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assessing asset

Creating the Optimal Asset Series

Adam Boughton | Transport, Infrastructure & Logistics Lead, Brisbane | 05 December 2019

In this six-part series, Adam Boughton identifies and explores six Golden Rules that, if incorporated in the very early stages of the project’s foundation and actively engaged throughout project execution, can result in optimal project potential and outcomes.

Welcome to the Creating the Optimal Asset Series

In this six-part series, I will identify and explore six Golden Rules that, if incorporated in the very early stages of the project’s foundation, and actively engaged throughout project execution, can result in optimal project potential and outcomes. I haven't introduced a new way of working that will revolutionize industry or be a key part of the 4th Industrial Revolution. But, if we assess our current projects through the lens of these Golden Rules, we should reflect and consider – are we properly taking them into consideration? Are we really optimizing the asset from the start? Can we do better? Can we consider these rules and maybe, just maybe, provide a greater outcome for our client, for the asset owner, and for the operator who needs to deal with our design and construction consequences for 20+ years?

I will briefly touch on many elements throughout this series. For the invested reader who wants to further reflect on the implications of these rules, vast amounts of literature can be found on the internet. However, I want to caution that success is not dependent upon any single one of these rules- it is vital that all are. It is this point that I want to stress: the combination and inclusion of all the Golden Rules can provide significant improvements to project outcomes. My hope is that a with this understanding, these rules will serve as the foundation for creating the optimal asset.

Adam Boughton, Regional Director – EMEA sectors

As we take a deeper dive into these golden rules, we should stop to consider that maybe, just maybe, we can provide improved, positive outcomes for our clients, for the asset owners, and for the operators who must manage the consequences of our designs. Are we really optimizing assets from the start? How can we do better?

Creating the Optimal Asset chapters

Chapter One | Creating the Optimal Asset

In the first of this six-part series, Adam Boughton presents six Golden Rules that, if incorporated into the very early stages of a project and then carried through into execution, can provide the foundation for the creation of the optimal asset, minimising the risk of introducing assets that will cause significant frustrations for the Owner/Operator in the 20+ years ahead that they will have to use the assets.

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XR and XRB locomotives

Chapter Two | Innovative benefits versus innovative risks

In part two of this six-part series, Adam Boughton discusses Golden Rule #2, understanding the balance between “Innovative Benefits” vs. “Innovative Risk.” How do you tackle the challenge of knowing when you should choose to be an innovation leader versus an innovation laggard for any given project?

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business risk

Chapter Three | Evaluate solutions on a whole of life value basis

There are many necessary considerations that a decision maker can use to reasonably assess viability in the early concept and pre-feasibility stages of project preparation. In the third part of this six-part series, Adam Boughton explains how Whole of Life Value Analysis (WLVA) may be the most crucial element to positioning the project for greatest success through execution and into operation.

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globe and data

Chapter Four | Will you use a performance-based or prescriptive-based specification?

Many organisations do not understand the difference between performance-based and prescriptive-based specifications. In the fourth part of this six-part series, Adam Boughton explains what each is and how they can ultimately affect project risks and outcomes.

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data moving forward

Chapter Five | Understand the metric of Overall Equipment Efficiency

In the fifth part of this series on Creating the Optimal Asset, Adam Boughton explains how the Overall Equipment Efficiency metric can provide significant understanding of asset efficiency, particularly in the early stages of a project.

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performance indicators

Chapter Six | Value Engineering WILL add value

Value Engineering is a well-defined and documented process that is not just about cutting costs. In the last part of the 'Creating the Optimal Asset' series, Adam Boughton shares the value engineering process and how it can ultimately drive project success.

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business analysis