Pre-Exchange Masterclasses: 23rd February 2010
9.00-12.30 Morning Masterclass A: Risk Management for Infrastructure investment
The need for ongoing investment in infrastructure requires asset owners and operators to use best in class risk management strategies. Capital and Operational expenditure, maintenance and works and service delivery all contribute to accurate forecasting, decision-making and planning. This masterclass gives attendees the opportunity to hear the latest thinking on risk assessment, what factors need to be incorporated into the strategy and how uncertainty can be dealt with for objective decision-making.
- Defining risk in the context of infrastructure investment and asset management
- Economic, political, social and other related risk issues as crucial criteria for investment decision-making
- Managing the impact of uncertainty on the investment decision-making process to limit the potential for error in key areas:
- Data errors (uncertainties about past events)
- Forecasting errors (uncertainties about future events)
- Model errors (residual errors, i.e. the difference between observed and model values)
- Building the risk assessment framework for the decision-making process to include:
- Risk mapping
- Public risk perception
- Objective and subjective data
- Setting the acceptable risk levels
Masterclass Leader:
Tim Young
Managing Director
ICS Consulting
Tim Young is the Managing Director of ICS Consulting and has responsibility for developing and delivering asset management based business solutions for the existing and emerging markets within the utility sector. Built around a base of utility asset management and information systems experience gained from eighteen years managing and consulting within utility businesses worldwide.
Before moving into consulting he worked for twelve years within the distribution business of Yorkshire Electricity. He was a member of the transformation team that developed and implemented the asset management model and capabilities across their business. Mr. Young is a member of the Institute of Asset Management and also a member of the Institute of Electrical Engineers.
13.30-16.30 Afternoon Masterclass B: Demystifing Asset Management - Clear Understanding For Competitive Advantage
Asset Management is a requirement for all owners and operators but beyond the buzz, Board level executives are beginning to understand its importance. But this is not an easy task. Asset Management remains daunting to many companies because of its innate complexity and comprehensive nature, and the need for copious amounts of data to do it well. This masterclass provides a clear, objective guide to asset management terminology as well as practical examples to use in your business.
- Defining Asset Management: what does it mean in your business?
- Exploring practical approaches to Asset Management and looking at the shifts that need to take place and the steps that must be followed to implement a sound Asset Management program
- Cutting through the terminology: master plans, projects, rate studies, CMMS, GIS, CIS
- Winning and sustaining senior management buy-in, the key to a successful Asset Management programme
- Rating various competency elements to assess the overall picture of the Asset Management approach required
