Written by: Copperleaf

Webinar: Value-based Decision Making

This webinar was created in collaboration with the Institute of Asset Management (IAM). Copperleaf is proud to be a patron of the IAM.

Organisations want to realise the optimum value from assets with the use of scarce resources. The concept of value and the activity of decision making are vital to good asset management practice and are interlinked. The importance of value and decision making has been recognised through the work on the revision of ISO 55001; value is not currently addressed in ISO 55001 and not defined in ISO 55000. Value-based decision making is an approach that helps organisations align decisions to realise the most value from their assets.

Dr. Demetrius Onoufriou explores value-based decision making as a practical approach for an organisation to optimise the value from its assets, with examples of how value frameworks are deployed in practice. A decision-making maturity scale will illustrate how decisions are often made in asset-intensive businesses, with the concept of Multi Criteria Decision Analysis (MCDA) lying towards the top of this scale, along with the significance of time in decision making.

Watch this webinar to learn:

  • Why it’s important to gain a common understanding of value
  • How to identify the value criteria that matters most to an organisation
  • How to build a Value Framework to assess which projects deliver the highest value

This webinar is shared courtesy of the Institute of Asset Management. Learn more about the IAM here.