Data as an Asset
Over 25 years Asset Management has become mainstream; and the last decade has transformed the digital environment: for people, organizations and governments.
This has had a huge impact on the challenges facing organizations ‘doing’ Asset Management; as well as emphasizing that Data, itself, is a valuable asset and enabler.
The IAM has been developing its thinking – and leading some debates in our community - in related areas (eg Maturity); and wishes to support Members and others, including suppliers, in understanding Data and maximising value from it.
Our purpose is to develop IAM guidance that helps organizations exploit Digital Technologies within the Asset Management context - and actively promotes the roll-out of implementations.
A key aspect is to address Data as an Asset; how to manage the cost-benefit balance of data, and the flow of data and information in and across organization boundaries; how to create identifiable value for the organization and/or its stakeholders and customers. This Guidance will:
- Include the value, selection and adoption of alternative digital approaches such as Digital Twins and other digital technologies
- Help organizations understand levels of Digital adoption, necessary maturity, readiness and how to realise key benefits now and into the future
- Address the skills, learning and capabilities that people need
Read our full position statement
IAM Digital Position Statement Ver4 .pdf
Alignment & Scope
This guidance is not intended to replace existing SSGs but will provide more strategic insight into the adoption of digital technologies. (Our SSGs will be reviewed for alignment.)
IAM is partnering CDBB’s National Digital Twin initiative, as part of the Digital Twin Hub, to encourage organizations everywhere to adopt these concepts and guidance. Although this is a UK government initiative, the IAM will reach out to international organizations to understand their experiences and their needs.
The IAM will seek to collaborate with other bodies, wherever in the world they may be found, that wish to support this work. Please let us know of any useful sources and/or potential partners.
Download the full Terms of Reference for details on alignment and scope
IAM Digital Programme TofR Ver3 .pdf
The IAM will seek active support from leading vendors and integrators or asset owners willing to help us get on with this work as fast as possible.
Workstreams and Task Groups will be initiated to:
- Enable Members and wider society to understand the relationship between: Optimized Asset Management decisions; Information Management; BIM (Buildings Information Modelling); and advanced digital approaches including Digital Twins, Artificial Intelligence and so on
- Establish a clear and practical maturity scale to enable a step by step approach to the adoption of digital technologies
- Enable organizations to assess their current information management and digital capability against this maturity scale
- Develop methods for determining the value of information
- Enable organizations to build a practical plan to increase the maturity of their digital capability with a clear understanding of the benefits and value proposition
- Support CDBB in whatever other ways seem productive to both parties
- Comment on relevant government and other relevant publications
Discussion and ‘self-help’ groups will be established to:
- Engage organizations who are adopting digital technologies to share lessons learned to date
- Engage with technology vendors to gain support / sponsorship of the initiative
- Address the ‘digital skills’ challenge facing many organizations
- Develop guidance on the change management and implications of this journey
Digital Asset Management Use Cases
We are developing use cases for how advances in digital technologies, data and analytics are helping organizations in addressing typical asset management challenges.
These are one-page overviews that are designed to help asset management practitioners understand the steps they need to take to digitally transform their approach.
- a summary of the fundamental asset information you need
- ‘no regrets’ activities you can undertake to start taking a more data-driven approach
- ‘game changer’ technologies and techniques, plus potential barriers you may face on the way
Please find the first four of these one-page overviews below:
- Customer Service and Demand Forecasting
- Asset Investment Planning
- Asset Life Cycle Decision Support Tools
- Predict and Prevent Service Disruption
Our ambition is for these to be guides that evolve over time with input from the community. The published use cases have been hosted on the IAM Discussion Forum and feedback and comments received thus far have been incorporated into these one-page overviews.
Join the discussion on the IAM Discussion Forum to help us develop these and future use cases by providing your feedback and comments!
Do you want to be involved in our work?
You can register your interest in joining the workstreams or the group at large at any time by emailing Office@theIAM.org and we will contact you with more information when projects are released.