Emerging Practices in Asset Management International, United States & New York

EMERGING PRACTICES
IN ASSET MANAGEMENT
International, United States & New York
MICHAEL A. SALVATO
Executive Program Manager, Enterprise Asset Management, MTA
Program Manager, Enterprise Asset Management, MTA NYC Transit
Member, US Delegation Project Committee (PC 251) for ISO 55000
Acting Chair, US Chapter of the Institute of Asset Management
Research Professor, New York University Polytechnic Institute
1
January 30, 2014

Printed12/2/20177:48PM
Publication of ISO 55000 for Asset Management
The formation of a U.S. Chapter of the Institute of
Asset Management
Emerging Asset Management Practices at The
New York Metropolitan Transportation Authority
Presentation Topics
2January 30, 2014

THE NEW SUITE OF ASSET
MANAGEMENT STANDARDS ISO
55000/1/2 WERE PUBLISHED ON
JANUARY 15, 2014
This marks the culmination of approximately three years of
development using PAS55 as the base document – a significant
step forward
The MTA was a member of the United States Technical Advisory
Group – Project Committee (PC251) for ISO 55000
3January 30, 2014

The ISO 55000 standard is comprised of three documents:
• ISO 55000 provides an overview of the subject of asset management and
the standard terms and definitions to be used.
• ISO 55001 is the requirements specification for an integrated, effective
management system for assets.
• IS0 55002 provides guidance for the implementation of such a system
What is ISO 55000?
4
ISO 55000/1/2 are the new international
standards for Asset Management
• The standards introduce the discipline
of asset management and specify the
requirements for an asset
management system
January 30, 2014

The coordinated activity of an organization to realize value from assets
• Note 1: realization of value will normally involve a balancing of costs, risks,
opportunities and performance benefits.
• Note 2: activity also refers to the application of the elements of the AM
system
• Note 3: the term activity has a broad meaning and can include the
approach, the planning, the plans and their implementation.
“Asset Management translates the organization’s objectives into asset-
related decisions, plans and activities, using a risk-based approach”
- The Institute of Asset Management
ISO 55000 defines Asset Management as:
5January 30, 2014

Definitions
• Asset – something with potential value to an organization and for which
the organization has a responsibility
• Asset System – group of assets that interact and/or are interrelated so as
to deliver a required business function or service
“Value realization is achieved through the use of analytical approaches
and implementation processes that have similar core characteristics, no
matter what the industry”
Asset management enables the
realization of value from assets
6January 30, 2014

These standards describe a Management System for Asset Management
• They do not describe processes for the management of assets
ISO Definition of Management System is a set of interrelated or
interacting elements of an organization to establish policies and
objectives, and processes to achieve those objectives
Note 1: A management system can address a single discipline or several disciplines.
Note 2: The system elements include the organization's structure, roles and
responsibilities, planning, operation, etc.
Note 3: The scope of a management system may include the whole organization,
specific and identified functions of the organization, specific and identified sections
of the organization, or one or more functions across a group of organizations.
Note 4: The asset management system also includes the strategies and plans.
ISO 55000 Asset Management System
7January 30, 2014

The relationship of the asset management
system to asset management
8January 30, 2014
Managing the
Organization
Asset
Management
Asset
Management
System
Asset
Portfolio
Coordinated activity of
an organization to
realize value from
assets
Set of interrelated or
interacting elements to
establish AM policy, AM
objectives and
processes to achieve
those objectives
Assets that are within
the scope of the asset
management system

• ISO 55000 emphasis alignment
and consistency between
organizational objectives and
elements of the asset
management systems
Key elements of an
asset management
system
9January 30, 2014

ISO 55000
• Promises to be a widely adopted international standard
• Provides assurance that the right things are being done
• Focuses the organization mission and objectives
• Maximizes value from the organization’s assets
• Differentiate your organization
What’s in it for your organization?
10January 30, 2014

Purchase the ISO Standard for Asset Management (ISO 55000/1/2:2014)
• http://www.iso.org/iso/home/store/catalogue_tc/catalogue_tc_browse.htm?
commid=604321
• http://shop.bsigroup.com/en/ProductDetail/?pid=000000000030296276#
Go to YouTube for a short animated introduction to ISO 55000
• http://www.youtube.com/watch?v=97gOiLPGE24
Sponsor a one-day briefings on asset management and ISO 55000
• Tom Smith, University of Wisconsin-Madison, TWSmith@wisc.edu
How can you learn more?
11January 30, 2014

A CHAPTER OF THE INSTITUTE OF
ASSET MANAGEMENT IS FORMING IN
THE UNITED STATES
Mission (provisional)
• Provide asset owners and managers in the U.S. with a path to the
knowledge, information and services of the IAM.
• Enhance and extend those services as appropriate to the U.S.
audience
• Contribute to the development of the information and knowledge
base of the IAM through development of issues and solutions
drawn from the U.S. audience.
12January 30, 2014

1. Advance for the public benefit
the science and practice of asset
management;
2. Promote and recognize high
standards of practice and
professional competence;
3. Generate widespread awareness
and understanding of the
discipline.
The Institute of Asset Management
(IAM) aims to:
13
Asset Management is
NOT
just about the
Management of Assets
January 30, 2014

IAM supports both ‘a Corporate
and Individual Journey’
14January 30, 2014

IAM members services offered through the
US Chapter
1. Individual Membership
2. Corporate Membership
3. Events
4. Knowledge Product, e.g. publications,
training specifications and materials
5. Tools, e.g. ISO55000 self assessment tool
6. Qualifications
7. “Intangibles”
15January 30, 2014

Become a member of the Institute of Asset Management
• Contact: Diane Baseley, diane.Baseley@theIAM.org
• Website: www.theIAM.org
Get involve with the US Chapter and Division
• Contact: Katie Sweet kaitie@reliabilityweb.com or Michael Salvato
michael.salvato@nyct.com
Host a local US IAM ISO 55000 briefing
• Contact: Tom Smith, TWSmith@wisc.edu
How to get involved with US IAM?
16January 30, 2014

EMERGING ASSET MANAGEMENT PRACTICES
AT THE NEW YORK METROPOLITAN
TRANSPORTATION AUTHORITY
Chairman's Vision, mandate, and policy
MTA Asset management strategy
• Asset management strategies and plans
• Improved planning and decision making
• Development of organizational capabilities and change management
• Asset information strategy
• Reliability and maintenance excellence
Program, Change and Benefits Management
17January 30, 2014

Providing public transit is asset-intensive
January 30, 2014 18

… and has inherit risks
January 30, 2014 19

Maintenance is capital intensive …
20January 30, 2014

… and can require lots of labor
January 30, 2014 21

Many assets are in or close to a state of good repair
… yet a backlog remains
0 10 20 30 40 50 60 70 80 90 100
Ventilation Plants
Maintenance Facilities
Power Substations
Communications
Tunnel Lighting (miles)
Passenger Stations
Signals
Pumps/Deep Wells
Elevators & Escalators
Passenger Rail Car Fleet
Mainline Track (miles)
Mainline Switches
In Good Repair
Backlogged
% Percent in good repair
NYCT Department of Subways
State of Good Repair Status (Investments through 2014)
December 2, 2017 22

Yet the gap between our needs and
capital funding is growing
January 30, 2014 23
$17
$21
$20
$21
$25
$14 $14
$16
$14
$12
$-
$5
$10
$15
$20
$25
$30
1987 - 1991 1992 - 1996 2000 - 2004 2005 - 2009 2010 - 2014
Billion(in$2012)
Program year
NYC Subways

• Stakeholder expectations
• Consumer experience
• Transparency
• (Un)willingness to pay
• ISO 55000
• Big Data and Smart Cities
• Instrumented
• Interconnected
• Intelligent
• System complexity and risk
• Value for money
• Sustainability measured by the triple bottom line
Asset management can be a game changer
24January 30, 2014

MTA Chairman's mandate, vision, and policy.
25January 30, 2014

Transit needs a robust asset management system to manage the
increasing complexity of operating and capital requirements
• Establish an even more effective management system that supports more
informed planning and decision making
• Demonstrate to our customers, employees, funders and critics that we are
doing the right thing with our budget, fares and subsidies.
Thomas F. Prendergast
as President, MTA NYC Transit
October 2011
Our Mandate
January 30, 2014 26

2020s – Whole Life Asset Management
January 30, 2014
The MTA vision is to be recognized as
a world leader in asset management
27

January 30, 2014 28

• Asset management strategy and
plans
• Whole Life Planning and decision
support
• Development of organizational
capabilities and change
management
• Asset Information Strategy
• Reliability and Maintenance
Excellence
The MTA Asset Management Strategy
has five priorities
29January 30, 2014

The target operating model forms the basis for delivering
efficient transportation services given constraints
January 30, 2014 30

The Concept of Operations proposed an
integrated 3-level investment planning system
January 30, 2014 31
Decision
Criteria
Business Planning
Medium term planning to achieve
organizational goals and objectives
Network Planning
Optimized plans to achieve the required
system performance
Asset Class Planning
Optimized plans for an asset class to achieve
the required asset performance
Operations
Planning
Maintenance
Planning
Project
Planning
Investment
PlanningDelivery
Planning
MTA
NYCT
Funding
Levels
Customer
Service
Guidelines
NYCT

Outcome priorities,
decision criteria
and risk tolerance
System risk, cross
asset optimization
given constraints
Asset risk, models
and planning
optimization
Business intelligence and decision analysis is
needed at the strategic, network and asset levels
32
Strategic Level
Decisions
• Setting longer term business goals and objectives
• Balancing multiple stakeholder needs
• Business planning to achieve business objectives
Network Level
Decisions
(Subway & Buses)
• Balancing across different asset classes to deliver
the required route/network performance
Asset Class Level
Decisions
• Determining the optimal mix of maintenance/refurb.
/replace/improve options to optimize lifecycle
performance balancing cost, risk and performance
Decision Level Accountability Requirements
January 30, 2014

Required
Outcomes
How do we choose among competing options to maximize
outcomes?
33
Organizational
Priorities
(Decision Criteria)
Investment
options
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Etc...
Maximum
Transit
Benefits
Performance
Customer
Satisfaction
Safety Etc...
Customer
Service
investments
Rolling Stock
investments
Infrastructure
investments
Technology
investments
Etc...
Constraints:
Safety, Funding, Operational, Technical, Legal, etc.
January 30, 2014

Decision criteria and performance objectives cascade from
each planning level providing a clear line of sight to business
outcomes
34
Asset Class
Planning
Network
Planning
Business
Planning
Business
Outcomes
Enhanced
Customer
Experience
Transit
Performance
Operational
Excellence
Organization
Capability
Sustainability
Performance
Enhanced
Customer
Experience
Transit
Ridership
Transit
System
Performance
Safety,
Security
Sustainability
Performance
Enhanced
Customer
Experience
Asset
Capability
Asset
Performance
Asset Failure
Risk
Environmental
Performance
Financial
Performance
Financial
Performance
Financial
Performance
Asset
Performance
Network
Performance
Mission &
Vision
January 30, 2014

Analytical tools can support asset level models, cross asset optimization
and financial decisions that balance lifecycle performance, cost and risk
Financial model – rapidly links the investment plan to
financial performance of the company and assesses the
affordability.
Cross asset system optimisation – allows the
investment programme to be balanced across assets,
risk and performance
Asset level models – allows investments targeted at
assets, balancing risk, performance with whole life costs:
• Strategic models – deliver 25 year plans
• Tactical models – deliver next five year plan
Source: Bristol Water’s Investment Planning 35
January 30, 2014

Decision support tools can help to manage assets by
looking at single and cross asset strategic solutions
January 30, 2014 36

Operational
Excellence
People are a pillar of the NYCT Asset Management System
defined in our Concept of Operations
January 30, 2014 37
NYCT Strategic Direction
goalsandobjectives.
Measureperformance
MTA Corporate Direction
Procure / Design Build Operate / Maintain Dispose
Planning and
Decision Making
Business Planning
Network Planning
Asset Class
Planning
Concept Model of the NYCT Asset Management System
Asset Knowledge and Information Systems
Leadership, People
and Organization

World class asset management will
require step changes in our organization
January 30, 2014 38
Functional silos supporting
planned and reactive
maintenance
Clear roles and
responsibilities for process
owners, managers and
participants
Cross-functional teams
working to prevent and
predict failure based on
criticality and risk

Everyone in the organization must:
• Be empowered to implement agreed strategies and plans;
• Be fully involved and participation valued in decision making;
• Be clear on the direction which the organization is going; and
• Share a common mental model of the means to achieve that
direction.
Our culture is evolving as our organization matures
January 30, 2014 39

The adoption of asset management
happens one person at a time
Awareness of the need for change
Desire to support and participate
Knowledge on how to change
Ability to implement required skills
and behaviors
Reinforcement to sustain the change
January 30, 2014 40

Process changes:
• Does the system require changes to the
work processes in the environment?
Job changes:
• Does the system de-skill the users in an
environment or cause them to change
the way they work?
Organizational changes:
• Does the system change the political
power structure in the organization?
Human & organizational factors will determine
the system requirements, design & adoption
January 30, 2014 41
Jose Luis Mate and Andres Silva (2005). Requirements Engineering
for Sociotechnical Systems.

Asset Information Strategy
• Asset Information Requirements
• Asset Information Management
• Asset Level Process Model
• Asset registration, taxonomy and
hierarchies
Asset Information Systems
• High level System Requirements
• High Level System Architecture
Our Vision (for Asset Information) is common
end to end processes and a single EAM information
system to support “One MTA”.
42January 30, 2014

• Asset registration
• Asset Lifecycle Planning and Management
• Decision Support
– Condition Monitoring, Predictive Models,
Investment Models and Risk Assessment
• Safety management
• Work management
– Preventative, Corrective and Emergency
Maintenance
– Planning and scheduling,
– Work execution,
– Work Completion
– Compliance,
• Reliability and Failure Analysis
• Material Management
• Financial Management
• Performance management
Asset management processes require good
information
January 30, 2014 43

An integrated approach to asset information
management is required to achieve the asset
information vision
January 30, 2014 44
Asset
Information
Management
Organization &
Management
Governance &
Assurance
Data Definition
& Management
Process
Development
Analysis,
Reporting &
Business
Intelligence
System
Implementation
& Management

Data only needs to be captured to support
business processes and decision making
January 30, 2014 45
Work Management &
Registration
Work Planning
Operations
Work
Capital Work
Maintain
Replace
Performance
Management and
Reporting
Labor & Material Management
Resourcing
Supply Chain
Management
Financial
Management
Plan / Schedule
Assign
Execute
Record
Asset Level Process Model

• What business function are we
enabling ?
• What capabilities are needed to
support that business function?
• What applications and tools are
needed ?
• What technology will we use to
enable the applications and
tools ?
Business and operations needs to define the requirements
for systems and technologies in an enterprise architecture
January 30, 2014 46
Business
Operations
Systems
Technology
Capabilities.
Requirements

January 30, 2014
High-level business requirements were defined in the EAM
Concept of Operations and Asset Information Strategy
•Geographic Information System
•Real Time Condition Monitoring and Data Capture
•Asset Specific Enhancements
•Work force and field devices
Enhanced Asset Management
•Asset Registration
•Work Order Management
•Labor, Material and Track Access
•Failure and Reliability Management
•Activity-based Costing
Base Asset Management Functionality
Asset Planning
•Performance Management
•Asset Management
•Risk Management
Mission
•Performance Reporting
•Integration with PeopleSoft for ERP
•Integration with Operational Information
Business
Intelligence
and Analytics
Business Planning
•Business Investment Planning
•Network Investment Planning
•Asset Investment Planning
Investment Planning,
Forecasting, & Modeling
•Network Configuration and Simulation
•Building Information Management
•Engineering Document Management
•Supply Chain Management
Network Modeling and
Configuration Management
Network Planning
47

January 30, 2014
A high-level system architecture has been defined that integrates the
base AM system with financial, planning and decision making.
Source: Modified architecture from presentation by SEAMS
48
Network Simulation and Engineering Configuration Management

The proposed asset
taxonomy:
• Supports business, network
and asset planning and
decisions
• Is built upon reliability and
maintenance data
• Used ISO 14224 and FTA AM
Guide recommendations
A common asset
taxonomy has been
developed as a foundation
to design asset hierarchies
January 30, 2014 49
Principle Taxonomy for NYCT
EventData.
AssetPlanning
EquipmentData.
AssetPlanning
Location/Usage,Data.
NetworkPlanning
Location/Usage,
Data.Business
Planning
MTA / Transit
Subways / Buses
Location / Usage, Level 2
Location / Usage, Level 1
Location / Usage, Level N
Location
Specifics / GIS
Component
Asset System
Maintainable
Managed Level
Asset
Characteristics
Parts, Bill of
Materials,
Resources
Preventative
Maintenance
Corrective
Maintenance
Malfunction
Asset Subsystem
Analysis
Inspection
, Testing
Condition
Monitoring
Periodic
Tasks

The asset hierarchy is designed to support the
management of risks resulting from asset failure
Source: ISO 14224: Petroleum, petrochemical and natural gas industries - collection and
exchange of reliability and maintenance data for equipment
Analysis of failure data
over time leads to
improvements in
equipment reliability
January 30, 2014 50

The proposed taxonomy will help the MTA move to
reliability based approach to maintenance
Reference: Discussions with Network Rail on Risk-based Asset Management, and Moubray, John., RCMII
Reliability Centered Maintenance, Second Edition, Industrial Press, 1997
Reliability-Centered Maintenance (RCM) is a process used to determine what must be
done to ensure that any physical asset continues to do what its users want it to do in
its operating context
• What are it’s functions?
• In what ways can it fail?
• What causes it to fail?
• What happens when it fails?
• Does it matter if it fails?
• Can anything be done to predict or prevent the failure?
• What if we cannot predict or prevent the failure?
January 30, 2014 51

The Asset Criticality Project identified metrics
that relate to NYC Transit business objectives and risks
January 30, 2014 52
Consequence bandings:
 Service.
 Performance
 Safety
 Sustainability
 Cost
Frequency of Occurrence:
How often an event results in
asset / system failure.
The combination of frequency
of occurrence and
consequence banding
determines criticality

A reliability-based asset management strategy that couples risk
management, standard work, and condition-based maintenance to properly
apply resources based on process criticality is now possible
Source: Accounting for Risk in Your Asset Management Strategy (2009)
Life Cycle Engineering, Inc. | www.LCE.com
53January 30, 2014

January 30, 2014 54
MTA Bus Operations is introducing
Reliability Based Maintenance

Maintenance and reliability provide the foundation for
whole-life asset management and operational excellence
55
Operational
Excellence
Whole-Life
Asset
Management
Reliability
Excellence
Maintenance
Excellence
Operational Excellence stresses the
application of a variety of principles,
systems, and tools toward the sustainable
improvement of key performance metrics.
Asset Management is the "coordinated
activity of an organization to realize value
from assets“ over the life of an asset or
asset system
Maintenance and Reliability Excellence
is based upon a well-defined body of
knowledge and management practices
“Excellence is a Habit”
- Aristotle, 330 BC
January 30, 2014

MTA Bus Operations is using a FTA grant to introduce reliability based
maintenance and whole life cycle asset management using a sample set of the
revenue fleet
January 30, 2014
Project Objectives
• Develop Whole Life Asset
Management policies, strategies,
procedures and plans
• Implement end-to-end business
process for Whole Life Cycle Asset
Management
• Develop organizational capacity and
training
• Implement information systems
required to support Asset
Management
56

The FTA 5309 grant will provide
support for the development of new
risk-base maintenance policies and
procedures.
RBM manages life cycle costs by
increasing proactive maintenance
and decreasing reactive
maintenance activities.
RBM will adjust the maintenance
systems to further develop agility
and adaptability to change and
improvement throughout the
maintenance life of the bus.
Reliability Based Maintenance (RBM) focuses upon a proactive
methodology in order to maximize Bus rolling stock revenue fleet availability
and reduce life cycle costs.
57January 30, 2014

Sponsorship
Leadership
Change
Management
Program/Project
Management
Three key factors driving the success of
the asset management program
Program
Success
January 30, 2014 58

Our approach to the
Asset Management
Program
Systems Engineering
Change Management
Enterprise Architecture
International
Standards
Program / Project
Management
January 30, 2014 59
Standards
Rapid
Improvement

Program leadership comes from each
of the MTA operating agencies
January 30, 2014 60
MTA HQ
EAM Program Coordination
Subways
EAM
Program
Buses
EAM
Program
Paratransit
EAM
Program
LIRR
EAM
Program
MNR
EAM
Program
B&T
EAM
Program
Capital
Construct.
EAM
Program

Subway Change
Team
Buses Change
Team
EVP Change
Team
CPM Change
Team
At the agency level, a program organization has been established to
provide direction, deliver benefits and manage change
January 30, 2014 61
NYCT President
SVP Subways SVP Buses EVP SVP/CE CPM
Executive Committee
Program Manager
EAM Program Board
Subways Business
Change Manager
Buses Business
Change Manager
EVP Business
Change Manager
CPM Business
Change Manager
Executive Program
Sponsor
Asset
Management
Business
Analysis
Asset
Information
PMO
Program/Project
Management
Change
Management
EAM Program
Manager

• NYCT Asset Management Program Mandate – October 2011
• MTA All Agency Coordinating Committee – May 2012
• MTA Asset Management Policy – March 2013
• MTA All Agency Kick-off – September 2013
• Complete Gap Assessments and Program Plans – 2014
• Compliance with International Standard ISO 50000 – 2017
• A World Class Asset Management System - 2020
Milestones in our Journey to World
Class Asset Management
January 30, 2014 62

Asset management is expected to generate
wide ranging benefits for the organization
January 30, 2014 63
Potential Benefits
PERFORMANCE
Improved performance
Improved customer satisfaction
Increase in revenue/output
COST Optimization of whole life cost of ownership
RISK Risk reduction
TRANSPARENCY Shared Knowledge and Information
SUSTAINABILITY
Financial
Environmental, Social

2018-19
Advanced
January 30, 2014 64
The Concept of Operations also defines a roadmap, milestones
and outcomes for a PAS55/ ISO55000 compliant asset
management system.
2016-17
Compliant
2013-15
Basic
Achieve Maturity Level of 2 on
all BSI PAS 55/ISO 55001
requirements
• Resources mobilized to deliver
the Asset Management
Improvement Plan (AMIP).
Business Case detailed and
approved.
• AMIP Working Groups and
Governance established.
• NYCT strategic direction
defined and performance
baselined.
Basic NYCT AMS developed
and implemented to achieve
certification to ISO 55001
• AMIS and decision support
tools (DSTs) implemented to
support effective planning and
decision making.
• Existing processes and
organization aligned and
integrated to form NYCT AMS
foundation.
Achieve Maturity Level of 4 on
all BSI PAS 55/ISO 55001
requirements
• NYCT AMS vision fully realized
with systems and processes
monitored, optimized and
continually improved.
• NYCT AMS is recognized as
an international benchmark.

65
2014-15
Basic Asset Management
2016 -17
ISO 55000 compliant
2018-19
Advanced Asset
Management
2020 Vision
Enterprise information and
decision support tools
Process, organization and
system integration
Optimization of planning and
decision-making
Fully Integrated Enterprise
Asset Management System
Business
Outcomes
Transit
Outcomes
Customer
Experience
Financial
Performance
Sustainability
Performance
Network
Performance
AssetsPlanning
anddelivery
UnitCost
Savings
5-10% reduction
in unit cost
10-20% reduction
in unit costs
Business
Performance
Excellence
Capabilities
Network
Ridership
Performance
Safety
Asset
Capability
Performance
Risk
NYCT able to
demonstrate it knows
what it is doing with
clear asset investment
strategies in place for
all asset groups
Prioritized and
optimized lifecycle
plans developed
through revised
planning arrangements
Asset performance
targets are clearly
linked to “levels of
service” expected by
customers and
customer satisfaction
levels are measured.
Network performance
parameters help
strengthen 20-Year
Needs (capacity,
service, ambience,
condition)
Informed investment
choices deliver the
best value to NYCT in
terms of cost, risk and
performance,
minimizing lifecycle
cost
Improved network
performance,
satisfied customers,
and service output
provide justification
for securing further
funding
Strategic objectives
and related measures
“correlate investment
decisions with transit
outcomes”
Clear metrics provide
visibility of
performance through
dashboards and other
focused reporting
Strategic direction and
objectives cascaded
through Agency and all
are fully aware of
strategy and direction
January 30, 2014

Michael Salvato, Executive Program Manager
Enterprise Asset Management
Metropolitan Transportation Authority
Email: michael.salvato@nyct.com
Phone: (646) 252-6859
Emerging Practices
in Asset Management
International, United States & New York

Emerging Practices in Asset Management International, United States & New York

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