In this new edition of the virtual event created by the Association of Asset Management Professionals (AMP), representatives from its chapters gave brilliant presentations on the impact of a culture of reliability, the value of data management, and digitization as a factor for change. Hundreds of professionals from around the world attended this summit, which was marked by a high level of expertise.
The Global Asset Management SUMMIT 2025 revealed the importance of continuing to debate, share, and create knowledge to advance asset management. Organized by the Association of Asset Management Professionals (AMP), the event brought together hundreds of professionals from around the world, with Terrence O’Hanlon, Executive Director of AMP, and Maura Abad, Global Director of Women in Reliability and Asset Management (WIRAM), as hosts. AMP Chapter members gave brilliant presentations focused on the advancement of the industry.
“I have been working in asset management for a long time, and this summit is a testament to how far and deep our message has reached. Our powerful approaches to engineering, reliability, and asset management are now being combined with data, powered by Artificial Intelligence, and this is fantastic,” said Terrence O’Hanlon at the start of the summit.
A conversation among successful leaders
Maura Abad described this meeting as “a conversation between successful leaders and success stories,” where topics related to leadership, asset management, and digitization, among others, were addressed.
Javier Mascheroni: Performance Indicators – The power of performance
Javier Mascheroni, MBA CMRP CRL, explored the relationship between Performance Indicators and Management, demonstrating that the type of KPIs chosen will enable the building of a solid culture of reliability. Key points of his presentation:
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- Culture is the sum of our behaviors and the way we think about our company.
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- Culture is a practical matter.
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- A culture of reliability means anticipating failures, and KPIs related to reliability (such as time between failures, for example) are the most important ones to consider.
Marcia O’Connor: “Beyond the Silos. Asset insights for Digital Transformation”
Marcia is an expert in Facility Management, AMP Canada Chapter Leader, and President and Founder of AM FM Consulting Group Inc. In her presentation, she addressed crucial points such as the digitization of Asset Management and Facility Management, data quality, and how to break down information silos. Marcia explained that:
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- 68% of facility management costs are due to poor data interoperability
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- Both AM and FM often operate in information and data silos.
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- The integration of information, data, and resources improves decision-making and capital planning.
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- Proper data management reduces maintenance, increases regulatory compliance, and improves stakeholder relationships.
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- Data must be of good quality for digitization to be successful.
Alejandro Luna: A success story in installing large equipment
On behalf of the Colombia AMP Chapter, Alejandro Luna presented a success story regarding the assembly and precision alignment of large equipment. Luna is Engineering Manager at Goodyear in Colombia, with a solid background in maintenance. “We aligned very heavy equipment using laser alignment. We had 12-ton and 27-ton equipment, and we had to reduce the alignment or tolerance to around 0.3 millimeters. We did it in 8 hours, saving 83% of the alignment time” Luna explained.
The secret to this success was:
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- Not setting limits when looking for solutions, thinking outside the box
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- Working directly with brand manufacturers
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- Planning work correctly.
Luis Tillería: Inventory management in the Asset Lifecycle
Luis Alberto Tillería, MSc, CMRP, is a member of the AMP Ecuador Chapter, and he spoke on a crucial topic: inventory. Inventory problems are very common, and the consequences are serious: for example, the lack of a $50 spare part caused a shutdown and losses of $100,000. According to Tillerías, it is important to:
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- Have an adequate methodology for maintenance and repair of spare parts, as explained in the Uptime® Elements Framework, which is key within the Asset Lifecycle.
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- MRO must be profitable in order to reduce production costs and achieve good results.
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- It requires a methodology for optimizing and reducing costs and risks.
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- CAPEX, OPEX, and Obsolescence Guides are essential tools in MRO.
Paul Shoesmith: the importance of Data Management
Paul Shoesmith, a member of the AMP Chapter Texas who works for John Crane, developed the topic “Governing Data to Deliver Increased Asset Value”, highlighting the importance of data management, on which all maintenance, reliability, and asset management decisions are based. For Shoesmith:
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- Poor data quality (incomplete, duplicate, or hidden) can have serious consequences for asset management.
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- Despite automation and AI, human validation is necessary.
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- Having good data depends on people and culture
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- Quality data and good governance translate into savings, investment protection, and better procurement cycles.
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- AI and machine learning will be able to automatically classify parts and enrich data
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- The IoT dramatically increases the volume of available data; good governance is essential
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- Cloud platforms help break down data silos
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- Reliable operations depend on reliable data
Scott Smith: Bridging the “Maintenance and Engineering” Gap
Scott Smith concluded this forum with a presentation on the relationship between maintenance and engineering. Speaking a common language among the parties involved in a project is key to success, and that common language is provided by the Uptime® Elements framework and Certified Reliability® Leader certification. Smith is CRL certified, is the Reliability & Asset Management Manager at Skookum, and has a solid professional background. The highlights of his presentation are summarized below:
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- In successful projects, engineers and maintenance managers solve problems together
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- Having Certified Reliability® Leaders facilitates projects and the relationship between engineering and maintenance
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- CRLs and the use of the Uptime® Elements framework lead to a much higher success rate
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- CRLs speak the same language, which has an impact on the quality and speed of work
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- Digitizing information makes it available to technicians directly on their iPads, facilitating maintenance tasks, work plans, and inspections
During the question-and-answer session at the end of the presentations, there was an interesting exchange of opinions and approaches between the speakers and forum attendees, highlighting the true value of these events: the creation of knowledge and learning as a group to strengthen asset management and leadership in as many organizations and industrial and business spaces as possible. The event ended with words of thanks from Terrence O’Hanlon to the participants and attendees for their contributions, and with an invitation from Maura Abad to participate in the next WIRAM Global Summit 2025.
