About
Key Learning Objectives
• Improving asset management by understanding and appreciating the financial objectives
• Understanding and applying relevant budgeting and cost management process related to asset management
• Identifying efficiency improvements to reduce asset operation and management costs
• Evaluating capital investment decisions in the context of asset economics
• Building a robust pricing mechanism for asset outputs
• Formulating business models for cost effective service delivery
• Developing performance management frameworks
• Managing assets within acceptable risk thresholds
• Understanding the linkage between asset management, business plans and financial plans
Effective asset management strategies require that both physical and non-physical assets are holistically managed and operated. The objective is to provide an efficient and effective active service so as to meet the assets service delivery requirements at the lowest long run cost. Applying asset economic modelling to effectively manage life cycle cost of owning, managing, operating and maintaining assets combines asset management principles with robust financial management tools and techniques.
Good asset management integrates with corporate strategy development and business planning and ensures that non-asset solutions, life cycle costs and risks are considered through the key phases in asset life cycles.
The various asset life cycle phases are supported by numerous planning philosophies and business support systems including asset information management systems, asset management plans, activity based costing and management systems as well as integrated performance management frameworks. They all support good investment decisions. Effective management of life-cycle asset costs is the joint responsibility of the finance professional and the asset manager of the organisation. This course will take participants through the entire asset and business planning framework and also provide an understanding of performance management frameworks.
“Aubrey has the knack of presenting relevant information at the correct time. He knows his stuff and has excellent experience to share with the class.”
Colin Glass, Accountant, Department of Corrections
Who should attend?
• Asset Managers
• Asset Planners
• CFO’s
• Financial Controllers & Managers
• Corporate & Business Planners
• Strategic Planning Managers
• Pricing Regulators
• Economists
• Project Managers
• Operational Managers
Outline
Day One
Asset economics: Balancing financial and asset outcomes
• What is the concept of asset economics?
• Relating service strategies to asset capabilities
• Understanding the relationship between asset management and financial objectives
• Factoring risk into asset economics
• Achieving the optimal balance and minimum life-cycle cost
Linking asset management to organisational business planning
• Understanding an organisation’s strategic planning framework
• Establishing the ultimate goals and objectives of the organisation
• Establishing customer requirements and servicing strategies
• Evaluating asset capability to deliver the service outcomes and identifying gaps
Identifying and understanding the underlying cost base
• Analysing financial data to identify types of costs
• Capturing operational data that will assist with understanding costs
• Establishing a direct operating expenditure (DOE) base line
• Identifying the financial performance of the assets
Applying ABC/ABM principles to asset economics
• ABC/ABM and output budgeting
• Rolling forecasts - a continuous view of the organisation
• Identifying mandatory and discretionary spend
• Prioritisation of discretionary spend
• Using internal benchmarking as a de-facto budget methodology
• The role of technology in the decision to change
Day Two
Capital investment decisions
• Establishing a robust framework for investment planning management
• Evaluating options based on sound financial bases
• Applying traditional financial evaluation techniques
• Management accounting tools and techniques supporting investment decision making
• Management gateways to ensure robust decision making
Asset management strategies
• Definition of the asset management concept
• Developing a strategic framework for asset management
• The asset planning process
• Identifying and evaluating life-cycle management options
• Identifying and costing the risks in asset management strategies
• New business models for efficient and cost effective operations
Developing asset management plans
• The purpose of the asset management plan
• Contents of an asset management plan
• Data sources that contribute to the asset management plan
• Uses of the asset management plans
• Financial input into the asset management plans
• Keeping asset management plans current
Developing an organisational performance management framework
• What are the relevant performance indicators?
• Introducing non-financial measures to complement traditional budget and cost controls
• Mining data for effective asset management
• Developing reporting formats that make sense to the business
• The ultimate performance management framework
• Developing an asset scorecard
Facilitator
Aubrey Joachim , Principal Consultant, Leading Edge Change
Aubrey Joachim (Australia) FCMA; MBA; GAICD is a Chartered Management Accountant – a Fellow of the Chartered Institute of Management Accountants UK, and MBA and a Graduate of the Australian Institute of Company Directors. He has over 30 years of strategic management accounting experience with global conglomerates (Anglo-Dutch conglomerate Unilever and US Energy giant McDermott International Inc.) in South Asia, the Middle East, South East Asia and UK. Since 1993 Aubrey has been an Australian citizen and been involved in the financial services sector and Sydney Water Corporation (world’s 5th largest water & waste water company) in senior finance roles.
In 2005 Aubrey set up his own boutique consulting organization – Leading Edge Change, essentially focusing on delivering public and in-house training and development workshops and seminars in finance, management accounting, strategic management, asset management, beyond budgeting & forecasting and Finance Transformation in a number of countries across the world. He runs programs in New Zealand, Australia, Singapore, Malaysia, Thailand, Vietnam, China, Philippines, India, Sri Lanka, Dubai, Abu Dhabi, Oman, Bahrain, Tehran, Kenya, Uganda, Zambia and the UK. With this wide background experience of cultural and linguistic diversity Aubrey has the ability to appeal to any audience.
Aubrey also works with professional bodies and is a trainer for the Australian Institute of Company Directors, as well as conducting professional development courses for CIMA in the UK, Malaysia, Sri Lanka, UAE, Southern Africa, Hong Kong, New Zealand and Australia, The Institute of Chartered Accountants in Australia, CPA Australia, MIA in Malaysia and the Institute of CPA’s Singapore (ICPAS) and the Honk Kong Institute of CPA’s.
Aubrey is consistently rated very highly by his various audiences globally and is a presenter in high demand.
He writes on technical and managerial topics and has been published in professional journals including CIMA and the National Accountant (Australia). He has also been contributing a monthly article on Management Accounting in the Charter Magazine – the monthly journal of the Institute of Chartered Accountants, Australia.
In 2009/2010, Aubrey became the first non-British/ Irish global President of the prestigious global management accounting body CIMA – the Chartered Institute of Management Accountants UK in its 90 year history. This global position gave him significant exposure and public profile. He has been written about and provided opinion pieces that have been published in various countries. In his CIMA presiddential role he has presented on Finance Transformation to global multinationals such as Shell, Ford, Rolls Royce, Unilever, Barclays Bank, IBM, Time Warner and Swire Coca Cola.
Aubrey Joachim is also facilitating:
In-house Training
Sorry, this event currently has no dates scheduled.
