By Accommodation Times Bureau
A seminar on “Managing Physical Assets” will be held on October 12th,
2017 at Vivanta by Taj President, Mumbai. To be hosted jointly by
Consulting Engineers Association of India (CEAI), the apex body of
consulting engineers in India, and the Institute of Asset Management
(IAM), United Kingdom, the international professional body for those
involved in the acquisition, operation and care of physical assets –
especially critical infrastructure.
The seminar will focus on the importance and relevance of physical asset
management be it public or private buildings, hospitals, education centres,
hotels, roads & highways, drainage, railways, ports & harbors, shipping,
aviation, water and sanitation, flood protection, space research, defence,
chemical & industrial plants, power generation and transmission, oil & gas,
telecommunication, irrigation, etc. These assets which include the fixed as
well as the movable assets such as plant & equipment are vital for the socio-
economic development of any nation.
This Seminar is a timely response to the demand for dissemination of recent
initiatives intended to streamline asset management and to bring the Indian
market in line with global best practices.
Those best practices are defined by International Standards Organization
(ISO) which has introduced ISO 55000 family of standards to give guidance
on asset management best practice suitable for integrating with other major
management systems. These include ISO 9001 for quality management,
ISO 14001 for environment management, OHSAS 18000 for occupational
health and safety and ISO 31000 for risk management.
The ISO 55000 family is the first management system standards to
implement the new ISO Annex SL providing a consistent basis for all other
systems and enabling better integration and coordinated monitoring, audit
and certification. This was a collaborative effort of 36 countries which
The National Building Code on India 2016 brought out by the Bureau of
Indian Standards has a chapter on Asset Management and hence the
authorities and bodies which adopt it would need to abide by the
Assets and their realizable values are the primary yardsticks which are used
by analysts and stakeholders to assess the viability and performance of
companies. It is efficient and practical asset management that maximizes
value for money and ensures consistent excellence. The process involves
the coordinated and optimized planning, asset selection, acquisition/
development, utilization, care, maintenance and ultimate disposal or
renewal of the appropriate assets and asset management.
Building an asset and maintaining that so that it can continue to remain fit
for the purpose intended in a safe manner for its design life are two different
scenarios. This exercise involves a range of essential business processes,
alignment activities and system integration features that yield significant
performance benefits. It includes the management of the entire lifecycle—
including design, construction, commissioning, operating, maintaining,
repairing, modifying, replacing and decommissioning/ disposal—of
physical and infrastructure assets. Operation and maintenance of assets in a
constrained budget environment require a prioritization scheme. Risk
analysis is a part of the process.
Asset Management can be equally applicable to existing assets and begins
by undertaking a condition status survey and then deciding on the course of
The key speakers for the Seminar are:
? Mr. David McKeown, CEO, Institute of Asset Management (IAM).
? Dr. Navil Shetty who works for Atkins Limited in the UK as a Fellow
and Technical Chair for Asset Management.
? Mr. V Suresh, President Good Governance India Foundation, Vice
Chairman National Building Code of India, Former CMD HUDCO
? Dr. Manoj Singh, Special Adviser Ministry of Railways, Former Special
Adviser, Niti Aayog, Infrastructure and Transport.
? Ms. Holley Chant, Executive Director, Corporate Sustainability, KEO
International Consultants, UAE.
? Dr. Barun Chakrabarti, General Manager –Asset Management,
Engineering Services, L&T Hydrocarbon Engineering Limited.
? Mr. Pravin R Shahu, Vice President, Tata Consulting Engineers
The Seminar will be a thought provoking initiative which would focus on
the innovative provisions of ISO 55000 as well as measures that would be
needed to bring India at the forefront of best practices in Asset
Consulting Engineers Association of India (CEAI) is the apex body of
consulting engineers in India. CEAI represents the Indian Engineering
Consultancy profession at the International Federation of Consulting
Engineers (FIDIC). By virtue of amalgamation of the two erstwhile
professional bodies of consulting engineers, Association of Consulting
Engineers (ACE) and National Association of Consulting Engineers
(NACE) into CEAI in the year 1996, CEAI has, behind it, over 50 years of
accumulated knowledge and experience. CEAI Membership comprises of
practicing consultants, private and public sector firms engaged in the entire
range of engineering consultancy services. The CEAI-Western Region
Centre has organized this seminar. The Core Committee of the Western
Region keeps in touch, communicates and meets at frequent intervals to
plan and hold seminars and workshops on Contracts, Risks, Technical
topics as required by the consulting engineering fraternity for the benefit of
About the Institute of Asset Management (IAM)
The Institute of Asset Management (IAM), headquartered in London, is the
international professional body for those involved in the acquisition,
operation and care of physical assets – especially critical infrastructure. In
particular, the Institute is for professionals worldwide who are dedicated to
furthering their knowledge and understanding of Asset Management. It has
Chapters in Belgium, Canada, Netherlands, UK and USA – and others
currently forming in several other countries.
IAM is a not-for-profit organisation and independent of commercial and
trade associations. It gathers, collates and presents existing knowledge as
well as creating new knowledge and best practice guidance for use by
organisations and individuals involved in asset management.