20-03-2023 By Gordon Mains
Asset Management
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The Value of Leadership for Asset Management

There is a myriad of case studies and research articles based on leadership and management, but the role and criticality of leadership and the specific qualities required to implement a productive and high-performing Asset Management system are somewhat undefined for energy operators.

In the context of Asset Management, when seeking alignment, the focus for energy operators should be specifically aimed at integrating the organisational goals of the business paired with a strategic plan for success. The same level of consideration should be given by leadership to the critical value and impact it brings across multi-functional departments of varying sizes and complexities. Some of the key components for asset management leadership success include:

CLARITY.

Firstly, all leaders within the organisation must be clear on their role in ensuring a smooth running of Asset Management, including how they influence and drive the existing systems and processes.

UPSKILLING.

Before embarking on the Asset Management journey, upskilling at the leadership level may be required. Assessing and identifying the Asset Management skills and competency gaps of leadership can assist with providing support and upskilling knowledge crucial to successful Asset Management performance.

COMMUNICATION.

Effective communication is an essential element to ensure strategic alignment between leadership and the Asset Management team. Without this, there is a risk of reduced momentum and the longevity of Asset Management programmes.

COMMITMENT.

Lastly, commitment from the senior executives across all parts of the organisation needs to be demonstrated to help cement the standards required to deliver on the operational Asset Management objectives.

Penspen’s Asset Management team have extensive experience in supporting leadership teams to utilise and fully optimise their asset management processes. Get in touch below to find out how we can work together and upskill your leadership teams:

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