What is asset management?
The Asset Management Council defines asset management as, “The life cycle management of physical assets to achieve the stated outputs of the enterprise”. This definition specifies a focus upon the delivery of a stated capability in which assets play a key role, and in which the business must manage its physical assets commensurate with the business need for that capability. Thus, the definition is concerned with short, medium and long-term considerations from the conception of the asset's need, through its complete operating life, all the way until its disposal phase. This definition also defines the boundaries of asset management and differentiates it from other key management processes.
About the Asset Management Council
The Asset Management Council (AMC) is a non-profit organisation committed to advancing the asset management knowledge and capability of members and the broader community. As an independent professional body, the AMC unites working engineers and organisations from asset intensive industries to increase Australia’s international competitiveness.
Courses, the Asset Management Body of Knowledge, technical papers, forums and events are among the services provided. The AMC is a Technical Society within Engineers Australia and a founding member of the Global Forum on Maintenance and Asset Management.
Vision, mission and objectives
The AMC's vision is to 'enable value from effective asset management'. Their mission is to 'engage our stakeholders to transfer knowledge to create a deeper understanding of asset management'.
The AMC is focussed on the following objectives:
- Strengthening and enhancing aptitude in asset management and maintenance engineering for professionals and organisations.
- Promoting best-practice techniques for asset management and maintenance engineering.
- Promoting participation from practitioners as well as contribution to company activities.
- Fostering connections at both national and global levels.
- Promoting participation from allied occupations.
- Encouraging research and increasing knowledge of asset management.
Assets for members - resources and opportunities
The AMC has firm affiliations and partnerships with organisations such as The World Partners in Asset Management and Broadspectrum. They enrich the field with webinars and platforms including the Asset Management Body of Knowledge (AMBoK). They also provide opportunities for volunteering, training, certification and events.
If you’re an engineer interested in asset management, joining the AMC offers invaluable opportunities for networking, expanding your knowledge and staying abreast of changes and advancements in your discipline.
Join the AMC
For more information and the opportunity to join your peers and industry leaders, sign up today.