Physical Asset Management

Field of Research: Physical Asset Management

Lecturer: Dr Wyhan Jooste

The Asset Care Research Group (ACRG) provides an opportunity for prospective postgraduates to specialise in physical asset management (AM) by studying for a Masters (or Doctoral) degree in Engineering Management or Industrial Engineering.
AM is about the systematic and coordinated activities through which organisations optimally and sustainably manage their assets over their respective life cycles. AM is not only about doing things to assets, but more so about extracting value from the assets to achieve the organisation’s business objectives. AM is therefore multifaceted considering the strategic, tactical and operational aspects of an organisation’s portfolio of assets. AM has become considerably important in the modern economy. Higher performance demands are placed on physical assets, such as equipment and infrastructure, while there are business and regulatory pressures to lower costs, risks and operate assets in a health conscious, safe, environmentally and socially sustainable manner. To support industry in managing physical assets these challenges have led to the release of the ISO 55000 suite of standards and its predecessor PAS 55. Criticism of both these standards is that they provide guidance about “what” to do, but not about “how” to execute the guidelines. Therefore, there is a need to pioneer methods, processes and technology applications to support AM activities horizontally across organisational activities and to support management vertically throughout the organisational hierarchy.

The ACRG was founded in 2011. Since its inception the ACRG has established itself as a premium research destination for postgraduate AM thought leadership with a comprehensive portfolio of research outputs and activities. The MEng and PhD programmes with specialisation in Physical Asset Management are specifically aimed at thought leading individuals who wish to distinguish themselves amongst their peers as pioneers of and contributors towards the global AM body of knowledge.

Research Group Members

Wyhan Jooste
Senior Lecturer – PR. ENG – SAAMA COUNCILLOR

Philani Zincume
Lecturer


The Asset Care Research Group (ACRG) provides an opportunity for prospective postgraduates to specialise in Physical Asset Management (AM).

The Importance of Physical Asset Management

AM is about the systematic and coordinated activities through which organisations optimally and sustainably manage their assets over their respective life cycles. AM is not only about doing things to assets, but more so about extracting value from the assets to achieve the organisation’s business objectives. AM is therefore multifaceted considering the strategic, tactical and operational aspects of an organisation’s portfolio of assets.

AM has become considerably important in the modern economy. Higher performance demands are placed on physical assets, such as equipment and infrastructure, while there are business and regulatory pressures to lower costs, risks and operate assets in a health conscious, safe, environmentally and socially sustainable manner.

To support industry in managing physical assets these challenges have led to the release of the ISO 55000 suite of standards and its predecessor PAS 55. Criticism of both these standards is that they provide guidance about “what” to do, but not about “how” to execute the guidelines. This has led to various developments such as the establishment of the Global Forum on Maintenance and Asset Management (GFMAM), defining the 39 asset management subjects and other asset management institutes which have developed custom models based on input from their member bases.

Globally AM practitioners are pursuing ISO 55000 compliance and practical guidance for extracting the value which AM has to offer. The need is however to pioneer methods, processes and technology applications to support AM activities horizontally across organisational activities and to support management vertically throughout the organisational hierarchy.

Research-based Programme in Physical Asset Management

With AM developments over the past decades more and more practitioners of AM have come to realise that the body of knowledge in the field has matured to such a level that there is diminished benefit in guarding this knowledge in an attempt to gain a competitive advantage. The AM fraternity has accepted that the sharing of knowledge and collaboration will ultimately advance the field.

The Asset Care Research Group (ACRG) was founded in 2011 with its focus areas being: to standardise, broaden, deepen and disseminate knowledge about AM. Since its inception the ACRG has established itself as a premium research destination for postgraduate AM thought leadership with a comprehensive portfolio of research outputs and activities.

As part of the ACRG students have the opportunity to specialise within a specific area of AM in order to become a subject matter expert. It is aimed at individuals who are already established and capable AM engineers who wish to distinguish themselves from their peers, as well as the next generation of AM thought leaders who will spearhead the future of AM.

For more information about the group’s research activities visit its LinkedIn Group.

The ACRG cannot achieve its aim of being a premium research destination for postgraduate thought leadership without active collaboration with its partners. To ensure its research outputs are relevant, students are encouraged to collaborate actively with industry, government, non-governmental organisations (NGOs) and other research organisations. In support of the ACRG’s purpose the group has built working partnerships with various organisations through collaborative projects or are contributing to industry through our part-time students.

The ACRG contributes to industry through a strong part-time student base. Organisations which have directly benefited from having employees affiliated with the ACRG include: South African Navy and Airforce, SABMiller, Medi-Clinic, Globeleq, Transnet, Eskom, Shell Petroleum, Shoprite Group and the Passenger Rail Agency of South Africa (PRASA).

Some examples of our working partnerships are:

Anglo American

Gaussian Engineering

Pragma

Journal Articles

Proceedings International

Proceedings National

Doctorates

Master

General Presentation

Magazine Articles

1. Pragma Bursary Information

2. NRF Freestanding, Innovation, Scarce Skill Development Fund Masters and Doctoral Scholarships

3. Engineering Postgraduate Funding

4. Ad-hoc Funding

Gateways


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