Infrastructure Asset Management Optimizes Value, Service & Objectives
Asset Management Maximizes Infrastructure Value, Improves Customer Service & Achieves Organizational Strategic Objectives to Serve Your Stakeholders.
Infrastructure represents a considerable part of our lives and economy. The built-environment has been progressively expanding for more than 100 years. With population growth, new infrastructure is constructed, yet existing infrastructure continues to age with time requiring ongoing maintenance investments. Organizations that heavily depend on infrastructure have been managing these assets for centuries. For municipalities, it’s the public infrastructure networks that citizens use in their daily lives such as tap water, sewers, or transportation. For a national or global corporation, it’s the land and machinery that produces the product for consumers to buy, like food for your family or a vehicle for transportation. Managing assets that produce a service or product is a tactical process. Managing Assets assures infrastructure is optimally functioning over its service life and the consequential risk of failure is minimized. But is that enough?
As organizations have looked inward to find direction and resiliency, strategic plans have been developed that define vision and long-term goals. Then begins the arduous process of aligning people within your organization to execute the strategic plan. Compounding the task is alignment of daily tactical operations with the organization’s strategic objectives. Managing assets is a good thing; but if investments on infrastructure fall short of working toward organizational strategies, then the investment was probably a lot of work for very little return. Therefore, the best management skills must be applied to ensure that infrastructure assets are resilient, continue to provide value and are sustainable for generations to come. For these reasons, Asset Management offers the recognized best practices that deliver service and value on an organization’s infrastructure in an asset- concentric world.
Asset Management, what is It, what’s the Value, and what are the Benefits?
What is Asset Management?
Asset Management is an organization’s coordinated activity by its people to realize value from its infrastructure assets.
- A well-defined framework provides value, alignment, leadership and stakeholder trust.
- Triple Bottom Line themes of social, economic, and environment sustainability are fulfilled, in addition to good governance, transparency and accountability.
What is the Value of Asset Management?
Asset Management’s value is when an organization’s activity achieves its strategic objectives;
- Operational objectives are aligned with an organization’s purpose and long-term objectives.
- Asset portfolio is optimized to reduce overall operational cost and build organizational financial resiliency.
- Organizational behavior is transformed to improve customer service, product, and quality of life for people through its infrastructure.
Optimized Asset Management Yields Significant Benefits
Organizations benefit from Asset Management by improving their ability to balance financial, social, environmental costs, risk, quality and performance related to infrastructure assets. Some benefits include but not limited to:
- Opportunity – use infrastructure assets to enhance social, economic, and environmental experience, create opportunities for renewable energy and energy conservation.
- Financial Resiliency – reduce costs and unfunded liabilities, raise bond rating, minimize utility rate fluctuations, reduce product cost, and record a more accurate monetary value for infrastructure.
- Accountability – improve customer satisfaction, awareness, and trust; exceed stakeholder expectations and demands; create transparency.
- Manage Risk – avoid costly service disruptions to critical infrastructure systems, minimize uncertainties, and reduce financial losses.
- Sustainability – build healthy revenues, be prepared for unexpected natural occurrences, effectively manage short and long-term effects.
- Service Delivery – accomplish processes and procedures better, faster, and efficiently.
- Organizational Health – establish a clear ‘line of sight’ within the organizational structure, improve acceptance, ownership, competence, leadership's skills and employee morale.
- Alignment - fully understand infrastructure’s contribution to long-term objectives; develop leaders and teams that aim to deliver on priorities and goals.
We Inspire, Transform & Apply Asset Management Within Your Organization
Our consultation and implementation team will help you apply, transform, and benefit from the rewards of using Asset Management. We will work side-by-side with you on items such as:
- Baseline Assessment & Roadmap for the Future – We use the Institute of Asset Management's Self-Assessment Methodology tool to see where you already are with managing infrastructure, and identify areas of focus for building future capability to put Asset Management into real practice within your organization.
- Organizational Health – We focus on alignment, leadership, priorities, teamwork, trust, and building good morale – all signs of a vibrant culture when providing services to large asset infrastructure systems.
- Unwavering Values – We craft an Asset Management Policy that defines principles, commitments, legal, regulatory requirements and responsibilities that your organization must uphold with respect to your organizational objectives.
- Sharpening Your Management System – We coordinate elements of your business into an organized management system that supports sustainable asset infrastructure.
- Delivering Your Organizational Strategic Plan – We convert high level business vision, mission and objectives into asset-concentric objectives and strategies for your infrastructure in a Strategic Asset Management Plan. What does risk look like and how are decisions made on infrastructure investments? We help shape alignment between top management’s directional commitments with the daily operational responsibilities of your workforce.
- Infrastructure Investment Strategies – We build Asset Management Plans to develop inventory assessments, service levels, infrastructure demands, risk & critical systems, intervention strategies, resource tracking and funding forecasts over the life-cycle of your infrastructure.
- General Advocacy – We provide services related to preparation of RFQ, RFP, and the Qualification Based Selection process for securing professional & procurement services aligned with your Asset Management strategies and objectives.