PAM Drinks & Networking Evening – the Swan at the Globe – 28 February 2013
This PAM event was held at the Swan at Shakespeare’s Globe Theatre, Millbank, London on Thursday 28 February. It was our most successful event to-date, with some 80 people from the property asset management and facilities management industries spending an enjoyable and informative evening networking (and drinking) with their peers.
There was plenty of interesting and animated discussion over wine and canapes, and a very entertaining tour of the Globe Theatre. Earlier in the evening, there were two short presentations, introduced by Oliver Ridgwell, Atrium’s Sales & Marketing Manager. The first was from Terry Pitt, co-founder of Atrium Software and its Product Manager. He was followed by Hugh Harford, Senior Consultant at CAS, and editor of the IAM’s Assets magazine, who spoke on behalf of the Institute of Asset Management.
Terry Pitt – the key principles of Property Asset Management
With a career in property surveying and IT spanning some 40 years, Terry is in a privileged position to share his experiences of how organisations can optimise its property portfolio.
Way back in 1978, Bath City Council were struggling to manage their housing maintenance and asked Terry for help. He recommended a computer system that structured data consistently, handled large volumes of data efficiently, captured requests and recorded decisions and actions. As a result, Bath moved to a sustainable, integrated solution that was also systematic (consistent, repeatable and auditable), systemic (structured) and holistic.
The next experience Terry shared with us dates back just 6 years. In 2007, a London Borough ask Terry’s help in submitting an application for Decent Homes funding. It needed to demonstrate it was based on reliable data and would deliver value for money. With tight budgets and timescales, a full property survey was prohibitive, and so to evidence an optimal proposal which balanced costs, performance and risk, a risk-based approach was adopted.
Terry explained how Atrium’s Enterprise Asset Management solution brings together these key principles, and how, rather than re-inventing the wheel, Atrium has used the Publicly Available Specification (PAS) 55. Published by the British Standards Institution and soon to become ISO 55000, it provides an excellent framework. He doesn’t suggest everyone immediately plans to get certified, but he would recommend adopting its principles.
Hugh Harford – PAS 55 and ISO 55000
Hugh explained that as PAS 55 turns into the international standard, ISO 55000, it will introduce compliance measures that ensure organisations are reporting on a broader range of information including financial and corporate. When this happens, as has done with the ISO9001, it will be a qualification that is looked-for and expected from an organisation that considers themselves good at managing physical assets.
A key take-away from the evening is that although there are changes to the standards for asset management, “it is not a revolution, it is an evolution” of what many companies have done for many years already. Working within a framework such as PAS 55, or ISO5500 when it is published, is important because organisations will gain significant, tangible benefits from the efficient management of their physical assets.