Asset Management and The Price of Regret

Management System Thinking Miniseries

I asked Scott Stallard (GSS Consulting), a good friend, what were his thoughts on why management system thinking is different.  He answered, “it provides a means to determine the price of regret”.  The preceding article, What is Management System Thinking?, introduced what management system thinking is.  This article explains why it is a different way of thinking.

The Context

Preceding AMP Newsletter articles canvas how management system thinking is different, where it comes from, and the motivations behind it.  This world view is highlighted in the following articles:

• Managing Assets in the Context of Asset Management

• The Asset Management Paradox

• Strategies to Renew Federal Facilities

• Pathway to Limitless Asset Management

These articles highlight the genius of management system thinking, but not its genesis.  Although the National Academies of Science, Engineering, and Medicine (NASEM) Strategies to Renewal Federal Facilities report highlighted in the article of the same name gets close.  This report introduces the “management system thinking” concept.  This term was created by the report’s authors because they needed to define the “how to” get to the destination defined in the report.