ASSET MANAGEMENT: A MATTER OF DEFINITION—AND POLICY!
Abstract:Asset management is not a difficult topic and early gains can easily be made, although some techniques can be analytical and complex. But some water and wastewater utilities in the United States still have a poor understanding of what asset management is. Many others, with a more complete understanding, are finding it difficult to move forward.
This paper has two aims. The first is to define asset management in terms of its fundamental purpose. The second is to look at the policy implications of this purpose. The paper's conclusion is that asset management is, in the final analysis, policy driven. Until governing boards (not just staff) understand this, real improvements in utility operation will remain difficult to achieve and sustain.
Document Type: Research Article
Publication date: 2005-01-01
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