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baamt:what_kind_of_people_does_an_am_team_require [2022/04/06 12:55] – ruthbaamt:what_kind_of_people_does_an_am_team_require [2022/04/16 22:32] (current) – ruth
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-====== Asset Management requires complementary experiences and aptitudes ======+====== Asset Management requires complementary aptitudes ====== 
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 Any AM team requires a balance of people. Any AM team requires a balance of people.
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   * AM functions have to see themselves as promoting, **influencing and coordinating** rather than directly delivering.  (Wally Wells of Asset Management British Columbia calls this the folded arms approach.)   This means developing good relationships with a range of other teams.   AM practitioners have to be able to acknowledge and respect what other people know, and have some detachment, because their role is to bring together different teams and types of experience & knowledge into asset strategies and integrated planning, not to try to impose their own opinions on asset decisions.  They must have a big picture view of the business such that they understand concerns within silos but can explain the needs of the entire organization to put the concerns into context.    * AM functions have to see themselves as promoting, **influencing and coordinating** rather than directly delivering.  (Wally Wells of Asset Management British Columbia calls this the folded arms approach.)   This means developing good relationships with a range of other teams.   AM practitioners have to be able to acknowledge and respect what other people know, and have some detachment, because their role is to bring together different teams and types of experience & knowledge into asset strategies and integrated planning, not to try to impose their own opinions on asset decisions.  They must have a big picture view of the business such that they understand concerns within silos but can explain the needs of the entire organization to put the concerns into context. 
   * Another specific requirement is for people who can **‘embrace uncertainty’**, since AM is at its heart about planning for the future – and the future is always uncertain.  For example, ProGas in the Netherlands in the early 2000s focused on promoting smart technical people into asset planning: the only ones who succeeded were those who could cope with making decisions on clearly imperfect knowledge and data.  Many could not.       * Another specific requirement is for people who can **‘embrace uncertainty’**, since AM is at its heart about planning for the future – and the future is always uncertain.  For example, ProGas in the Netherlands in the early 2000s focused on promoting smart technical people into asset planning: the only ones who succeeded were those who could cope with making decisions on clearly imperfect knowledge and data.  Many could not.    
-When Penny Burns took the RailCorp Strategic Asset Management team managers through Scenario Planning training, the most important outcomes were making everyone feel a little less certain about the future for the railway – and set us to thinking hard about what data would indicate a real trend. 
   * **The ability to think probabilistically** is not intuitive, but it is of great value and can be learned.  Those that have developed their understanding of probabilities can use this thinking to help address the uncertainty that is essential to describing systems, predicting outcomes, and influencing outcomes.     * **The ability to think probabilistically** is not intuitive, but it is of great value and can be learned.  Those that have developed their understanding of probabilities can use this thinking to help address the uncertainty that is essential to describing systems, predicting outcomes, and influencing outcomes.  
   * **A structured approach to problem solving**, even to questions where there isn’t an obvious right answer, or the exact answer can’t be known, is important.   AM practitioners should be curious and ask questions, working to discover root causes.    * **A structured approach to problem solving**, even to questions where there isn’t an obvious right answer, or the exact answer can’t be known, is important.   AM practitioners should be curious and ask questions, working to discover root causes. 
 The strongest AM practitioners seem to know when there isn’t a single correct answer, and what set of constraints should be used to move forward with the next best alternative.   The strongest AM practitioners seem to know when there isn’t a single correct answer, and what set of constraints should be used to move forward with the next best alternative.  
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 **An Asset Manager has to be comfortable saying, “I don’t know.” **  **An Asset Manager has to be comfortable saying, “I don’t know.” ** 
   * It’s also vital to be able to see what is important, the AM principle of **criticality**, and the balance of ‘cost, risk and performance’ in what we do ourselves.   * It’s also vital to be able to see what is important, the AM principle of **criticality**, and the balance of ‘cost, risk and performance’ in what we do ourselves.
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 **This is hopefully not to completely depend on unicorns - or platypuses – that we may never find.** **This is hopefully not to completely depend on unicorns - or platypuses – that we may never find.**
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 +[[baamt:key_attributes_for_an_am_team|Summary of AM team attributes]]
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baamt/what_kind_of_people_does_an_am_team_require.1649249742.txt.gz · Last modified: 2022/04/06 12:55 by ruth
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