Gladstone Area Water Board

Asset Lifecycle Management

TechnologyOne Asset Management has enabled GAWB to gain better visibility into asset usage, improve asset governance and manage asset lifecycles.

“Previously we were running multiple software systems, independent to asset management, and were trying to have these complement each other,” Mr Tumbers said.

“By introducing an asset lifecycle management solution we have improved the timeliness and accuracy of our asset data while streamlining our asset management, compliance and reporting processes.

“All of our maintenance strategies, tactics and lifecycle plans are now connected and we are able to produce forecasts in the software.

“We trust that this sole source of truth and our ISO certification will make our next price investigation with the regulator a much more streamlined process.”

Achieving ISO 55001 certification

ISO 55001 is an international standard for managing physical assets that promotes an integrated approach to asset management. The approach focuses on integrating financial, logistical, operational and human resource business functions to optimise performance and minimise the cost of ownership throughout the lifecycle of the asset.

GAWB was seeking to gain ISO 55001 certification, utilising TechnologyOne’s enterprise software solution to help achieve this.

“TechnologyOne’s Asset Lifecycle Management solution has transformed the way in which we manage our assets,” Mr Tumbers said.

“We now have a comprehensive view of the costs and resources involved in keeping our assets running, so we can measure how they are performing, predict when they should be replaced and understand how much they’ll cost to maintain.

“Adopting this integrated approach has enabled us to align with best practice standards and gain ISO 55001 certification, meaning we are operating more efficiently and making well-informed, strategic decisions about our assets which is key to our long-term planning and financial sustainability.”