As gateways for regional and overseas trade, port assets are a cornerstone of Australia’s economy. Here, Matthew Primmer, Planning & Asset Development Manager at Port of Melbourne, covers the emerging technologies he’s most excited about and offers strategic advice for asset managers.

Matthew Primmer, Planning and Asset Development Manager at Port of MelbourneAhead of his appearance on the panel a closer look at inspection and condition monitoring at the 2019 Asset Management for Critical Infrastructure Conference, running from 20-21 August at Swissôtel in Sydney, Mr Primmer explains the vital role that condition monitoring plays in the Port of Melbourne’s asset management strategy.

“Inspection and condition monitoring is undertaken periodically and is scheduled using a risk-based approach which considers aspects such as asset residual life and operational criticality.

“These inspections form the basis for prioritising future maintenance and capital works.”

Regular inspections help ensure that potential problems are detected and rectified before they become major issues.

“Technological developments to enable real-time monitoring and the use of analytics to identify trends, patterns and relationships is really exciting,” Mr Primmer said.

“It provides opportunities to develop a deeper understanding of the performance of assets and make more informed decisions in regards to maintenance requirements.”

The top piece of advice Mr Primmer has for asset managers who are looking to refine their asset management strategies further, is to apply a targeted and collaborative approach when faced with a large problem.

“Break the problem down into smaller, manageable chunks.

“Consider what will have the most significant impact, or return on investment — think the 80/20 rule,” Mr Primmer said, referring to the principle that 80 per cent of results tend to come from 20 per cent of inputs.“You can’t solve it all at once. Focus your energy on the ‘big ticket’ items, and don’t get caught up in too much detail.”

Hear more from Matthew Primmer about improving asset management strategies at Asset Management for Critical Infrastructure, running from 20-21 August at the Swissôtel in Sydney. For more information or to register visit assetmanagementevent.com.au.