assetvblog-blog

[assetvblog-blog]

Invest in culture and teamwork

Especially as multi-cultural teams pose a challenge to human interaction, to invest in teamwork and a team culture is still seen as worthwhile and highly recommended. At the end, the quality of the work depends on the whole team, not a smart chief engineer. 

What is also requires time and opportunities to be given by the management (I) for proficiency in a common language (English) and (II) personal interaction, be it in common training or regular company events

[assetvblog-blog]

As the years have progressed, there has been a significant shift in the industry towards owners putting the well-being of their vessels in the hands of more organized and structured programs. This was not always the case.  For many years, management companies were around, but on a much less proportionate level. There was still the “sales” side that was taking place and each owner was getting the pitch about the “real benefits” that this extra large expense was providing for them.

These days, it's the norm and yacht management companies are here to stay. 

Some of the questions to consider are:

What is it that they actually do for you that your crew does not /can not?

Why is the crew not doing it, if that's the case?

What is ISM and ISPS and why should I care?

Why can’t the captain or my own company’s Human Resource department do the payroll?

And most directly related to us…technical management; isn’t that what my chief engineer is supposed to be doing?

All very good questions and many of us still wonder about them, although we know that they do things that we as crew either do not want to do or that they simply do better.

#yachtmanagement #yachtcompany #technicalmanagement #yacht

www.asset-v.com

[assetvblog-blog]

Should I hire a superyacht project manager?

Building or refitting a multi-million euro superyacht is a huge undertaking regardless of previous industry experience, yet some owners may challenge the hire of a dedicated project manager (PM) as an unnecessary cost or additional chain of command to slow decisions down.

With the increasing complexities of industry regulation, and the sheer scale of these projects, even the most experienced of owners undertaking projects at the most established shipyards will need to rely on an expert team to ensure that the end result comes in as desired - looking and working as hoped, on time and budget.

www.asset-v.com

[assetvblog-blog]

What Can You Do to Protect Your Yacht from Cybercrime?

It is time for yacht owners to take the threat of cybercrime seriously.

Yacht owners are by their very nature high net worth individuals, and this makes them a natural target for hackers and cybercriminals.

Just as you no doubt have planned well, to physically protect your yacht, passengers and crew, it is equally important that you also develop and implement a cybersecurity strategy.  Your yacht is highly dependent on digital equipment and networks. These systems can be hacked, putting your vessel and passengers at risk.

It is not only compromising your yacht’s operational systems that you need to worry about. There can be all sorts of sensitive data on board your yacht’s computers that cyber-crooks would just love to get their hands on. Many, if not all yacht owners, do personal and professional business while onboard, and that kind of data is ripe for the picking by hackers!

In recent years, several yacht owners have reported incidents of “ransomware” attacks. Ransomware is a kind of cyber-attack where infected software, or “malware,” takes over your ability to access and operate your computer, or your boat’s computer systems, until you pay a “ransom,” by paying for a service to remove the damaging malware.

Ransomware type attacks can be prevented much the same way as most malware attacks. Keep a good up-to-date antivirus on all onboard computers. Be aware of any computers that your guests tie into your yacht’s Wi-Fi system. Once a guest is on your network, any vulnerabilities in his or her computer opens a door to your entire onboard network. Instruct all computer users onboard not to open any unknown or suspicious looking emails.

Protecting the onboard systems from hackers and data breaches is a bit more complex, and probably will require some professional IT advice to make sure you have proper countermeasures in place. However some basic steps you can take include:

Making sure crew and guests only have access to the systems that are necessary

Give crew members individual passwords to the onboard systems, so you can always be sure who accessed the system and when

Be sure any and all “sensitive data” is stored only on the vessel’s hard drives and not on the network

Block websites that are known common malware points of entry

Limit use of bill pay, online banking, and similar activities onboard

Do not let any guests plug external hard drives, or any USB devices into your network without your knowledge and clearance by your captain

Inform all onboard about prudent use of social media. Instruct them not to post information about who is on board, where you are bound, etc. Avoid saying anything that can make your boat, or your passengers a target!

However, you can minimize your exposure by making sure everyone onboard is aware of the potential risks and follows some commonsense preventive measures.

[assetvblog-blog]

Yacht Management 

Plenty of captains succeed in managing a professionally run yacht from on board, but very few do so in isolation; management and outside experts often can provide the framework for the Captain to work within. This will allow new ideas, new methods and updated technologies to be nurtured and implemented where appropriate. You would need a superhuman to keep up with all the new developments in the marine industry, and although most captains are very nearly at that level, by sharing the knowledge you ensure that the vessel runs at optimum level.  The Captain manages the yacht and (hopefully) delegates to the appropriately resourced and experienced experts ashore, that is the message. A Captain is expected to have an encyclopedic knowledge of all things nautical – and many do – but in order to manage and administer a yacht, one needs impeccable knowledge of the Company, Trust or Limited Liability Partnership that owns it; of top-tier funding, finance, banking and accounting; of the legal and regulatory constraints of modern business; and of the employment, payroll, tax and VAT position of the seafarer. This requires a vast skill set that you simply don’t find in one person. Somewhere in that cornucopia of required knowledge, is yacht management.

[assetvblog-blog]

Management techniques that will help you hold on to your yacht crew.

Keeping your crew happy is one of the hallmarks of a great leader. Whether you’re a captain or part of the yacht’s management team, considering these ideas when trying to keep your crew motivated will make sure they want to go the extra mile for you.

1.Be a good communicator

Captains and management companies often have the big picture in mind. They know upcoming plans and have already identified the challenges ahead; however, they don’t often take the time to share that information with the crew. Keeping your crew in the dark about future yard periods, upcoming winter plans, and/or changes on board cause the rumour mill to start. Sharing this type of information with the team enforces a feeling among crew members that they count and are important to the overall success of the yacht.

2.Lead from the front

Obviously different roles have different responsibilities on board and a Chief Officer on a 100m MY is going to spend less time on deck than a CO on a 50m MY. But… getting stuck in on deck doing a washdown the day before the owner arrives for an unexpected, last-minute visit is good for the crew to see. Getting your hands dirty when you need to show everyone is in it together and it is a genuine team effort. It is a lot harder to do this whilst you are sitting behind a lap top 24 / 7.

3.Money doesn’t matter as much as you think

The motivation for team members can come in part from a salary, but a large part depends on a combination of the satisfaction of day-to-day work and the opportunity to make a valued contribution. When the opportunity presents itself and it is appropriate, open things up to your department. When appropriate allow the crew to make some decisions themselves without always micromanaging. Give crew specific projects which are theirs to own and take care of.

Another way to inspire these feelings is to help each department learn about what the others are doing, creating a strong sense of team and collaboration. A sense of ownership will have them all supporting one another to achieve the best outcome.

4.Knowing me, knowing you

A team barbecue on the beach or dockside after a charter gives crew a chance to chill and chew the fat without moving too far or making much effort. Mixing the teams up so that is different departments and people who generally don’t talk pairing up is good for building relationships too.

6.Brain train

Trying something new allows crew to become more confident in their abilities. Show you are invested in their growth by providing on-going training and career development opportunities and write that into their crew contracts.Show them you value their work by helping them to grow and pushing them out of their comfort zones.

7.Be fair

Be scrupulously fair across the board. Whilst having favourites in your team is completely understandable and part of human nature, it is bad news when you are leading the troops. Make sure all perks and all the unappealing jobs are handed out evenly. If you don’t you will rapidly have some unmotivated and resentful crew on your hands. 

8.Get them involved

Yacht crew involvement in local charity events builds great networks of support among the team and helps them to feel integrated into the local community.

9.Ease off the throttle

Yachting can be incredibly hard work and pressurised with very little down time so you can’t work people at 100% intensity, 100% of the time without people breaking down. Take whatever opportunities you can to give crew time off. Whether that is working extra hours to give everyone a day off or some form of a rotational system. Don’t invent jobs to be done or redo things just for the sake of it.

There is nothing groundbreaking in any of the points above and some of it is probably screamingly obvious. But hopefully, it is a gentle reminder of some basic management ideas which may make everyone’s lives easier and more productive. Good luck.

www.asset-v.com

[assetvblog-blog]

Building a superyacht is by no means a simple process, with construction, legal and insurance implications all to weigh up. For this reason, employing an experienced and impartial project manager is essential.

Stefano Bombardini Asset V (Malta)

www.asset-v.com/yachts

[assetvblog-blog]

Monaco Boat Show 2017

Asset V offers a wide range of specialist yachting services which aim to reduce the administrative burden but maximizes the benefits of ownership. Asset V services include Crew Payroll and employment solutions, technical services including ISM & ISPS, safety and project management and much more. We will be attending the Monaco Boat Show. Our yachting experts can help interested parties to foresee and avoid issues well before they become a problem. We offer free yacht structure ‘health checks’ on a no-commitment-necessary basis, to assess whether your yacht ownership structures are compliant and fit for purpose.

If you are attending the Monaco Yacht Show our yachting experts would be happy to meet with you there to discuss your needs. #MYS2017

[assetvblog-blog]

Asset-V has been busy preparing for the upcoming Monaco Yacht Show next week in the midst of several high-profile projects currently underway. We have used augmented reality to bringing our brochure to life.

Here is a sneak peak.Scan the image with the app and see it work.

  #layar #MYS2017 #augmentedreality #yachtmanagement