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Meet the Instructor: 
Drew D. Troyer

Workshop: Creating Institutional Value with an Effective Asset Strategy

Wednesday, March 2 (8:30 am –  3:00 pm)

 

WORKSHOP FACILITATOR

Drew D. Troyer, CRE, MBA

Drew D. Troyer has more than 25 years of practical experience as a reliability engineer and asset management thought leader.  An advisor to hundreds of blue chip clients in the manufacturing, mining and process industries, Drew brings a wealth of knowledge, experience and creativity to organizations to enable them to increase the productivity, safety and environmental performance of their engineered assets, while simultaneously reducing the cost of ownership.  His client list reads like a who’s who of global industry.   Drew has authored more than 200 books, chapters, articles and technical papers on various aspects of reliability engineering and management.  He’s created numerous training workshops, including Reliability Engineering in Dollars & $ense and Cut the FLAB with Proactive Maintenance, which focuses on fasteners, lubrication, alignment and balance – the foundation of equipment reliability.  Drew holds the Certified Reliability Engineer (CRE), Certified Maintenance & Reliability Professional (CMRP), and MBA qualifications.  Drew is also passionate about land conservation and preserving our natural resources for future generations.  He chairs the board of directors for the Compatible Lands Foundation, a nonprofit land trust, serves on the board of the Partnership for Conservation, and is pursuing graduate education on Natural Resources Management at Harvard University in support of that passion.

 

FULL-DAY WORKSHOP

Creating Institutional Value with an Effective Asset Strategy

Drew D. Troyer, CRE, MBA
Asset management is getting a lot of press these days.  The approval of the new ISO 55000 standard, and its sub-parts, is a great start and is creating a lot of discussion and momentum.  Regrettably, most organizations simply aren’t ready for asset management because they haven’t developed a cohesive strategy for extracting maximum value from their assets that’s linked to the organization’s mission and business objectives.

Organizations possess a wide variety of assets from which they derive and create value.  These include real property assets, intangible assets, such as brand, patents, industrial secrets and/or know-how, and productive physical assets that convert raw materials into finished goods that meet the needs of the firm’s customers and other critical stakeholders.  Productive physical assets are the focus of this important workshop.  This course does not, however, focus on the technical aspects of the assets per se.  Rather, we’ll dive into the important interactions between the assets, the functional aspects of the organization, customers and other important stakeholders and competitors. 

The interrelationships between functional groups as they relate to the creation/acquisition, utilization, maintenance and ultimate renewal of productive physical assets are extremely complicated because each functional group’s participation can span literally decades of time as the asset progresses through its life cycle.  Too often, one functional group unwittingly, and without malice, undermines the efforts of one or more other functional groups that are responsible for other aspects of the life cycle of productive physical assets.  These unintentional conflicts must be strategically reconciled and resolved – a job that can only be accomplished by top management.  Common conflicts that we’ll include:

  • Selling beyond the capabilities of the productive physical assets
  • Designing and acquiring productive physical assets to minimize cost and timescales, while creating downstream problems in terms of operability, maintainability and flexibility
  • “Racing” productive physical assets to failure to meet short term goals – the cycle of despair
  • When production goals conflict with safety goals

This is not a technical workshop – it’s a strategic workshop intended to equip senior managers and their key advisors with the knowledge required to extract maximum value from their productive physical assets and manage the risks associated with those same assets over the life cycle of the assets, with a heavy emphasis on organizational dynamic, organizational motivations and associated reward systems.  It is intended for individuals with significant experience in some aspect of leading or managing a physical asset-intensive business.  The workshop leader will presume the delegates possess a basic competency and understanding of the general terms and nomenclature associated with business strategy, financial management and other associated skills, the likes of which one might obtain in an MBA or similar executive education curriculum, or have gained through significant experience as a senior level manager.  Attendees needn’t have an engineering or technical background to participate in or benefit from this workshop.

Targeted Organizational Professionals

  • General corporate or plant management
  • Financial and/or accounting managers
  • Risk managers
  • Design engineers and managers
  • Human resources managers
  • Business development managers
  • Plant managers
  • Operations managers
  • Maintenance managers
  • Health safety and environmental managers
  • Supply chain managers

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