Join our Asset Management community
Share knowledge, get feedback and ask questions
Welcome to the Belgian IAM Chapter – NBN Asset Management community!
The goal of this community is to create a platform to bring together all stakeholders in the field of physical asset management. Within this community, we can share information, ideas, practice and knowledge, give and receive feedback, and discuss new standards and challenges. This will help everyone who is active in the asset management profession to enhance the quality of their work and find out what their peers are doing.
Thank you for contributing and let’s share!
PS : Do you want to participate? Contact me.
Who is Daniël Pairon?
Daniël is the Global Head of KPMG Asset Management and leads the Global KPMG Asset Management Centre of Excellence, which is based in Belgium. He has built up particular experience in end-to-end Asset Management solutions. He is advising many leading asset-intensive companies in the conceptualization of Asset Management strategies and Asset Target Operating models, optimization of Asset Management decision makings (maintenance, investments, performance and asset risks), Asset Management procedures, asset performance, and life cycle costing. He has developed specific methodologies to review, optimize and value complex and high volume of physical assets. Daniël is also, from the very beginning, member of ISO/TC 251 Asset Management and actively participates on the development of the ISO Asset Management standards.
Definition: what is asset management?
In the ISO standard ‘Asset management - Overview, principles and terminology’ Asset Management is defined as coordinated activity of an organization to realize value from assets.
Asset management enables an organization to realize value from assets in the achievement of its organizational objectives. What constitutes value will depend on these objectives, the nature and purpose of the organization and the needs and expectations of its stakeholders. Asset management supports the realization of value while balancing financial, environmental and social costs, risk, quality of service and performance related to assets.
The benefits of asset management can include, but are not limited to the following:
- improved financial performance: improving the return on investments and reducing costs can be achieved, while preserving asset value and without sacrificing the short or long-term realization of organizational objectives;
- informed asset investment decisions: enabling the organization to improve its decision making and effectively balance costs, risks, opportunities and performance;
- managed risk: reducing financial losses, improving health and safety, good will and reputation, minimizing environmental and social impact, can result in reduced liabilities such as insurance premiums, fines and penalties;
- improved services and outputs: assuring the performance of assets can lead to improved services or products that consistently meet or exceed the expectations of customers and stakeholders;
- demonstrated social responsibility: improving the organization’s ability to, for example, reduce emissions, conserve resources and adapt to climate change, enables it to demonstrate socially responsible and ethical business practices and stewardship;
- demonstrated compliance: transparently conforming with legal, statutory and regulatory requirements, as well as adhering to asset management standards, policies and processes, can enable demonstration of compliance;
- enhanced reputation: through improved customer satisfaction, stakeholder awareness and confidence;
- improved organizational sustainability: effectively managing short and long-term effects, expenditures and performance, can improve the sustainability of operations and the organization;
- improved efficiency and effectiveness: reviewing and improving processes, procedures and asset performance can improve efficiency and effectiveness, and the achievement of organizational objectives.
We would of course like every physical asset manager to join our community. But other stakeholders are more than welcome to join, too:
- those considering how to improve the realization of value for their organization from their asset base;
- those involved in the establishment, implementation, maintenance and improvement of an asset management system;
- those involved in the planning, design, implementation and review of asset management activities; along with service providers.
Public and private stakeholders, board members, asset managers, financial managers, service providers, consultants, researchers, ... National and local government bodies and relevant representative associations also have a vested interest in being part of our community.
- Physical assets are factually an important expenditure driver for all asset intensive organizations. Implementing an Asset Management Framework will impact positively the organizations’ Total Expenditure and as a consequence its profitability.
- The value of and the value from an asset or set of assets will change over their lifetime. Asset Management recognize this change and address it in the asset plans to maintain and improve the value from the assets.
- Opportunities arise from the review, renewal and replacement of assets. Technologies change as well as the organizational context and the needs of its customers. Asset Management takes this into account and looks ahead to plan for change in the most effective manner possible.
- The leadership of asset intensive organizations should be able to give assurance that they are in control of managing their assets. More and more stakeholders are requiring this from them.
- Belgian Asset Intensive organization’s are at the beginning of their journey to take advantage of one of the last almost untouched managerial discipline.
How can standards contribute?
Standards are a must for today’s asset managers, offering a framework against which they can structure, organise and improve their activities. The adoption of ISO 5500x standards enables an asset intensive organization to achieve its objectives through the effective and efficient management of its assets. The application of an asset management system provides assurance that those objectives can be achieved consistently and sustainably over time.
Here are a few benefits that the ISO 5500x standards can have for asset managers:
- Global benchmark on physical assets. The ISO 5500x standards facilitate international consensus on good asset management practices;
- A well balanced line of sight of the activities to manage the assets and aligned objectives. Will connect asset management to corporate strategy, which will elevate it to a board-level topic;
- A clear taxonomy – all involved functions should speak the same language;
- Long term strategic view, including finance. ISO 5500x standards bring the finance and accounting departments closer to the Asset Management function;
- Transparent and consistent decision making;
- Provide asset intensive organizations with an effective template for generating more value out of their assets;
- Asset risk-based approaches from position of knowledge;
- Emphasis on outsourced activities;
- Promote transparent financial-technical and operational reporting of assets and help establish a clear audit trail;
- Commitment from top management;
- Provide competitive advantage to differentiate from competitors in new business opportunities.
Community: let’s talk and share information
Do you have any questions about physical asset management? Do you have important news to share? Or do you want to give your input? Your feedback and contributions are very welcome. Sharing information with other asset managers can take asset management to a higher level.
Contact Daniël Pairon, the thought leader about asset management.
Useful tools and information
Some useful information about standards and asset management:
- Events: do you want to know if there is an Asset Management event coming up? Check it out here.
- ISO 55001: a standardised and internationally recognised framework for physical asset management
- Nieuwe ISO-normen helpen waarde creëren uit activa
- ISO 55001, Sodexoʼs bottom line
- Gérer les actifs selon l'ISO 55001
- Standards in development:
- ISO/AWI TS 55010 Guidance on alignment of asset management, finance and accounting
- ISO/AWI 55011 Guidance on the development of government asset management policy
- Published standards about asset management:
- ISO 55000, Asset management - Overview, principles and terminology
- ISO 55001, Asset management - Management systems - Requirements
- ISO 55002, Asset management - Management systems - Guidelines for the application of ISO 55001
The Bureau for Standardisation (NBN) develops and sells about 42,000 Belgian, European and international standards in Belgium. Every year, standards are added to this number or revised. Furthermore, NBN is the only Belgian member of the International Organization for Standardization (ISO). At NBN you can buy standards, take training courses about the use of management standards or participate in the development process of standards.
About Belgian IAM Chapter
The Belgian IAM Chapter provide asset management practitioners with opportunities to learn, demonstrate competence, share and connect with industry peers and to benefit from cross-sector cooperation. We will proactively seek to collaborate between organizations that have an interest in Asset Management with the goals of strengthening each other’s initiatives and contributing the global advancement of the discipline.
The goals of the Belgian IAM Chapter are:
- Share and develop asset management knowledge
- Promote networking among asset management professionals
- Develop, assess and certify competence in asset management