Change the World with the Power of Asset Management Storytelling
With every asset-related decision we guide and influence, our asset management fraternity can be the change we want to see in the world. Vibrant, thriving, and sustainable communities are our passion and goal. We bring collective global science to this task to ensure that our recommendations are evidence based. But the most critical (and sometimes challenging) step is converting the technical analysis and outcomes into a relevant, community-focused story that is compelling, easy to understand and speaks directly to people’s lived experiences.
Join our panel of strategic asset management (SAM) experts to hear tips to gain traction with stakeholders and see real-world examples of effective stakeholder engagement.
Wominjeka. Welcome everyone.
Whether you're joining us today live on the webinar, or whether you're watching this on the recording, we really appreciate you taking time out of your day to be a part of the brightly in sites webinar.
So my name's Dave horseman. I'm the senior manager for the strategic asset management team here in Australia.
And I'll be your host for the webinar today. We've got a panel of presenters that I think you'll find really exciting and really interesting and I'll just help facilitate the discussion.
But before we do that, I just wanted to pay our respects to the traditional owners of all lands on which we are meeting today and to their elders past, present, and emerging.
We celebrate the rich culture, tradition, and history of first nations people around the world and commit to always learning from their vast knowledge in caring for country.
So just a few housekeeping items up front. So the first thing is we love your questions and we love your comments. So please, you'll see on your screen that there's a Q and A function in amongst the icons that are available to you. As we're going through the webinar today, please don't hesitate to drop any questions, any comments, any discussion points that spring to mind drop those in the Q and A, and we've allocated a nice chunk of time at the end of the webinar to dive into that discussion with you. So please don't hesitate to do that.
Also, if you want to get to know a little bit more about our presenters, you'll see that there's an icon that allows you to access the detailed bios for each of our presenters today.
And if you are keen to learn anymore and maybe just have a yarn with by all means, use the icons on your screen there to either contact us or request a demo.
So in terms of today's webinar, so you will have seen the the purpose of today. We're really looking to try and talk to you about some of the things that we've learned in terms of really effective engagement tools, things that can really help you tell a compelling community focused asset management story. And to do that, I'll briefly set the scene. And then I'll hand over to different members of our panel who take us think take us through things like getting back to basics. How do we actually frame our message?
Then looking at how you can use really powerful and engaging visualizations to get stakeholder engagement and stakeholder buy in. We'll also take a little bit of a dive into something a little bit left of field because this will really be about unifying your own internal story. So we're going to just quickly touch on something that I know can be a pain point for a lot of people. We're going to talk through what it's like to actually genuinely collaborate in a works paging platform.
And to wrap up that before question and answer, we'll do a bit of a summary in terms of what those key opportunities are that we've identified And if you feel perhaps that there are any barriers or obstacles to you within your own organization or your own community in leveraging these tools, We'll just briefly talk about how you might look to unlock those opportunities.
And as I mentioned, we've got a nice chunk of time question and answers. I'm really looking forward to that discussion. And of course, we'll close out the session by three PM today.
So your panel of presenters, there's myself who you've already met, but you'll also be meeting in order Michael Butler, Rory Gibbons, Jack Chow, and Renuka Ranowera.
All of those four are members of the strategic asset management team in Australia, and all have a great breadth and depth of experience with clients, but also on the client side themselves. So they really understand what it's to be in your position and then to achieve the things that you're trying to achieve. So even though we only have a brief amount of time today to talk to you, I think you'll get some good insights out of what they have to to present to you.
So in terms of setting the scene just really briefly, So as I mentioned upfront, today is really all about that engagement process. And the way we like to frame that is in terms of being able to tell your asset management story. The reality is all of you bring a great breadth and depth of knowledge, experience, or skills, ability. And often in any given circumstance, you'll have a whole lot of data and technical analysis that feeds into your management decision making.
But sometimes the thing that can just be that source on top that'll just take that whole messaging to another level is being able to use methods and tools that are really, really simple and really engaging. So the whole purpose today is to really talk you through some of our own learnings in that regard.
And I know that probably when the title came out, I'm guessing you can all tell me if I'm wrong I'm guessing that you went change the world, really a bit aspirational, maybe a little bit lofty, but I'm here to tell you today that absolute you bet. And the reason why I say that is if we take a moment to pause as asset management practitioners and just think about all of the different parts of our community that we have the opportunity to influence on a day by day basis.
And that's why I've dropped this image in front of you. This is actually an image I took a couple of years ago to demonstrate just the breadth and depth of assets that can exist in one single location. This location being Flinders Street, station, any of you familiar with Melbourne.
And, ultimately, this is the intersection of flinders and swanston. So at face value, it's an intersection like any other. It gets quite busy. There was a bit of construction going on at time. But what I'd asked you to do occasionally is just pause and look around and see all of the different assets that sit there, whether paths, roads, tram tracks, trams, buildings, signage, signals, the open space, the fencing, you name it In order for that intersection to function as it should, this is really a microcosm into our community. And every single one of those assets need to have a plan in terms of how it can be sustainably managed.
So I would argue that this is a great example of why literally as asset management partition is you genuinely have the opportunity on an everyday basis to craft the kind of world, to craft the kind of communities thriving, vibrant. Basically, the communities that we all wanna be a part of, you are a fundamental aspect of achieving that. So I would encourage you to keep changing the world every single day.
So with that in mind, I'm going to hand over to my butler who's gonna take you through a back to basics. How are we going to frame our message over to you, Michael?
Thanks, Dave, and welcome everyone to today's webinar. I wanted to start today by going back to basics with how you frame your asset management story Now this statement for me, it's from a superseded policy, but it's stuck with me since the start of my career. A better service not a better asset is a key indication of successful asset management. You know, to me, this is why we do what we do and it's why I get excited about asset management every day and it's the lens that I look at asset management through. It's where I start to build my stories from, you know, how I frame it. Doesn't need to be explicitly said when you're telling your story, but knowing that frame of reference and having it impact how you talk about services, your budgets, risks, work, programs, backlog, whatever element it is, grounds your story in the organizational direction, and it makes it real and applicable.
The frame for your story could be, you know, your strategy and vision requirements, such as IP and O and New South Wales or the local government act asset plans in Victoria or whatever that legislation is throughout the country. It could be ISO fifty five thousand and how that fits in your organization's direction. Or any other strategy or service document. But the frame, the context, the organizational alignment is the important place to start with telling your story.
Once you know your frame, where you're speaking from, you need to know who you're speaking to, knowing your audience One of the best things about asset management is working across organizations breaking down the silos and connecting the dots between the services and the, you know, little day to day activities.
That means that the organization can deliver its big picture goals.
It also creates challenges though because we work with so many stakeholders that are interested in different things. So knowing the roles and responsibilities of your audience is key.
For me, I always ask the question of what does my audience need to make a decision.
Everyone's responsible for different roles and responsibilities within the management of the assets. What is this group that I'm telling the story to need to make that decision So an example of this that I've, you know, worked through a couple of years ago with an organization that was transitioning from, his story based road when your budgets to asset management based. From the roles and responsibilities perspective as asset managers, we were deemed a support function The service owner directed the Capital Works Program. They were responsible for budget bids. They were responsible for setting levels of service.
They were very competent for the in year delivery, but they struggled to get that traction at the, the strategic level, the big picture in adjusting budgets to, deliver their services effectively.
Our goal is to support them. We phrased it to them as, you know, we're here to make your life easier.
We started by doing our homework from the data, you know, the financial indicators, all that really good detailed asset management stuff that we as practitioners do. And we had a case that we thought the budgets needed increasing, but we wanted to work and build that story with the service manager.
We started having those discussions with them just talking about that experience. You know, tell me about your budgets. Do you have too much budget that you're trying to find work for? Or do you feel like your budgets are always stressed? Far too thin.
When you're allocating works, how do you actually pick where to do the works? And, you know, what are the intervention points? How much cost, how do you allocate different treatments? And we build this discussion up over a series of weeks just to let them have time to think and find it really build the story out in their own mind as we went through that process. When we took it away and we built predictive life cycle modeling, to reflect everything that they had told us and to turn their day to day activities into the strategic overlay that they needed.
We took that data, and we mapped it Pretty simple process, pulling all the outcomes from the predictive modeling, and just assigning it to the spatial asset data that we already had. And we went and we talked with the delivery managers about what that like for them, and if the red lines that we'd put on all the maps for each suborbal locality was realistic.
They pulled out a pen and tick tick tick These are the works that we've done over the last few years since the data was collected and circled a few others. These are the ones that are on our current works program. So for us, that really started to build confidence in what we were doing. But then they started to look at the other roads that were highlighted that they weren't aware and they started to ask some questions.
After we build out the model, we did take some photos. We did some, you know, truth checking to make sure that, and what it was realistic before we talk them. And in some instances, we were able to pull out photos and say, well, this is what we observed on-site. Does that warrant, you know, intervention?
I've done this process with some other people since, and using tools such as Google Maps or the condition photos or something that can also be powerful to pull out in that moment to make sure you're all talking about the same location and, you know, sometimes check obvious defects. You just gotta be a bit careful using those kind of tools with the dates and the resolution that the photos were taken, but it can help build out the story with people who are interested in the detailed level as you go through that.
In this specific example though, you know, we left the maps with the delivery manager, and they some field investigation. And when they came back, the feedback that we got was that the program was pretty good overall. There was a couple of issues here and there. But we work with them to put a improvement program together with further data collection and the like to address those gaps. And at the end of process that had a lot of confidence in the story that we had built with them in terms of what service levels do they wanna deliver? What are the cost and what are the flow and implications in terms of all the resourcing and the like.
So in terms of knowing your audience, we then worked with them to take that to the senior leadership. Now their role is obviously very different. They're more about the strategic leadership balancing competing organizational needs with limited funding. So that's what we spoke to. It was also a different engagement process because we had one presentation to create the story. We didn't get to build it up over, you know, weeks with them. So we used some strategic visualizations, you know, funding service level work bank log graphs that Rory, I'm sure, will speak to very shortly.
The goal was to give that high level insight into what was happening over the ten to fifteen year planning period And we touched base very briefly on the capital works program that we had gone through with the delivery managers who were also presenting with but we avoided the detail because that was not relevant to their roles and responsibilities. We wanted them to have confidence in what we've done and the projections that were coming out. But we didn't want them to get caught up in the detail to miss the big picture.
Coming back to Dave's opening example of the intersection in Melbourne, we brought it back to the context of the city. And what does that impact on the services that are delivered to the city? And what does look like over the next ten to fifteen years from current funding levels as well as the funding that we thought were required.
And just like Dave said, you know, there's so many different asset classes in here. We were talking specifically about roads. There's so many other asset classes that we hadn't even touched on yet. And we set the scene that we were gonna come back and do that, which was something they were particularly keen for.
The way we wrapped out that discussion with the senior leadership was talking out the limitations. You know, the data was a little bit old. There were some gaps. There were some assumptions that we had to make, but we put an improvement plan before them as well. And we were very clear that as we went through this process, some of those projections may start to change a little bit. And that's just as we dial in the specifics of the model to represent reality out there, and we take in or account some of those other factors such as environmental that we hadn't been able to up to that point.
Through that process, we got really good feedback that they had confidence in what we were doing. They increased the budgets. They even changed a bit of the focus in the organization to look more at renewal, unless it new assets through the capital expenditure.
And we were requested continue the process for all the other classes, which to us was a great outcome. That's what we wanted. You know, we started to change the world that organization through the way that we told that story by giving people what they needed to make the right decisions.
So to wrap up my section today, know the frame that you're telling the story from, know your audience and what they need, and give them what they need. To make the decisions relevant to their roles and responsibilities.
Thanks. With that, I'll hand back over to Dave.
Thanks, Michael. That was fantastic. I particularly liked your focus on, starting the conversation about service So the fact that assets exist to provide a service and being able to frame the conversation in that way, I also really like your use of some really simple tools as well. So not everything has to be overly complicated yet.
So as simple as having that map that people can mark up or make comments on, as simple as using occasionally your Google Maps, your images, that sort of stuff just to have that dynamic organic conversation with people and get that engagement. So really, really good stuff. Folks with that in mind, what we're going to do now is we're going to transition to Rory who's going to start to look at some of the more, some of the more detailed, some of the more, I suppose more elements to them. So Michael gave us some really simple tips and tricks up front.
Rory's going to touch now more on some of the, more feature rich visuals that you may wanna think about utilizing in your organization over to you, Roy.
Hi, everyone. Great to have you all with us today.
So let's talk about how can transform your asset data into powerful visualizations and influence your organization.
Telling an asset management story can be seen like a four sided puzzle piece. We start with service levels, what our organization desires to achieve, followed by the cost and risk consequences of achieving or not achieving these service levels. And finally, the backlog works that might be present under any given scenario.
If you tell an AM story and build your visualizations, around these four pieces, you will convey a really powerful message to your stakeholders.
Now, let's view an example of this.
This is a life cycle model of a facilities portfolio, and from the visuals, you start to gauge how the portfolio is behaving under the scenario.
At the top, we can see we have the investment forecast with a relatively uniform treatment cost distribution and a growing maintenance cost distribution as the portfolio ages and degrades.
From our service level analysis, we can gauge really, really quickly how the how the portfolio, is matching up against the organization service levels.
And for the most part, this portfolio is forming quite well with only a small percentage of the network falling below service levels in the later half of the planning period.
This small percentage means there will be a backlog of works associated with that you can see that coming through in the Works Bank backlog forecast.
Now, in our experience, we find quite often that organizations focus quite heavily on the cost, service levels, and and backlog elements.
But but sometimes the risk element isn't, focused on as much. So I wanted to showcase here, in the risk visualization.
We can see that in this scenario, this portfolio actually has a somewhat significant amount of risk associated with it with with thirty percent in a high or extreme risk state.
And that may or may not be acceptable for the organization and and If there was something that needed addressing, the organization could consider, a revised life cycle model that's optimized by the risk metric, and I'll show you that now.
So the risk here has been, consequence of failure ratings have been included in the treatment logic of the model, which produce a more optimized results.
So the key takeaway here is include risk in your, asset management story. It's a really powerful metric, and it speaks to all levels of engagement.
And the other key takeaway is that these some of these visualizations can be quite simple. This is just these are just stacked bar charts and a handful of colors, and you've been able to convey your message.
Now, the previous examples were very much high level visualizations, that you might use for an executive presentation, but like Michael mentioned earlier, there'll be a range of stakeholders that you'll need to engage with, and they will need to make different decisions with different levels of data.
So a great way to provide that data to them, is through asset dashboarding.
Here I've shown a real client example dashboard, And that this client has some some very granular facilities data.
And in the interactive dash board environment, you start to see the benefits of using really granular data.
By using the filters, we can start to slice and dice down to the, facility type level and down to specific locations.
And we find this is a really effective way of engaging with those stakeholders who have a special interest or a special responsibility in these facilities.
They're saying what matters to them.
Although all the slicing and dicing has a lot of benefits, there might be cases where you need to tell a really specific AM story and you don't want all those extra details.
In this case, what you can do is set up a customized dashboard with only the specific information you want to showcase, keeping your audience really focused on the key message.
We've seen that really, really well utilized when presenting to executives or politicians or your board stakeholders, keep them focused on that key message and get your desired outcome.
Digital asset management plans are also an option.
You can keep all your traditional content, like current state of the assets, service levels, improvement plans, etcetera, but have it in an interactive space.
Means that anyone in your organization provided with the link, can can access all the different reports that will be, included in the digital asset management plan can interact with their different visualizations.
And one of the other key benefits is that the, the plan itself can be more easily updated than a static paper based AMP.
And finally, for your horizontal assets, like your road and your rail corridors, and I've also shown some more facets here.
Spatial integration can be a really handy engagement tool, particularly for your work teams who are really familiar with the the network. If the dashboard shows what they're seeing in the field, that's gonna help build up a lot of confidence in the result.
So I'll pass you back to David Now. Thank you, everyone.
Thanks, Rory. That was some fantastic insight into the way in which you can use in particular digital dashboards and visualizations with that really, it's it's amazing how compelling something as simple as, dark green or dark red bad can within a visualization, yeah, whether that's spatially, whether that's in those stacked histograms.
But also, I think one of the things that I enjoyed most about what you were just showing, Rory, was around that ability to use digital dashboards to answer multiple questions from multiple different stakeholders. So that slice and dice type capability, that multiple filtering capability that you're talking about, that that someone can ultimately look at it just up at the portfolio level or any level in between all the way down to an individual asset. So as a stakeholder, I'm not trying to tease that out of a static table or out of some narrative in an asset management plan. I can literally drill down to exactly the thing that I'm interested in. And giving people that ability in my experience is a really powerful way getting their engagement, getting their buy in because they can see and interact with what matters to them personally So thanks for that, Rory. That was fantastic.
And folks, with that, with that in mind in terms of using spatial potentially as an integration tool, this is a nice little segue into that Works Packaging, feature that I that I discussed upfront in the intro. I'm going to hand over to Jack now who's going to talk about what the world can look like when you're actually genuinely collaborating across silos, when you're breaking down those silos from a works packaging perspective over to you, Jack?
Thanks, David. And, thanks, Troy. Really good conversation around how utilization and visuals can enhance communication.
And, of course, communicating with internal shareholders is not where it ends, but software tools and visuals can also break down salaries between different departments or even different organizations, which is what I'm about to step you through today. How to use software for better collaboration during work packaging?
So let me start with a question.
What's the typical work planning process, like, on a regular day? And I'm going to answer that myself.
So first off, we start with asset data, which then fits into predictive modeling, The predictive models we generate an initial work candidate list.
We then use Excel or potentially other systems to carry out some manual work packaging process, which is then finalized as the work program.
So it's pretty standard stuff. Right?
But what can go wrong though?
Well, chances, we are not the only ones doing this. Different departments on different asset classes or maybe different organizations, probably doing the same thing too.
So power companies, water companies, MPN, local governments, etcetera.
They could be running the assets in the same area. And each coming up with their own works program, but without necessarily having too much interaction with each other, which is why things like this can happen.
Freshly run rate riots get dug up by another organization, just to get access to the underground assets.
This is a good example that shows how lack of communication during the work planning stage can not only cause waste of money and time, but also cause unnecessary community sorry, community disruption and potentially even worse reputational damage.
So that got me thinking.
How do we empower people to do better? How do we you know, break down the silos and enhance the work packaging pro process.
So what if Instead of everyone figuring out their own work plans in their little bubble, what if everyone just share a centralized work packaging platform where everyone can just effortlessly share information with each other.
Sounds like a really good idea on paper, right?
So now I guess the next question would be, what kind of platform would that be? What kind of features do we need to address all those issues?
Well, the good news is I think we have figured out some answers for you.
We need a platform where every asset owner can keep their works program information.
Regardless of asset class or industry, all the forecast state or plan capital works should be imported seamlessly.
The system should allow easy access to clean information such as four work candidates for post year, cost of projects, funding source, etcetera.
Projects and faces should be easily created based on the range of criteria for web packaging.
And once created, the system should allow project phases to be shifted in a more intuitive way than traditional spreadsheets such as bar drag and drop.
Look at that. In addition to that, We need a platform that ensures transparency and also empower efficient communication.
The system should allow all shareholders to access key information, which includes who is the asset owner, the planned date of the project, status of the project, priority rating, just to announce a few. And whenever updates occur, all the asset owners can see the changes in real time and make adjustments if needed.
And on top of that, we need a platform with GIS capability that can show projects all of all different asset classes for effective clash detection.
In this example, projects, buildings, pathways, roads and stormwater drains are all displayed on the same map.
Capital works in the same area can be bundled together to minimize community disruption and potentially reduce travel costs. And this can be done by just simply selecting on the map.
And, of course, any clash such as underground assets requiring access after road resurfacing can be easily identified in advance and avoided.
So, yeah, that is all for my part. Thanks, everyone. Back to you, David.
Awesome. Thanks for that, Jack. That was a really, really great overview, I suppose, of the kind of things that ultimately make collaboration on work packaging that much easier. And I think we all know that the level of opportunity in project efficiency savings, and in particular, that detection that avoidance of projects not being well coordinated or well sequenced.
There are huge opportunities there for for all of us to get better in in that area. So thanks for stepping us through that, Jack. Really appreciate it. And ultimately, what we're going to do with the panel part of the discussion now is just allow Renuka to kind of wrap up some of these key elements into some key takeaways around how you can unlock those opportunities.
And once we've been through that section, we'll open it up for the q and a. So I've seen there's some awesome questions coming into the q and a. So folks, use this last opportunity while we're transitioning to that point to drop any additional comments, discussion points, anything you'd like to cover in that Q and A section with us in a few minutes. Over to you, Renee.
Thank you, David. And thanks, all the presenters for providing us with some excellent, information.
So throughout we heard that how storytelling can be very effective in engaging with the external and internal stakeholders.
And also how we can leverage visualization platform to do it more effectively.
So I thought it would be good to talk about, some common misconceptions, challenges, and how we can, or how organizations can use visualization platforms to address these issues and They provide a huge opportunity for every organization.
And one thing I have experience in talk into, some of the professionals in asset management industry is, the the storytelling oversimplifies and, present a very simple, nature of the problems that these professionals trying to solve.
So that's where I actually we need to think about how you tell your story, which visualization techniques to used to tell the story.
So Michael mentioned, like, whether you are talking to the leadership of whether you are talking to, the, asset management teams to gather information to develop it management plan or predictive life cycle too. It's a two different ways of using those storytelling method and using the visualizations to affect.
And so that's why it's the having that frame. And then the method of using tech which technique to use is really important.
And so We know there's the impact of storytelling, but other thing I want to talk more about is what the internally the organization can gain from using these visualization platforms.
We are in the edge of big data.
Organization keep getting thousands and millions of data, and it might be every day every week.
And let's take an example of using, CCTV cameras to inspect store bought assets.
So there's a defect record might be defect recorded in every few meters. And when you have thousands and thousands of storm motor pipes, and the data can adapt to thousands and billions of data points that can simply overwhelm you.
But what if we can aggregate this data up to pipe level to give pipe level pipe level aggregated information.
So that's there and think how you can use this inform the aggregated information to check. Okay. Where are the pro where I'll do the to focus on? Are the can we identify any trends?
Are there any areas that our pipes are degrading more rapidly than the other areas? And if when we overlay that with a special layer, so we can say, oh, maybe the soil type.
Might be a problem or the pipe material might be the problem. So you can use visualization platforms to identify trends, patterns, as well as data anomalies.
And Jack talked about the actually the whole process of, from assets to developing capital works program. But if we look at the fundamental to managing assets is it's knowing knowing about your assets. So actually visualizing your assets on a, especially, on a map, give you information, though, quickly, I believe that people can connect with that. So they know that's the street I drove yesterday, and I know there are patrols.
So I need to do something. And so that's become very powerful and then educating data from bottom up to asset level to organization level. And then if we think about from service planning perspective, simply unpacking the organization objectives of service planning to the asset level. So both bottom up approach and the top down approach can be used in visualizations effectively with the slice and enticing capability.
And so the we talk and that would lead into the capital works program. We are Jack talked about where you can gain maximize the, efficiencies.
So I'm not going to talk about that, but it's a very important tool that we can use you say to you can use using visualization platform.
Okay. Now One of the most important things in this age is the asset intelligence organization use number of the key asset management documents, which are the assets policies, strategy, asset management management plans.
And if we talk about the asset management plans and if I ask you most of you are here, So you would say every four years, some of us go and do a right asset management plan. And once the books say stick, and it get approved, it'll go into the shelf and never to open again. Because normally the traditional way of doing this is in a word document, or a PDF. Yeah. That's how you manage it.
So, by in this age of digital.
So we, you, we don't move into digital well. Why don't we leverage visualization platform for, to have the interactive, and accessible interactive document that can be used throughout everyone throughout the organization by everyone.
And experience has tell tell us experience tell us like organizations through or few organizations who have moved to digital asset management plans.
It's been taken up the throughout the organization very widely. And it's being used day to day because it's easily accessible. People can go and whenever they want to find information, go click on asset, find the information or do the slicing functionalities available in realization platforms.
So and then if you if it's a if you have an age in number of asset class, a templated approach would actually allow you to update data regularly without having to wait until four years to update the document.
Okay. If I go on to more, is, one of the, concerns that was racist.
This digital asset management plans or asset plans are too innovative and stakeholders can become easily confused.
So but The things we have to realize is the world is moving towards the digital world. So that and people going to catch up. And one of the other things I want to touch is actually one concern is the because it's visual people can visually opt. Takeholders can visually see the process visually see their maps.
Usually, they can see if we put it in the right way where they are going to spend the next, next year's budget. So the decision making process an organization can be scrutinized very easily. So the question is are organizations ready for that? So people will, oh, community will question their data accuracy.
But what we have to say is It's a transparency is the key to good governance. It's something we have to do and then everyone will be more conscious when they make decisions.
And the lastly, it's the when we want to address the staff skills knowledge and staff turnover. How can we overcome that issue? And it's by again having a templated where you can just update data. And also there are number of service, like a service approach where you can have that won't impact, like staff turnover will not impact how you do your, day to day stuff using digital technology. So to wrap up, it present because it's an innovative way, it presents its challenges, but There's a huge opportunity for organization to leverage that, digital plan forms for the benefit of the organizations.
Thanks, Renu. That was a fantastic summary and some great suggestions there. And I think, you know, we can all agree that digitalization is the future. Yeah. So, ultimately, the sooner we can move our organizations towards that, the more active will be overall both within our organization and in how we engage. So look, there's been some fantastic, range of questions, coming into the into the Q and A. So we'll start straight into those.
And there are quite a few here folks. So we'll try and get through them as quickly as we can. If for some reason we don't get to your question or comment, please know that we'll reach out after the session for a discussion anyway, but let's have a go at answering as many as we possibly can. So firstly, Rory, this is one for you, a relatively simple one start with, how was the risk calculated? So in the risk profile analysis that you were showing us, how was that risk actually calculated?
Yeah. Thanks, David. In that particular risk analysis, yeah, so there was a the consequence of, of, of failure ratings associated with those specific assets, that were loaded into the life cycle model, and then the likelihood of failure rating in that case was, being a facilities portfolio that was, equated to the the condition of the portfolio. So, yes, there is the condition ages and and the grades, the likelihood of failure would increase, and then, the risk itself is, is, calculated by a likelihood of failure multiplied by, consequence of failure, and, and that's where those colors and risk distribution comes from.
Cool. And, and I'll just add to that folks, the the whole concept of the risk analysis there is, based on a typical risk framework. And ultimately, you have your the ability to modify that risk framework in terms of your risk matrix, your COF ratings, and how they relate to specific risk labels. So while the type of analytical outcomes will be comparable. Ultimately, you can customize it to meet your own needs.
So just while we've got you there, Rory, just an the quick one, the example of the digital asset management plan that was shown, what platform was that developed in?
So that platform was, yeah, developed through, yeah, MPBI, and platform.
That's that's how it was developed.
Mhmm. And if we just quickly go to that slide, because we've also got a question. So I can I can grab that one? I think might, but we've also got a question around whether or not that could effectively be, built into a website. Yeah. So this is essentially slide where you were showing the landing page and the different elements. Basically, it's a traditional asset management plan but digitalized.
So we did have a question around whether or not that could be embedded on a website. So as Rory mentioned, that example is using power bi generating PowerBI report, and those can definitely be embedded within your own website. And just one of the quick things that I might touch on there as well is there are, items that can be addressed in the design of the report that help address accessibility requirements as well. So I know that a number of our clients are interested in that they like the concept of making their digital asset management plans available on their website, but they also wanna make sure that the design of those dashboards are as accessible as possible, so meeting those different requirements around accessibility. So something to be aware of folks if you're considering doing the same thing.
Alrighty. One of the other questions we've got here, this is this is an excellent question. So, basically, it's raising the point around often the main issue you might be a heavy reliance on the just the condition of the asset and the capital replacement output And ultimately that the tools may not ult may not genuinely translate customer expectations, service risk management, not just asset risk. So it's really about how do you broaden your analytical criteria to to properly data services. So it really goes right back to what Michael set up front, that services is where you should start discussion and assets exist to provide those services.
This is a really, excuse me, a really important question. And to be honest, there are multiple layers to it.
But what I might do is just briefly touch on fact that even though you might have often seen just condition used or maybe only capital values being reported, the reality is in a lot of the data boards that we do and a lot of the underlying modeling and asset management planning that we do, there are actually a whole range of other performance parameters included So that's not to say there aren't still organizations out there that are very asset centric haven't really made that connection with service plans don't really have other performance parameters in there. There are definitely still organizations at that, you know, in that kind of circumstance.
I must say that in our experience, we do work with a lot of clients and also encourage all of our clients to bring all of those different asset performance parameters into the life cycle analysis, also including your whole of life costs, so bringing in your maintenance cost calibration, your operational costs. And for anyone that might have had the opportunity to join one of our earlier webinars when myself and Sally from e two design took you through the Sydney Olympic Park case study, that was a great example where we were able to introduce a whole range of environmental and other community values into the actual modeling and into the actual outputs.
So, again, not so much asset centric, but focused more on those services and those particular values to the community, not just physical condition. So, the person who asked that question, if you'd like to have a a bit more of a yarn about that, certainly happy for you to reach out and we can go through some of those things in more detail, but definitely can shift it away from being that old school condition asset centric type modeling and outputs.
Alrighty. What else do we have in the list here? So, Yeah. So there's a question around, obviously, the digital AMPs being a great way to quickly drill down and present information to a broad range of audiences. And the question's basically asking whether or not the content of the dashboard can be converted to a static static snapshot in the document facilitate annual reporting ISO fifty five thousand and one document control within the asset management system. So, Rory, did you wanna touch on that one?
Yeah. Sure, David. Yeah. Yeah. The the the the the the reports that self, like, the particular ones here in the visualizations, they are very customizable when there's a lot of flexibility in how you can them up based on your specific needs. So if you foresee a need where you're going to need to take more of those static screenshots for some of your reporting, there'd be the ability to set these reports up with export features, so that you can can easily take that information put into a more suitable format for some of those traditional reporting, channels that you're still working within.
And just to add to that, because I think it may also be part of the thrust of the question. But the reality is in terms of your digital digital dashboards, they do give the opportunity to ultimately determine essentially your refresh rate of those as well. So in certain circumstances, you may want those to be more near real time relatively frequently updated. It depends what data they're consuming and how often that would change.
But they can also be point in time representations that may, for instance, be a published dashboard. It's still highly interactive in terms of all of the content, but it may represent a particular point in time. So as that, for instance, you know, the end of financial year twenty three. And then you might choose to refresh that just once a year or once every few years depending upon the frequency of update required.
So they can definitely customized, to meet those requirements and used in whatever way. So all the way back to Michael's opening points around knowing the the audience, knowing the information that's required to make the decisions, basically knowing what you need to present. That kinda key to deciding how best to structure the refresh and the regularity of those dashboard updates?
We've also got a question, and this might be one for yourself Renee. A question around the, you know, with the different software packages, you know, they might often be well suited to things like roads, storm waters, and buildings. But what about for things like playgrounds, structures, you know, playgrounds are built to very specific Australian standards. There are statutory compliance requirements for them. How well Can the various software packages meet those kind of requirements so not just the traditional or the typical, you know, roads buildings and stormwater?
Sorry. Let me clarify. I think it's the question is, like, also, like, in the present in the visualization platform.
You think, currently, though? It's it's more more to do with the software. Basically the software covering. So, you know, the way I would see this question is it's really about things like the underlying asset management system, potentially your predictive life cycle modeling, you know, how well do the software packages cater for a broad range of assets with very specific requirements?
Yeah. I think it's all depend on how you build the model. Like if you specifically talk about like the predictive modeling tool that we use. You know, there are many ways to actually use that.
If we want to tailor it to, specific requirement to, to cater for, the playgrounds, etcetera, with all the Australian standard requirements, for example, disability access or compliance, especially with regards to playground. Yeah. We can take those into account in building the models. And I think now most, softwares, like even if they are off the shelf, we have we connect.
We have fields that you can, record this information and that you can draw to. From asset register to, predict remotely.
I hope that answers your question. Yeah. Yeah. Think so. I think so, Renu. And, ultimately, what it boils down to is certainly from a brightly software perspective.
Obviously, you know, don't wanna speak for for other vendors. But, yeah, certainly our enterprise asset management solution and the predictive modeling, the predictor software that Renuka was just talking about, those both of those definitely cater for the full breadth and depth of assets. So certainly not limited a, to a very small, cohort.
Just while we're on the topic of, software itself, there are some questions in here as well around the items that you were showcasing Jacks. So, whether or not the packaging solution is available, through predictor or a separate product, there's also a question around the GIS integration as an add on for for predictor platform.
So just for any folks that are interested in those kind elements. Essentially, the kind of features and functionality that Jack was showing is out of our work planner product and that is essentially an optional module of predictor. So it's part of the predictor platform, but it's an optional module, you can have predictor with or without that. So definitely something that's available if you were interested in it and can see value in it.
There's also a question around, and I might just quickly take this one in the interest of time. So when we were going through, when Rory was taking us through the visualization slides, there's a question around the ability to display, ASR and ACR financial ratios over a time period. So the simple answer to that question is essentially any ratios financial or otherwise, any performance indicators, financial ratios, whatever is important to you as an organization, can be generated in the outputs and ultimately displayed through whichever visualization you're using. So that's one of the power, one of the powerful elements of digitalizing those things is the ability to customize them to meet your specific organizational or unit needs.
So we're getting through them reasonably. Well, we've still got a few more with a couple of minutes up our sleeve see if we can't knock off a couple more.
There's so a lot of chat around the digital AMP there's a question here around whether or not templates are available. So, essentially, we start with most of our custom, power BI that we've generated, and we've been doing this over quite a number of years now. There are usually some standard, starting points that we would use. So a starting template that can make it really simple and effective. But again, there's also the to customize beyond that, if need be. But definitely, that templated kind of approach that Renuka referred to earlier is where we like to start.
There's also, again, on the theme of digital AMPs, the question around using them for external view. So, making those digital AMPs and digital plans available to the public. So, yes, there are definitely, certainly in local government but also in other sectors, there's there is or there are, I should say, clients that are making those plans available through their website. So publicly available so that the, their community or their customers can engage with it.
So, question or a comment here around if we're not preparing the old school traditional, you know, writing asset management plans, will relying on visualization platforms only cause problems as different people will interpret differently. That's a really excellent question and an excellent point.
One of the things that we find with using, digital AMPs and digital dashboards is that you can be really simple and clean and very specific in your content. So ultimately addressing that question comes down to how you customize that plan in the first place. But certainly in my experience, if anything, it can actually take some of the noise out of a more traditional asset management plan and make it easier to engage with.
Now folks, I haven't quite gotten to all of your questions. We have come really, really close to that, but I'm mindful that, we're right on time. So with that, for anyone whose question we didn't get to, we will reach out you and respond directly. And, beyond today, as I mentioned earlier, if anyone does wanna reach out and have a conversation with us or request a demo for anything, please use the buttons that are on the screen at the moment or access us through the website.
What I wanna do is I wanna really thank you for your time again today. It's been an absolute pleasure to spend this time with you. And as this is the last in our webinar series for calendar year, I did wanna flag that as we move into the new year, keep your eye out for an email for our next series and all of the exciting things that'll be coming with that. And what I also wanna do is basically wish all of you, yourselves, your friends, your family, wish all of you are very happy a safe and enjoyable festive season, and we look forward to you joining us again in the new year.
Take care folks. We'll see you again next time.