The Human Dimension of Asset Management

Abstract

Utilities around the world use Asset Management Plans (AMPs) in some form, as a key tool to direct, operate and manage their assets over time. This paper will examine the degree to which human asset planning and management is aligned with, or incorporated in AMP’s, with specific reference to practices in New Zealand. In particular, it will examine and report on: 1. The nature of New Zealand and its utilities as a useful model for analysis, being a compact First World country with a diverse population and steadily changing demographic. 2. WEL Networks as an integrated distribution network company that employs all the human assets required to plan, operate and maintain its assets. 3. The need for incorporating human asset planning into the AMP. 4. The components and variables of human asset planning and plans. 5. The role of institutional knowledge and intellectual property in sustaining performance. 6. Some methodologies developed for analysing dimensions of human asset planning, such as: a. demand forecasting b. demographic status and analysis of their impacts c. competence assessment and d. identification of development potential. 7. Some methodologies for optimising human assets: a. Creating an employer brand and employee value proposition b. Longer-term development strategies c. Employee engagement and motivation for performance. The paper will conclude with some key success factors and practices for adding value to Asset Management Plans by incorporating Human Asset Planning as an integrated component of Asset Management.