After 35 years in the asset management game, I’ve learned that leadership isn’t about perfection—it’s about progression. It’s about making tough decisions, staying adaptable in the face of change, and putting your team’s success above your own.
Over those decades, I’ve seen what works—and what doesn’t. The best leaders succeed not because they know all the answers, but because they focus on creating value, empowering their people, and driving continuous improvement.
Here are the 10 elements I believe define exceptional asset management leadership, rooted in lessons from over three decades of experience.
1. A Strategic Visionary
Asset management is about more than maintaining uptime—it’s about aligning with the organization’s broader goals: safety, environmental stewardship, reputational integrity, and profitability. As I often say, “Dollars talk, and BS walks.”
One of the first lessons I learned in my career was the importance of connecting asset decisions to long-term outcomes. I’ll never forget a conversation with a CEO who wanted to cut preventive maintenance to “save money.” I told him, “You’re not saving money—you’re kicking the can down the road and creating a massive maintenance debt.” Great leaders see the big picture and ensure today’s decisions build a more resilient organization for tomorrow.
2. Data-Driven Decision Maker
Data is the difference between deciding and guessing.
After 35 years, I still stand by this mantra. Leaders who leverage tools like predictive analytics, condition monitoring, and lifecycle cost analysis make better, faster decisions.
But here’s the thing: Be careful what you measure, because what gets measured gets done. Early in my career, I worked with a site that focused solely on maintenance compliance. Sure, the numbers looked good, but critical inspections were being skipped because they weren’t tracked. That taught me a hard truth: if you focus on the wrong metrics, you’ll drive the wrong behaviors.
3. A Servant Leader
Servant leadership has been my North Star since the beginning. It’s about asking, “How can I help my team succeed?” and following through. At its heart, servant leadership is about RESPECT—ensuring your people have what they need to succeed and thrive.
I once had a technician tell me during a plant turnaround, “We’re set up to fail because we don’t have the right tools.” That feedback led to immediate changes, and the turnaround finished ahead of schedule. Great leaders show RESPECT by taking actions that uplift their teams and prioritize their well-being.
4. Gemba-Centric Leadership
You can’t lead effectively if you don’t understand what’s happening on the ground. That’s why I’ve always spent time at the Gemba—the place where work happens. On one site visit, I noticed a technician struggling with a misaligned pump. After some digging, we found the root cause in an outdated procedure. Fixing it improved operations not just at that site, but across the company.
Gemba leadership is about listening, observing, and learning. As I always say, “You can’t lead what you don’t understand.”
5. Avoiding Analysis Paralysis
After three and a half decades, one of the most valuable lessons I’ve learned is this: The pursuit of perfection prevents progress. As I like to say, “Usually, 80% is a win—continuously improve from there.”
The pursuit of perfection prevents progress.
I once delayed a decision on a maintenance strategy because I wanted more data. By the time we implemented it, we’d missed critical opportunities. It was a hard lesson, but it reinforced the importance of acting decisively. Good decisions made today are better than perfect decisions delayed indefinitely.
6. Managing Human Factors Effectively
One of the most significant lessons I’ve learned is that 80% of what goes wrong in asset management is due to human factors. Of this, about 70% stems from organizational artifacts—things like unclear processes, poor training, and cultural misalignment—and 30% from individual errors.
Effective leaders prioritize human factors management. This starts with focusing on engineered and active controls for risk mitigation. Leaders who show RESPECT ensure the systems they build are intuitive, reduce stress, and enable success. Relying too heavily on administrative controls (like policies and procedures) is a sign of weak leadership. Great leaders minimize human error by design, not discipline.
7. Decisiveness to Make Tough Decisions
Leadership often means making the hard call, even when it’s unpopular. I’ll never forget the time I had to let go of a high-performing but toxic manager. It wasn’t an easy decision, but it was the right one. The team’s morale and productivity improved almost overnight.
As Jack and Suzy Welch wrote in “Send the Jerks Packing,” toxicity undermines trust and collaboration. Great leaders demonstrate DECISIVENESS by addressing these issues head-on, with empathy and fairness, but without hesitation.
8. Embracing Technology Wisely
Technology can be a game-changer in asset management, but only if it serves the business process. I often say, “We don’t want solutions looking for a problem.” That just creates distractions. Technology must simplify and enhance—not complicate—the work.
As Occam’s Razor suggests, simpler is usually better. Technology, if selected and applied casually, can overcomplicate processes and erode efficiency. Leaders must show LEARNING in exploring new tools while maintaining discipline to ensure those tools serve clear business needs.
9. Champion of Sustainability
Sustainability isn’t just a buzzword—it’s a leadership imperative. As the Department of Energy estimates, most industries can reduce energy consumption by about 20% just by executing best practices well. The bulk of these improvements center on physical assets—the primary energy consumers. Doing so not only cuts energy costs but also reduces carbon footprints, fugitive emissions, and wear-and-tear on equipment.
I always ask, “How can we do this better, safer, and cleaner?” Leaders who prioritize sustainability demonstrate RESPECT for the environment while driving long-term value for their organizations.
10. Lifelong Learner
After 35 years, one thing is clear: leadership isn’t about knowing everything—it’s about knowing what to learn next. I’ve attended countless workshops, conferences, and training sessions, and I’m always amazed by how much more there is to discover.
Recently, I picked up new insights into motion amplification technology that completely changed how we approached condition monitoring. Sharing that knowledge with my team not only improved diagnostics but sparked new innovation. Great leaders show LEARNING by modeling a commitment to acquiring knowledge and encouraging their teams to do the same.
12 Pearls of Wisdom from Ed Welch
Ed Welch was employee number 8 for Toyota North America when he started at the Georgetown, Kentucky campus, which he helped open. He and his talented team of colleagues effectively translated the Japanese version of the Toyota Production System and modified it to work in the USA.
He went on to head up engineering, maintenance, and projects for Toyota during a time of rapid growth and expansion. I’m privileged to call Ed a friend and a mentor. He’s still mentoring me today. When I asked him to comment on this article, he came back with the pearls of wisdom you see in the sidebar – very sage advice from the Sensei!
Go to the Gemba: To understand opportunities in a process, ask the person doing the work.
Make the Hard Call: Addressing tough issues builds team trust. Timidity from leaders can drag the team down.
Solve Problems Together: Involve all stakeholders for the best solutions. Quality Circles work. Be a team player.
Don’t Automate Bad Processes: Automation amplifies flaws. Fix the process first.
Avoid Idle Time: It destroys morale and self-esteem. Keep your team challenged.
Support Autonomy: Excessive control limits your team’s potential. Encourage independence.
Follow Up on Directions: If it’s not important to you, it won’t be to your team.
Build Relationships: Practice humility, kindness, listening, and caring to strengthen connections.
Leverage Strengths: Focus on your team’s strengths and gently coach their weaknesses.
Be a Role Model: Follow the rules or work to change them if needed.
Be Truthful: Honesty fosters respect and trust.
Embrace Imperfection: Everyone makes mistakes—pencils have erasers for a reason.
Final Thoughts: Leadership Is About Service
After three and a half decades in the asset management game, I can tell you this: great leadership is rooted in RESPECT, DECISIVENESS, and LEARNING. RESPECT for your people and the systems you build. DECISIVENESS in making tough decisions and challenging the status quo. LEARNING to keep adapting and innovating.
Progress beats perfection every time. Focus on clear goals, manage human factors effectively, embrace technology with intention, and commit to continuous improvement. That’s how you lead—not just for today, but for the future.
Leadership isn’t about perfection—it’s about progression. Let’s keep serving, learning, and leading—together.
Drew Troyer is a seasoned expert with over 30 years of experience in sustainable manufacturing, physical asset management, energy management, and reliability engineering. He has a proven track record of helping companies in the mining, resource, process, and manufacturing industries optimize their operations to be more sustainable, reliable, and profitable. Drew is a thought leader and a prolific author, with over 350 published works and extensive experience as a keynote speaker at global conferences. He is also a Certified Reliability Engineer (CRE) and Certified Energy Manager (CEM), holding advanced degrees in business administration and environmental sustainability.
