The Digital Renaissance is upending the traditions in asset-intensive industries — and that is a powerful charge for improving their overall performance. Asset Management is going through another turning point in its existence – the transition from conventional practices to Digital Twin Management.

The long road from Industry 3.0 to Industry 4.1

‘There are decades where nothing happens, and there are weeks where decades happen.’ –  Vladimir Lenin

From March 23 to 30, we held the exclusive series of workshops ‘Reimagine Asset Management’ with 4 guest expert presenters. In 4 insider workshops, each with a limited number of participants – 10 seats, and led by our executive team and one guest expert, we studied and discussed the four aspects of Digital Twin Management:

• Agility;
• Integration;
• Remote operations;
• Organizational approach.

We closed with the culmination of the shared experience in the Grand Finale on March 30, where step by step we assembled and went through the full 10-steps road map. Learn how to distinguish your enterprise by the way you use technology to supercharge your assets. Download the ‘Reimagine Asset Management’ on-demand bundle:

• • 5 workshop recordings;
  • 5 presentation decks;
  • The exclusive 10-steps roadmap to Digital Twins Management.

#1 Insider Workshop: Agile Asset Management

Developing something complex – software, a building, a business process, can feel like wandering in the wild. In this context, Asset Management is following Project Management as a methodology, as an idea, as an approach towards the successful execution of such a project. Both are accompanied by extensive planning, identification of gaps and weaknesses, goals that are not always achieved, but we must set. Together with Johan Jansen van Rensburg we discussed how organizations can refine their Asset Management schedules, operations, and objectives and align them with the business processes and functions.

Part of the topics we covered:

1. The supportive and nurturing function of technology in transitioning towards Digital Twin Management.
2. How new technologies can add value, integrate with, and ease the adoption of the ISO 55000 suite of standards?
3. How to gather and analyze asset data – historical, real-time, and future predictions.
4. Training agile asset management teams.
5. How to utilize organizational assets for efficient internal and external operations?

#2 Insider Workshop: Integrate Asset Management

After laying the agile environment in the company, you need to weave an integrated framework for Asset Management in the company. The integrated approach creates the connection between the business units. It is the active path along which:

• Your asset data flows in real-time;
• Drives timely and up-to-date communication in business departments;
• Prevents large-scale interruptions and asset downtime;
• Provides specific information on the state of the infrastructure and the performance of the equipment at all times.

Tautvydas (Tony) Dagys expanded our knowledge with guidelines on how you can integrate assets, people in the company, and business processes through Low-Code technology and skillful handling of asset information.

Part of the topics we covered:

1. Integrated Asset Management keeps the organization whole and connected.
2. How the relationship between systems is based and builds on the agile approach?
3. When data quality is (not) important to success.
4. Building sustainable infrastructure with data-centric practices.

#3 Insider Workshop: Enable Remote Operations

Together with Alexander Stoyanov, Head of Smart Infrastructure & Business Unit Building Products Lead at Siemens, we have combined “repair” and “asset operations” to demonstrate how engineers, mechanics, technicians can manage and optimize the full asset lifecycle without the need for physical contact.

Part of the topics we covered:

1. The core of remote operations and their enablement factors.
2. How to enable remote operations with the Digital Twins?
3. Real-life examples of the Digital Twins in the automotive and building industries.
4. The connection between physical and digital, business and technology.
5. A walk around the Digital Twin Office Building of the Siemens HQ.

#4 Insider Workshop: Digital Twins Approach

The end product is called Digital Twin Management, but at its core is the fruitful interaction and alignment between people, assets, and technology:

• Their utilization;
• Achieved return on investment;
• The ease of operation;
• Providing more added value to the customer.

The challenge for one of the 10 fastest-growing ISPs, and its entire ecosystem of more than 1,100 partners, was visibility into the asset lifecycle. Get the lessons learned from owning and managing hundreds of thousands of devices from the co-founder of Excitel – Nikolay Gorchilov.

Part of the topics we covered:

1. The business use case of the Digital Twins: How to set the ground for success?
2. The road to Digital Twins: Execution.
3. How NOT to kill the ‘Twin’?
4. The end-to-end transformation of Excitel’s asset lifecycle management through innovation.

‘Reimagine Asset Management’ Grand Finale

Together with all the guests, we walked the way from the foundations of the Agile approach in Asset Management through integrating the technical and operational components of the system to enabling remote operations, and finally how to lay down an effective framework for adopting Digital Twin Management in your day-to-day operations. We explored how to transition from conventional practices to Digital Twin Management and summarized the shared knowledge in a full 10-step roadmap during the event Grand Finale.

Instead of a conclusion – Adapted version of ‘Manifesto for Agile Software Development to Agile asset management

Manifesto for Agile Asset Management

We are uncovering better ways of managing assets by applying them ourselves and enabling others to. Through this approach we have come to value:

• Individuals and interactions over processes and tools
• Working assets over comprehensive documentation
• Stakeholders’ collaboration over offline communication and reporting
• Responding to change over following a static plan

That is, while there is value in the items on the right, we value the items on the left more.

Special Thanks to Our Partners