Books, films, podcasts and other things we recommend.

Douglas Hubbard on Information and on Risk

Douglas Hubbard wrote two books we recommend to any Asset Management practitioner, although they are not specifically aimed at infrastructure decisions: How to Measure Anything and The Failure of Risk Management. He also teaches on both subjects - and inspired at least one colleague to think more creatively about asset risks (Talk to todd.shepherd@amcl.com)

How to Measure Anything is about how information is only useful if it supports better decisions - but, on the other hand, “You have more data than you think. You need less data than you think.” https://www.goodreads.com/en/book/show/444653.How_to_Measure_Anything

The Failure of Risk Management: Why It's Broken and How to Fix It is a great book on, well, how to manage risk well (and what's not so great about the 5 by 5 matrix of likelihood and consequences). https://www.goodreads.com/book/show/6516407-the-failure-of-risk-management

https://hubbardresearch.com/

Doughnut Economics

Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist by Kate Raworth
Must-read on how to think about economics and not trash the planet.

“Humanity’s 21st century challenge is to meet the needs of all within the means of the planet. In other words, to ensure that no one falls short on life’s essentials (from food and housing to healthcare and political voice), while ensuring that collectively we do not overshoot our pressure on Earth’s life-supporting systems, on which we fundamentally depend – such as a stable climate, fertile soils, and a protective ozone layer. The Doughnut of social and planetary boundaries is a playfully serious approach to framing that challenge, and it acts as a compass for human progress this century.”

https://www.kateraworth.com/doughnut/

The IAM Big Picture

Brilliant animation masterminded by Chris Lloyd on what Asset Management is really about. A lot of side jokes anyone in Asset Management will appreciate, as well as the right emphasis - that it's all about people. One executive in a big US power company asked me, “Where did you position the spy cameras?” after I ran it for the senior management team. (It is not very complimentary about top management…) https://www.youtube.com/watch?v=Zp62O373q3c

Note: all these resources will have their own wiki pages when this list gets too long to read through in full!