SAAMA awards to measure physical asset management

SAAMA awards to measure physical asset management

The South African Asset Management Association (SAAMA) invites companies across all industries to participate in the annual Physical Asset Management Awards competition. Winners will be announced during the SAAMA Conference in May 2015.

Anton Booyzen, President of SAAMA, said, “SAAMA’s aim is to elevate the professional status and standard of physical asset management in Southern Africa. We’ll be promoting asset management as a key contributor to long-term business success through various initiatives.”

Initiatives include contributing to the continued development of standards and practices as well as establishing, maintaining and improving common standards.  Further initiatives include encouraging the exchange of information, ideas and knowledge, stimulating and promoting education, training and original research as well as building synergistic rapport between companies and industries. Lastly, SAAMA will be creating liaison with similar associations locally and internationally and offer discounted rates for SAAMA members at the annual SAAMA Asset Management Conference.

Booyzen adds that to ensure that the SAAMA Awards are globally acknowledged and participants receive global recognition, the GFMAM 39 Subjects will be used as a framework to measure participants’ asset management maturity.

“Asset intensive companies with an active asset management programme as well as asset managers with an interest in benchmarking their asset management programme against an international framework should participate. Asset owners in pursuit of ISO 55000 certification should also enter, as should asset owners who want to get their asset risk, perormance and cost in balance,” continues Booyzen.

“The benefits of participating include knowledge of your asset management status measured against the 39 Subjects, recognition from SAAMA and GFMAM and associated asset management bodies, as well as public acknowledgement from your stakeholders and clients. Furthermore, you’ll get peace of mind for your investors and insurance partners that their physical asset investment has risk, performance and cost in balance. Participation also lays the foundation for ISO 55000 certification and compliance with regulations and statutory requirements can be identified.”

There will be four awards categories including Overall Winner, Gold Award, Silver Awards and Bronze Awards.

 Booyzen said “Companies can register a single plant or site for the awards. Upon registration, an initial quote will be prepared for approval before an appointment is made for the formal assessment. The size of the plant, number of assets and team involved will determine the amount of days required for the assessor to do the assessment. On approval of the cost, the assessor will conduct an on-site assessment and develop a high level report from the results. The top five performing companies will receive a second visit from an independent assessor to determine the single top performer from the group.” 

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