on 11 May 2017
Do you remember when you bought your first car? You scraped together enough for a deposit, got a loan at the ridiculous interest rate, found the ‘dream’ car and thought you were a gun at negotiating with the car dealer. You probably immediately went out and put a new stereo in it, or bought better mag wheels.
Was it a good investment decision? It doesn’t really matter – it was your first car. Mine was a cappuccino coloured Mazda, and yes, it had a great stereo.
So, what does buying your first car have to do with Asset Management? As it turns out; quite a bit.
Many military people quickly understand the basics of asset management – having a capability (an asset), that meets your mission profile (performance), delivered at the lowest cost (value for money) and is fit for purpose (risk). Pretty simple stuff. And, since you’re reading this article you probably have some interest in asset management.
However, how to ‘do’ asset management remains a mystery to most.
Now, I am quite biased on this topic – I work as an asset manager for a rail company. I have been involved in gaining ‘PAS 55’ and ISO 55000 certification. We were some of the first in Australia to do so.
And what’s more, I learnt the basics of asset management when I worked for Defence.