IAM news Latest stories from and about the Institute Dutch Chapter Annual Congress Report by Wim Timmerman IAM United Arab Emirates Chapter The IAM is excited to announce a new Chapter in the United Arab Emirates (UAE). Najib H Dandachi, the new IAM UAE Chapter Chair, joined IAM CEO Ursula Bryan at the opening of the IAM Global Conference on 14 June 2023 to announce the new chapter to the wider asset management community. Dandachi will be working with the executive committee to develop the new chapter. An in-person launch event will be planned over the coming months. The Dutch Chapter of the IAM held its annual congress on 1 June. Delegates were warmly welcomed by the host organisation VanBerlo, part of Accenture, to the event in the Innovation Powerhouse in Eindhoven. The theme of the day was IAM future-proof! We started off with workshops on topics including optimising decision-making, talking assets, digitalisation of brownfield assets, and the difference between means and end when it comes to sustainability. The programme was then officially opened by the presenters of the day: Ferry Visser and Justin van der Bruggen. We heard keynote presentations from Jos Van der Aelst (DSM) on achieving resilient asset care management for the future, and Johnny Hesp and Isabelle Laros (Accenture) on a theoretical and practical application of the butterfly diagram. The latter showed a demo of their newly designed smart energy meter. The importance of a holistic view and the engagement of all stakeholders in the life-cycle was discussed sustainability is never achieved by an asset itself, as a supportive system (processes, people, etc) is a prerequisite. Also, efficient use of materials fuels innovation and actually pays off in terms of a smaller carbon footprint and lower costs. The IAM Award was presented after lunch. The winner was young professional Sanne Keizer. Her pitch was about the value of trees and she introduced us to the idea that green assets should be treated as critical infrastructure. Trees are the only assets that increase in value over time, she argued. Then followed two keynote sessions. The first was on the longterm asset management planning of railways by Wouter Van Der Helm (ProRail). He spoke about replacing infrastructure on a large scale. While it is possible to organise this within the remaining lifetime, the use of the network has been intensified and therefore windows for maintenance have become smaller. Technically skilled people are scarce and planning ahead always results in plans needing amending, as there is a limit to what we can predict. Change management is essential in dealing with this. Mark Bouw (Enpuls Warmte Infra) shared the challenges of a future-proof energy network. He explained that its a huge puzzle that cannot be solved with just one technical solution we need multiple energy sources working together. Decentralisation of energy production and its uses is part of this puzzle. Clear legislation by the national government is what the market is waiting for before it can invest. The content part of the day concluded with two break-out sessions on the changes for sustainability that arise with the enormous task of replacing Dutch infrastructure, and the replacement of traditional water meters with smart meters. We ended the day in style with a closure by Chair of the Dutch Chapter Jan Mens, followed by refreshments. We left Eindhoven nourished and more prepared for the future. If you would like to get involved with the new IAM UAE Chapter, please contact office@theIAM.org IAM is unlocking value with ITN Business To showcase how asset management is being used to realise value for various stakeholder communities, the IAM is partnering with ITN Business to produce a news-style programme entitled Unlocking Value. Presented by Lukwesa Burak from the ITN London studio, it will feature case studies showing the ways in which asset-owning and service-providing organisations are employing a variety of approaches and solutions to deliver real impact. The programme will also hear from thought leaders across sectors about what is being done, and what should still be done, to unlock value. Rapid change, unpredictability, and rising costs mean assetintensive organisations are under increasing pressure to deliver the highest value to stakeholders. By unlocking value, organisations can expand their customer base, tap into new markets, and improve their bottom line. Realising value is at the heart of what asset management is all about, and the programme will include best practice in areas such as: How digital innovation is transforming how value is realised Where decision-support capability is enabling the balanced range of outcomes The power of organisational transformation in unlocking value How innovations focusing on outcomes are reimagining the way the value is realised How engaging with the right partners to build close, trusting and long-term partnerships is key to maximising value The increasingly international investor base for this growing sector. Dr Christian Roberts, IAM President, said: All organisations across the globe strive to unlock value from their physical assets. Our first series with ITN, Planning for the Long Term, focused on not just short-term but also long-term value. In our second series, Why Outcomes Matter, we focused on the impact on organisations and society at large and why being able to maximise the value delivered for stakeholders is essential. I am delighted to be working with ITN Business on our third season to bring to life the approaches and solutions organisations are employing to unlock value. Nina Harrison-Bell, Head of ITN Business, said: Following the success of our previous partnerships with the IAM, we are delighted to be returning with a third instalment, building on previous themes and focusing on the power in unlocking value. Unlocking Value will combine expert interviews, news items and reporter-led sponsored editorial profiles, and will premiere at the IAM Asset Management Excellence Awards 2023 on Monday 4 December. The programme will be supported by a digital launch and marketing campaign, and will be hosted on the ITN Business content hub. There are commercial opportunities for leading organisations to be featured in the programme and spearhead their own news items. If this seems relevant to your work, then please contact ITN Business Programme Directors, Charlotte Lenman and Isabella Sharp. Value the Apex of Asset Management The IAM is delighted to publish a new white paper, Value the Apex of Asset Management. The paper proposes a value pyramid to support asset managers in delivering multiple value-based outcomes. The IAM invites the wider asset management community to provide comments on this paper with a view to enhancing the available resources associated with this important asset management topic. Please provide your thoughts and comments through the IAM Discussion Forum. The IAM would like to thank Mark DeClercq, PE and Mark Knight for being the principal authors, and all the contributors who have reviewed and commented on this paper. Thanks also to the IAM Patrons, whose support in publishing this paper is greatly appreciated. IAM Germany annual work meeting The IAM Germany Chapter held its annual work meeting in May to decide what to concentrate on in the next few months. Every member is invited to this meeting, even if they are not yet involved in the chapters work, but just want to get a taste of it. The chapter works to ensure that it is the best place for knowledge and networking on the subject of asset management such work meetings help this process. Global Maintenance Day As a proud member of the Global Forum on Maintenance & Asset Management, the IAM joined colleagues and peers across the world to celebrate the first Global Maintenance Day on 9 June. The vital role maintenance plays in asset management is described in Asset Management an Anatomy. Circular economy publication Our Shared Understanding: a circular economy in the built environment has been published. With contributions from more than 100 industry leaders from more than 80 organisations, including the IAM, Our Shared Understanding brings together the best thinking from the circular economy and built environment communities to identify the core concepts that will guide the transition to a circular economy. It calls for collective action to put circular principles at the heart of how we design, manage, build and use our existing buildings and infrastructure. This will have a significant impact on addressing our global systemic challenges, such as achieving net-zero emissions, providing climate resilience, protecting biodiversity, and enabling social equity. The IAM is actively developing practical resources to help asset managers embrace circular economy principles and highlight the opportunities for enhancing the value this can offer. Rail white paper launch Digital Hot Topic Live During a recent virtual meeting of the IAM Digital Working Group, called Digital Hot Topic Live, attendees were divided into teams to present their thoughts on the use cases, business challenges and technologies that they had seen deliver benefits or fail to deliver value for asset owners. The findings from this session will contribute towards a wider report being created by the Digital Working Group. The group offers an opportunity for members to give their views on the challenges and opportunities that digital presents for asset-intensive organisations. The How Rail Can Enable the Circular Economy white paper was launched at the Circular Economy Network for Transportation Systems (CENTS) International Conference in May. The paper is the result of EPSRC/Circular Economy Network for Transportation System (CENTS+) research with the University of Derby and supported by Frazer-Nash Consultancy. The white paper is set within the UK rail context and takes a systems-thinking view on how the UK railway can align to facilitate growth in the circular economy and how asset management can enable that to happen. The paper shows the application and extension to the UK rail sector of the IAM circular economy white paper How Asset Management Can Enable the Circular Economy, which was published in November 2022. Delivering an interoperability code of practice policymakers, public and private asset owners, technology providers and industry supply chain professionals to learn what benefits the code will deliver and how they can participate in its future. At the event, delegates learned about The Institution of Civil Engineers held a networking lunch earlier this year to launch the code, how it can support procurement Delivering Valuable Data: an Interoperability to improve data delivery, and opportunities for its future development. Code of Practice for Technologies in the The event allowed for asset managers, Built and Managed Environment. Spotlight on USA Chapter Fast facts The beginnings of our chapter lie with the US delegation to ISO TC 251, formed in 2010, to contribute to the development of a management system standard for asset management. The members of the US delegation quickly realised that many of the other 35 countries benefited from having their own internal asset management-related professional or industrial societies. Terry OHanlon, who led the Maintenance and Reliability conference in Florida that covered the developing standard, invited us to participate, and hosted separate meetings devoted to the discussion of a US asset management association. David McKeown and Richard Edwards, from the IAM UK delegation, also participated in these meetings and brought with them knowledge of developing chapters in other countries. Discussions of a US asset management society also occurred in meetings of NPMA of which leaders of the US delegation to ISO TC 251, Lyle Hestermann and Jim Dieter, were members. Then there was the IET, a UK engineering association that supported the beginnings of the IAM. Tony McGrail, an IET member and advocate, championed IET meetings in the US. It was, in fact, at an IET-sponsored meeting in October 2013 that the USA Chapter was formally proposed. McKeown, Michael Salvato and OHanlon moved the proposal forward at a Reliability Web IMC meeting in December 2013. In May 2014, a group of volunteers joined together in New York to establish the USA Chapter and produce the inaugural event that launched ISO 55000 in the US. The USA Chapter began with branches in New York City and Boston and has now grown to 15 branches. It is a diverse collection of asset management professionals with backgrounds in transportation, water and wastewater, energy, and local government municipalities. The chapter has an executive committee that offers assistance to each of the branches by coordinating communications, suggesting themes and speakers for quarterly branch meetings, and partnering with the Canada Chapter in the annual North American Conference. The USA Chapter also produces a quarterly newsletter that identifies key events upcoming and reviews of branch activities. Our chapter has a large geographic area to cover and many have a long way to travel to participate face to face. With such a large geographical area, the issues are as many as the states in the union. There are varying levels of maturity among our member organisations, from those just starting on the asset management journey to a few who have achieved ISO 55000 Certification. We also have to include interests from multiple disciplines. To continue growth, we must touch all of these areas with professional expertise. Branches have their own key issues to focus on and try to keep diverse messages touching on various industries and maturity levels. The chapters key achievements include growing membership to more than 300 today, and we have held two conferences in partnership with the Canada Chapter. We have also partnered with the Women in Asset Management group to establish a flourishing mentoring programme. Established: May 2014 Area: The United States of America Meetings: Branches typically meet quarterly. The executive committee meets, virtually, every other week. One annual conference per year in partnership with the Canada Chapter. In June 2023, the first National Branch Meeting was held with all 15 branches and the Executive Committee. Next meeting: IAM North American Conference, 23-26 October, Toronto, Canada. Contact: Tammy Whipple or Joe Mooney Many thanks to Tom Smith and Scott Morris who contributed to this article. The chapter has a knowledge base of articles available on the IAM website. Our executive committee works with asset management practitioners to develop articles of interest in the hope of convincing our membership to submit their own articles. Our vision for the future includes the growth of the chapter we hope to double our membership by the end of 2025. We are also working towards supplying our members with tools to make them more successful, and to continue to develop our knowledge base. We are working with colleges and universities to help them develop a common college curriculum for asset management. In partnership with the Canada Chapter, we have established a working committee and created a course toolbox. We are also working towards the day when the USA Chapter is its own, self-sustaining chapter. We still have a way to go and so we are closely monitoring those chapters that are also working towards this, to learn from their experiences.