The 2024 IAM North American Conference in Denver marked a milestone for the Institute of Asset Management (IAM), celebrating its 30th anniversary alongside the launch of new industry standards.
With over 300 attendees spanning diverse industries and disciplines, the event highlighted the evolving landscape of Asset Management through dynamic presentations, workshops, and panel discussions.
This year’s Conference Themes:
Risk and Value Alignment:
Many sessions emphasized the importance of balancing risk reduction with long-term value creation. Notable examples included Hydro-Quebec’s risk-based maintenance strategies, Milwaukee Metropolitan Sewerage District's project evaluations, and Pacific Gas & Electric's pilot study on expected value analysis for decision-making.
Resilience and Sustainability:
Organizations like New York State’s Department of Environmental Conservation showcased how integrating climate resilience into Asset Management strategies can address modern challenges. The University of Wisconsin-Madison provided insights on using asset management to advance sustainability goals.
Digital Transformation:
AI, machine learning, and data modeling emerged as critical enablers of modern Asset Management. Highlights included machine learning applications in pavement management and predictive analytics for utility optimization.
Organizational Change Management:
Success in Asset Management transformations was linked to aligning people, processes, and technology. Case studies from the City of Fort Collins and San Jose Water underscored the role of structured change management practices in achieving organizational alignment.
Global Impact:
Presentations from Uganda’s Ministry of Water & Environment and the UN’s Infrastructure Asset Management Initiative demonstrated the transformative potential of Asset Management in addressing global challenges, including infrastructure in developing regions.
As the IAM community looks forward to its next gathering in Toronto in October 2025, this year’s conference reinforced the critical role of Asset Management in driving resilience, innovation, and sustainability across industries. We look seeing to you there!