The world of asset management is ever changing as practitioners respond to new challenges and evolve in their strategic approach.
At a global level this has been reflected in the revised Asset Management Landscape document published by the Global Forum on Maintenance and Asset Management (GFMAM).
IPWEA was one of 15 GFMAM organisations involved in the review, which is the culmination of over two and a half years of work. Approximately 250 people from around the world were part of the process, including several IPWEA members.
The first Landscape document was published in 2011, and this third edition is a significant milestone, offering a contemporary and comprehensive view of asset management from a truly international perspective.
It spans areas such as organisational purpose, stakeholder management, governance, planning, leadership, data, delivery and value realisation.
The Third Edition of the GFMAM Asset Management Landscape presents a consolidated view of asset management, timed to coincide and align with the new ISO 55001:2024 Asset Management System Standard.
It provides the international community with a refreshed and robust framework and a more mature approach to asset management by organising systems into seven easy-to-read groups, covering 40 subjects.
These globally accepted set of subjects enable the alignment, comparison, and contrast of knowledge bases, practices, maturity assessments, competency schemes and qualifications in the asset management discipline.
It is designed to be complementary to the ISO standards and define the discipline of best practice asset management, rather than being a ‘how to’ document of how organisations should execute it strategically and tactically.
The third edition puts more emphasis on the context and purpose of organisations and deals with this as a preliminary to strategic planning.
It also has more of a focus on understanding the delivery of value than previous editions, reflecting much of the evolution in thinking on this subject among participating organisations in recent years.
Value frameworks feature more strongly in the new ISO standards, and Landscape reflects this and deals with value creation in term of creating frameworks and measuring deliverability.
The document, however, recognises that value will mean different things to different organisations so is not prescriptive.
As organisations seek to build on and improve their Asset Management capability, they will need to assess their performance against the GFMAM Landscape and further develop these capabilities to an appropriate level of maturity.
Asset Management maturity is not limited to the stages achieved in meeting ISO 55001 requirements – it looks beyond compliance with ISO 55001 and considers the characteristics that organisations would exhibit at higher levels of maturity.
The GFMAM also recognises that each participating organisation will develop their own detailed guidance on Asset Management Maturity assessments that are consistent with these guidelines but tailored to their specific needs. They will also have their own approach to integrating Landscape into their trading and professional education frameworks.
To add value to Landscape, IPWEA has mapped the International Infrastructure Management Manual (IIMM) with the revised Landscape subjects and ISO 55001:2024 elements. The outcome of the mapped components will be made available to IIMM subscribers soon.
A special note of thanks and gratitude goes to GFMAM Project Manager Dave Daines, who guided valuable insights into this new edition. As a member of GFMAM, IPWEA is proud to have been part of the project.
We invite you to be among the first to explore this updated version. Visit the Publications page on the GFMAM website (https://gfmam.org) to download the AM Landscape V3.0, available in English, French, Portuguese/Brazil, Japanese, or Mandarin. Spanish and Arabic versions will be released soon.
Key changes in Landscape v3.0 include:
