The concept of “value to an organization” is getting significant attention in the current rewrite of the ISO 55K structure for asset management. This week’s ALN Th@4 pm ET on August 5 will include a discussion of value from assets between Jack Kelly and ALN CEO, Jim Dieter. As always, see more in People and register at this link.
Our Ideas and Sources pieces provide links to ways of thinking and acting to increase value at your organization. See more below.
Finally, we welcome the ABS Group as sponsor of this Newsletter. ABS Group has launched an ISO 55000 consulting service and is working with the ALN on White Papers, Web Programs and other content delivery events. Thank you to ABS Group for your support.
Data-Driven Solutions
for Risk and Reliability
People
Jack Kelly, ALN Board of Directors Member and ALN Senior Fellow has been a great value to the ALN – and to any organization he is involved with. It is an honor to have Mr. Kelly’s insights and ability to connect dots between the many issues he is actively involved with after leaving the OMB after 36 years of continuous service. It is an even greater honor that Mr. Kelly credits the ALN with getting him involved in international standards writing. He is passionately focused on communicating a clear message about the benefits of a structured approach to asset management and he is an excellent extemporary speaker. We look forward to his casual conversation with ALN CEO, Jim Dieter.
Ideas
Value Reporting as Corporate Necessity
The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the accounting profession, academia and NGOs. Together, this coalition shares the view that communication about value creation, preservation or erosion is the next step in the evolution of corporate reporting. The IIRC published an updated version of its integrated reporting framework earlier this year. The primary purpose of an integrated report is to explain to providers of financial capital how an organization creates, preserves or erodes value over time. This approach could be an excellent companion to an ISO 55000 structured approach to asset management.
Sources
Construction Value Toolkit
The Construction Innovation Hub is a U.K.-based organization that has published a Value Toolkit to drive better social, environmental and economic outcomes through value-based decision making. The Value Toolkit has five interlinked streams: Value Definition, Client Approach, Risk, Measurement & Evaluation and Appointments. These are not isolated streams, but involve interaction, iteration and continuous review. Within each of these streams of the Value Toolkit there are steps, deliverables and decision points. Use the Value Toolkit to assess and improve any infrastructure construction project.
ABS Group provides data-driven risk and reliability solutions and technical services that help our clients confirm the safety, integrity, quality and environmental efficiency of their critical assets and operations.
Upcoming Events
ALN Th@4 ET
Thursdays at 4 pm Eastern – Register Here
August 5 –
Jack Kelly, ALN Board of Directors Member, ALN Senior Fellow and retired from 36 years at OMB
August 12 –
Colonel (ret.) Ronald Bordenaro, led a Marine Corps Engineering Battalion in Hue, Vietnam and transferred to the USACE to finish his military career. He also taught carpentry and served as the Building Code Enforcement Officer for the Village of South Holland, where he grew the department from a 1-person operation to a 6-person revenue generating team. This will be a special summer edition of ALN Th@4.