3. Risk and Opportunity!
Being stuck with a ‘useless’ and unwanted
asset is a risk
Finance
Safety
Environment
Reputation
IAM Conference 27 June 2017
4. Key Issues for Repurposing Assets
Assess the probability of no longer
having value to the organisation
Identify risk treatment:
Relocate and continue to use
Hold as Spares
Sell
Recycle / Scrap
Repurpose
IAM Conference 27 June 2017
5. Key Issues for Repurposing Assets
Repurposing in Whole Life modelling:
At creation
At end of life
Repurposing as Contingency Measure
Time to achieve new purpose is critical
to financial outcome
IAM Conference 27 June 2017
6. Lessons from Adaptive Re-use of Buildings
“… finding a legal, physically possible way
of turning an existing structure into
something that not just endures, but is also
profitable”.
Mark Dent (Jan 2017) – ‘Anchored:Philly will probably be stuck with the SS United
States forever’ www.BillyPenn.com
IAM Conference 27 June 2017
7. Alternative Purpose, alternative owner?
A different use is often of little benefit or interest
to the original owner
insufficient alignment to corporate objectives
potential for scope creep paralyses the ability
to make a decision
The new use may be valuable to a new owner
How to match purpose to owner?
Time required to do this – time costs money!
IAM Conference 27 June 2017
8. Prepare for repurposing
How to realise the alternative purpose
Select options
Anticipate and reduce barriers
Include potential repurposing in strategic
planning
‘Blue Sky’ thinking
Market intelligence
Stakeholder consultation
IAM Conference 27 June 2017
10. Summary
Repurposing is an asset lifecycle decision
Failure to prepare for repurposing may have
major consequences
Application may depend on a variety of factors
More case histories are needed
We can learn from Adaptive Re-Use of buildings
IAM Conference 27 June 2017
