to say that it should, Waring said. He emphasised the need for systems thinking, and where that can come into its own to help a circular way of operating refurbishing, repairing and retrofitting, rather than simply recycling. Asset management can be the driver for such systems. What does sustainability mean, asks Carl Waring The whole picture Liam McKenna delivers his keynote Wow, what a day! said the final keynote speaker, Liam McKenna, from the UKs Ministry of Defence, as he rounded off the packed programme. Ive taken so much from it. McKenna, who has 30 years experience in the discipline of asset management, predominantly in the maritime and infrastructure sectors, delivered his presentation on the challenges of growing asset management capability. McKenna, who once worked for an organisation that was responsible for cruise ships, said companies tend to look at their biggest assets. But, from a passenger perspective, if an engine fails it will rarely affect them but out-of-order facilities on board, such as washing machines, really do affect their experience. It is important to see that different assets have different worth to different people. You need the whole picture, and its about effective stakeholder management. For a complex organisation with multiple stakeholders, such as the Ministry of Defence in the UK, McKenna explained there were many challenges to overcome, not least the fact they dont hold the purse strings. He concluded by urging delegates to understand who uses your assets and what they need from them. A super helpful consideration to end an enlightening day. Did you miss the conference? You still have on-demand access to catch up on all the above sessions. Members have free on-demand access to all sessions.