Awards program provides evaluation and recognition of asset management capabilities

RP news wires

Asset owners, service providers and organizations responsible for physical assets and their revenue, reliability and safety outcomes are encouraged to apply to the Asset Management Council’s 2011 Asset Management Awards.

Now in its 15th year, the Asset Management Awards continues to provide organizations with an industry recognized and valid mechanism to measure continuous improvement in asset management.

“One of the big realizations that the Awards process provided us was how much we had achieved in improving our asset management systems within such a short period of time. The Asset Management Awards was a great reward for my team, particularly for all the hard work they put in,” says 2010 Asset Management Awards Bronze recipient Richard Ravell, portfolio asset specialist, CS Energy Ltd.

2010 Asset Management Awards Silver recipient Jeff Ware, operations manager for Windfarms, Transfield Services says, “It has been enormously valuable to have the Awards Review Team members assess our operations on-site, provide their feedback and generously share their expertise with us. The Asset Management Awards has also proven to be a great opportunity to engage our asset managers on the ground and at the front line.”

The Asset Management Council is providing enhanced evaluation of capabilities in timelines to individually suit each organization that enters the 2011 Asset Management Awards.

The on-site review period has increased from one day to 1.5 days, offering a more in-depth evaluation of an organization’s approach to the management of its physical assets – during the on-site visit and also within the detailed report compiled by the reviewers.

Participants can organize their on-site review for anytime during the year, enabling on-site reviews in a period suitable for each participating organization.

Each applicant’s submission report is based on criteria modeled from the Asset Management Body of Knowledge, which comprises of asset management definitions and technical models.

Intention to submit forms may be downloaded from the Asset Management Council website ( and are due by February 25, 2011.

Past recipients of the AMA have included: Airservices Australia, Aurora Energy, BHP Billiton Iron Ore, EnergyAustralia, HMAS ANZAC, One Steel, Railcorp, United Group Rail and Woodside Energy.

For further information, contact: Kate Robertson, awards and communications coordinator, Asset Management Council, at

The Asset Management Council is a non-profit organization, committed to the promotion and education of optimal asset management practices in industrial, commercial, academic and government organizations. The Asset Management Council offers membership, courses, a Body of Knowledge, technical papers, presentations, forums, business directory, local events and the annual ICOMS Asset Management Conference.

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