AMPEAK is the premier Asset Management conference in Australia. This year, it was held in Fremantle WA between the 7th and 10th of April. Brad Hocking, Chris Sproston and Michael Psalios attended on behalf of Shoal where they facilitated three separate sessions on cutting edge topics in Asset Management, which are outlined below:
Technical Paper – Hocking and Sproston – Bowtie risk assessment methodology in practice
Bowtie Risk Assessment is a methodology that allows risk to be evaluated in terms of multiple scenarios surrounding an unwanted event and presents a holistic picture of the overall risk which is easy to communicate. This paper details the experiences of the authors in the development of bowties; the integration of these bowties into an Integrated Risk Management System; and the successful transition of the IRMS into operations.
Technical Paper – Hocking, Sproston and Psalios – A Case Study in Operational Readiness
This paper discusses a unique approach for evaluating operational readiness in an acquisition project. The case study involves an operational metro railway in the US undergoing a major asset replacement, including rail cars, rail control system, and control centre. The project was conducted on behalf of the asset owner to ensure operational readiness for the transition to the new system.
Facilitated Workshop – Psalios and Hocking – Value-Based Decision-Making in AM
This workshop session was facilitated to encourage discussion and elicit input on the topic of value-based decision-making in asset management, including a focus on understanding how to define the value of intangible outcomes. The objective of the session was to further the discipline of asset management through facilitated knowledge sharing on good practice decision-making, based on experiential learnings.