#26 - David McKeown - From Data to Actionable Decisions: Unpacking Holistic Asset Management

Guest: David McKeown TD, BSc (Tech), CEng, MIEE, FIRSE, FRSA, Life FIAM
Honorary Vice President, The Institute of Asset Management (IAM)

Bio:
David McKeown, a Chartered Engineer, has rich experience across various sectors. He's a founder member of the IAM, serving as its first CEO from 2009-2019. He was instrumental in the UK's contribution to the ISO 55000 asset management standards. David emphasizes the role of people, culture, and leadership in effective Asset Management.

In this podcast David is speaking personally and not on behalf of the IAM.

Full Bio: Link

Episode Overview:
Electrical engineer, David, explores asset management's intricacies, sharing his journey from engineering to leading at the IAM. He sheds light on the "Six Capitals" framework, emphasizing the need to see beyond monetary value in asset management.

Key Points:

• Asset Management’s Scope: Goes beyond tangible assets, focusing on deriving value throughout their lifecycle.
• Value Perception: Value is multifaceted, not just financially driven.
• Six Capitals Framework: Comprises Manufactured, Natural, Social & Relationship, Human, Intellectual, and Financial Capitals.
• Decision Impact: Importance of evaluating all consequences, both expected and unexpected, in asset decisions.
• Holistic Approach: Encompasses Knowledge Management and seeing the bigger picture.
• Management Standards: ISO 19650 and ISO 55000 series offer guidelines for effective governance in asset management.

Key Resources:

• IAM: Link
• ISO 55000 series: Link
• 'Six Capitals' Overview: Link
• Integrated Reporting: Link
• ASSET Definition from ISO 55000: Link
• ISO 19650 series: Link
• DIKW Pyramid: Link
• KM Overview: Link
• IAM's Asset Management Anatomy: Link

#AssetManagement, #DecisionMaking, #RiskAssessment, #BestPractices, #KnowledgeTransfer, #ISO55000, #TheIAM, #SystemsThinking

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