Conference proceeding
Is EAM a Corporate Level Strategy?
14th WCEAM Proceedings, pp.68-79
Lecture Notes in Mechanical Engineering
World Congress on Engineering Asset Management
14th World Congress on Engineering Asset Management (Singapore, 28/07/2019 - 31/07/2019)
2020
Metrics
37 Record Views
Abstract
We speculate that COVID-19 will drive engineering asset owners to require governance entities such as boards of management (BoM), to elevate engineering asset management (EAM) to being a corporate level strategy and core competence. We sought to understand whether there was a fit-for-purpose conceptualization of EAM as a corporate level strategy.
Our research considered foundational Asset Management (AM) prescriptions finding that the available AM models have distinct gaps as to the roles of governance entities and of CEO’s in asset management where these are actively involved in the policy and practice of asset management. Using the Victorian Government Asset Management Accountability Framework as an example of active top-level involvement we identified a ‘bottom-up’ approach, incomplete integration with the whole organization and positioning of AM planning subsequent to strategic level planning as barriers to effective corporate level asset management strategy implementation. Responding to those findings we offer a program of future research aimed at developing fit-for-purpose strategic EAM tools to assist those BoM’s who seek to elevate EAM to a corporate level strategy.
Details
- Title
- Is EAM a Corporate Level Strategy?
- Creators
- David E Mills (Author) - Southern Cross UniversitySteve Pudney (Author) - Southern Cross University
- Publication Details
- 14th WCEAM Proceedings, pp.68-79
- Conference
- 14th World Congress on Engineering Asset Management (Singapore, 28/07/2019 - 31/07/2019)
- Event
- World Congress on Engineering Asset Management
- Series
- Lecture Notes in Mechanical Engineering
- Publisher
- Springer International Publishing; Cham
- Identifiers
- 991012922098302368
- Academic Unit
- Faculty of Science and Engineering; Engineering
- Language
- English
- Resource Type
- Conference proceeding