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Keep it Simple and Focused – A More Efficient method of Implementing Asset Management

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During the last several years, the asset management network has evolved to the point where practitioners, not only in this country but worldwide, are engaged routinely in discussions regarding how to progress asset management practices. Asset management is basically about doing the right things at the right time. The goal of an asset management program is to establish the ability to analyze maintenance, repair, renewal and replacement options and compare available strategies against the alternatives. But, planning and implementing an asset management program can appear to be too complex or comprehensive for utilities to effectively engage. Perhaps at its simplest level, the asset management implementation process includes: asset identification, asset registry, condition and criticality assessment, service levels and prioritized decision making with regard to risk and consequence of asset failure. Along with recognizing the importance of these fundamentals is that from an organizational perspective, asset management equals change management. Therefore, a “new” more efficient method for implementing an asset management program is readily attainable if the organization alignment is achieved and the implementation process encompasses four phases as described in this paper.
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Document Type: Research Article

Publication date: 2008-01-01

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