The Asset Journal, Volume 5, Issue 3

Asset Management Culture

When people work together in an organisation, they develop certain ways of interacting and conducting their business with generally accepted modes of conduct and beliefs. Their collective behaviour and morality can be described as their culture. Business culture is of course also influenced by the leadership behaviours that provide the framework that enables the development of those attributes by the employees. Culture is therefore generally characterised by shared attitudes, values, goals and practices prevalent in organisations.

We, the practitioners of asset management, promote the art and science of asset management and by sharing the beliefs and practices of the Asset Management Body of Knowledge (AMBoK) we create and evolve an asset management culture. Historically it takes time for a culture to establish itself and become recognised as such. Asset management as a concept is not new. As a process, asset management has evolved over the last 15+years as a holistic process (life cycle view focussed), encapsulating concepts of systemic and systematic approaches to the development, implementation and practices of the asset management elements.

The conceptual asset management model states that asset management requires leadership and culture as the enablers of asset management practice. The transition from traditional cultural business models to that of an asset management centric culture should be transitional, not transactional. This requires those who already practice this type of model to spread that knowledge to the less informed. The Asset Journal presents one way to consolidate the knowledge and contribute to the establishment of an asset management culture essential to its successful practice. In the present issue we have a focus on the cultural elements of asset management, discussing values and believes and the spread of a global movement in asset management. We trust that you, our esteemed readers, take the lead and act as leaders and coaches in the establishment of asset management culture and practice.

I welcome your contributions to the Asset Journal by letters to the Editor and/or submission of an article or paper for publication.

Ernst Krauss
Editor
theasset@amcouncil.com.au

about The Asset Journal

The Asset Journal is the official publication of the Asset Management Council, commencing in 2007.

Our mission is to create a broad awareness of the value of asset management, nurture a common understanding of asset management and provide a portal to asset management knowledge and resources.