{"id":19576,"date":"2015-05-01T16:00:00","date_gmt":"2015-05-01T23:00:00","guid":{"rendered":"https:\/\/copperleaf-test.majortom.dev\/success-requires-doing-the-right-projects-not-just-doing-projects-right\/"},"modified":"2023-04-21T08:44:53","modified_gmt":"2023-04-21T15:44:53","slug":"success-requires-doing-the-right-projects-not-just-doing-projects-right","status":"publish","type":"post","link":"https:\/\/copperleaf-test.majortom.dev\/en\/blog\/success-requires-doing-the-right-projects-not-just-doing-projects-right\/","title":{"rendered":"Success Requires Doing the Right Projects, Not Just Doing Projects Right"},"content":{"rendered":"<p>In any discussion about\u00a0asset management these days, the <a href=\"http:\/\/www.bsigroup.com\/en-GB\/Asset-Management\/\" target=\"_blank\" rel=\"noopener\">ISO 55000 standard<\/a> is bound to come up. ISO published the standard in 2014 to provide guidance on best-in-class asset management practices\u00a0and\u00a0help organizations \u201crealize the maximum value from their assets\u201d.\u00a0In a nutshell, it\u2019s about choosing the \u2018right\u2019 things\u00a0to invest in\u2014the projects that will deliver the highest value, and are most aligned with your company\u2019s strategy.<\/p>\n<p>It\u2019s also about creating a plan\u2014a roadmap for success\u2014laying out what will be done, when, by whom and how it will be evaluated. The plan must address how to keep assets operating at their optimal level of performance, while managing risk, and respecting the available budgets and resources.<\/p>\n<p>Sounds simple but this is no easy task, especially in organizations with tens of thousands, or even millions of diverse assets.<\/p>\n<blockquote class=\"blockquote testimonial\">\n<p class=\"testimonial--quote\">A goal without a plan is just a wish.<\/p>\n<p><cite class=\"testimonial--author_info\">Antoine de Saint Exup\u00e9ry<\/cite><\/p><\/blockquote>\n<p>Asset Investment Planning and Management (AIPM) is an evolving discipline that helps organizations focus their available resources on <em><strong>doing the right things at the right time<\/strong><\/em>.\u00a0AIPM can help you:<\/p>\n<ul>\n<li><strong>PREDICT<\/strong> the long-term needs of your asset base<\/li>\n<li><strong>OPTIMIZE <\/strong>portfolios of investments to realize the greatest value from your assets<\/li>\n<li><strong>MANAGE<\/strong> your portfolios to achieve the highest execution performance<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"js-loaded wp-image-7173 aligncenter\" src=\"https:\/\/copperleaf-test.majortom.dev\/wp-content\/uploads\/2022\/06\/POM_Methodology_US_460x350-300x228.png\" alt=\"\" width=\"407\" height=\"309\" srcset=\"https:\/\/copperleaf-test.majortom.dev\/wp-content\/uploads\/2022\/06\/POM_Methodology_US_460x350-300x228.png 300w, https:\/\/copperleaf-test.majortom.dev\/wp-content\/uploads\/2022\/06\/POM_Methodology_US_460x350-450x342.png 450w, https:\/\/copperleaf-test.majortom.dev\/wp-content\/uploads\/2022\/06\/POM_Methodology_US_460x350-79x60.png 79w, https:\/\/copperleaf-test.majortom.dev\/wp-content\/uploads\/2022\/06\/POM_Methodology_US_460x350.png 460w\" sizes=\"(max-width: 407px) 100vw, 407px\" \/><\/p>\n<p>When these three principles of AIPM are put in place, organizations can start to make these complex investment decisions with confidence.<\/p>\n<p><strong>PREDICT<\/strong>: \u00a0Asset managers must focus on predicting the needs of their corporation\u2019s assets, and on developing a realizable\u00a0investment strategy to meet those needs.\u00a0 The key word here is <strong><em>realizable. <\/em><\/strong>It\u2019s not just about identifying the ideal thing to do for every asset, because you invariably won\u2019t be able to afford to do every \u201cideal\u201d thing you are asked to. You need to propose a strategy that you can afford, and have adequate resources to carry out. This is where the second part of the strategy comes in.<\/p>\n<p><strong>OPTIMIZE:<\/strong>\u00a0 If your investment requests exceed your available budget and\/or resources, you need to develop a plan that delivers the most value for the money and resources you <strong>do<\/strong> have. In a previous post I talked about <a href=\"https:\/\/copperleaf-test.majortom.dev\/blog\/value-based-decisions-bringing-science-to-the-art-of-decision-making\/\" rel=\"noopener\">Value-based Decision Making<\/a><i>. <\/i>This is where that really comes in handy. When you can\u2019t do it all, you need to consider deferring some investments and\/or evaluate alternative ways to address the needs identified above. Value-based decision making can help you make the difficult trade-offs between risk, cost, and performance, and ensure that for your available funding and resources, you are always executing a plan that delivers the maximum value from your assets.<\/p>\n<p data-wp-editing=\"1\"><strong>MANAGE:<\/strong>\u00a0 Even the best plans never execute as expected. Emergent work, delays, and cost overruns all affect your\u00a0organization\u2019s ability to deliver on the original set of objectives.<em>\u00a0<\/em>Actual spend and accomplishments should be compared to the original plan, variances explored, and the plan re-optimized to ensure that looking forward, the organization is always focused on those activities that deliver the highest value. This process of continuous planning is an integral part of a best-in-class asset investment strategy.<\/p>\n<p>AIPM can help you make higher value investment decisions, and justify\u00a0those decisions to stakeholders.\u00a0To learn more about how AIPM supports the ISO 55000 standard, download this <a href=\"https:\/\/copperleaf-test.majortom.dev\/knowledge-hub\/a-best-practice-of-iso-55000-asset-investment-planning-and-management\/\" target=\"_blank\" rel=\"noopener\">white paper<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In any discussion about\u00a0asset management these days, the ISO 55000 standard is bound to come up. ISO published the standard in 2014 to provide guidance on best-in-class asset management practices\u00a0and\u00a0help organizations \u201crealize the maximum value from their assets\u201d.\u00a0In a nutshell, it\u2019s about choosing the \u2018right\u2019 things\u00a0to invest in\u2014the projects that will deliver the highest value, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":20818,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_searchwp_excluded":"","footnotes":"","_wp_rev_ctl_limit":""},"categories":[65,71],"industry":[57],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Success Requires Doing the Right Projects, Not Just Doing Projects Right - Copperleaf<\/title>\n<meta name=\"description\" content=\"Asset Investment Planning and Management helps organizations focus their available resources on doing the right things at the right time.\u00a0\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Success Requires Doing the Right Projects, Not Just Doing Projects Right - 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