Successful projects and failed programmes – the cost of not designing the whole life cycle of assets webinar

This webinar was on Asset Management for Project Managers, by a leading AM trainer and advisor who works with the UK IPA and others on how to incorporate whole life thinking into design and construction projects. This webinar was held on 28 February 2024.

Decisions made during inception, design and delivery of projects can have significant impacts future operating and maintenance cost, and overall return in on investment.

Typically project costs only represent 10 to 20% of the total cost of an asset through its life time but are often the main focus in investment decisions.

Considering return on investment, how do we practically take into account the total cost of ownership – when the operation and maintenance of physical assets may cost many times the original construction cost? How do we optimise what we design for operability, maintainability and reliability, when getting any of those wrong only make the lifecycle more expensive and risky? How is Asset Management crucially different from but complementary to what we already do?

Speaker - Ruth Wallsgrove

Ruth wrote the Infrastructure and Projects Authority Project Routemap manual on Asset Management. She is a Fellow of the Institute of Asset Management and a very popular trainer and speaker on the concepts and practice of AM around the world. In 2024, the modern discipline of Asset Management will be 40 years old: as a Board member of Talking Infrastructure, Ruth is helping to co-ordinate the celebration and use it for a hard examination of where we want to go in the next 40 years. At AMCL, she has worked with many major asset owners in the UK including Network Rail, Transport for London, Scottish Water, and SSE, and currently supports Tennessee Valley Authority and major North American hydro electric utilities among other infrastructure organisationss. She co-authored Building an Asset Management Team in 2020 with Lou Cripps of Denver transit.

Ruth has very kindly allowed her presented material to be made available for viewing.
The slides on Slideshare and the webinar recording on YouTube is now available in our APM resources area and also embedded below for reference.

This webinar content is suitable for professionals with an intermediate and advanced level of experience.

^{APM Body of Knowledge 7th edition
3.1.1 Business Case
3.1.6 Stakeholder management,
3.2.1 Benefits Management
3.4 Financial and Cost Management
3.5 Risk Management}

^{Webinar resources}