KNOWLEDGE & INSIGHTS
Minconsult Power Talk Series
Title : “Asset Management” A Potential New Area of Business & Engineering Consultancy Applicable To All Utilities and Asset Based Organizations
Presented by :Ir. Ts. Hj Mohamed Haniffa
Date : 31st May 2023
Minconsult’s Power Talk on “Asset Management” was held virtually on May 31st, with over 200 attendees participating via Teams.
Ir. Ts. Hj Mohamed Haniffa, our Senior Advisor of Technology delivered a presentation on Asset Management, covering the potential new area of business and engineering consultancy that are applicable to all utilities and asset-based organizations.
Overview of Presentation
The paper aims to:
- Explain the principles and importance of Asset Management — how it integrates organisational strategy, investment decisions, and operational management to achieve long-term, sustainable outcomes.
- Demonstrate how Asset Management aligns with international standards (PAS 55 and ISO 55000/55001) for optimal whole-life management of physical assets.
- Showcase the benefits of adopting structured AM systems, including improved service delivery, reduced costs, enhanced transparency, risk reduction, and better resource utilisation.
- Promote Asset Management as a consultancy opportunity for engineering organisations to support clients — particularly utilities, infrastructure, and asset-based entities — in transitioning to data-driven, performance-based, and sustainable asset management practices.
- Highlight implementation frameworks such as life-cycle planning, AM audits, risk-based management, and the roadmap towards ISO 55001 certification.
