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Asset Management Stewardship: The Effectiveness of Public-private Mix Governance Structures

Mills, David E., Brown, Kerry A., & Waterhouse, Jennifer M. (2008) Asset Management Stewardship: The Effectiveness of Public-private Mix Governance Structures. In International Conference on Infrastructure Systems: Building Networks for a Brighter Future, 10 – 12 November, Rotterdam, Netherlands.

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Abstract

Major infrastructure assets are often governed by a mix of public and private organizations, each fulfilling a specific and separate role i.e. policy, ownership, operation or maintenance. However, it is increasingly problematic to maintain separate and distinct governance arrangements for each of these functions due to their criticality to achieving social outcomes such as supply of water, power and transport and their interdependency in terms of risk management. The success of long term asset management is therefore becoming reliant on coalitions of organizations and groups working in a co-coordinated and collaborative way to deliver services. Yet, it is unclear how to conceptualize these networks of relationships and to determine the types of entities and arrangements that will best contribute to successful collaborative governance. Stewardship theory is revisited to provide a lens through which asset management governance can be examined. It is argued that the concerns of the community in regard to the long-term sustainability of infrastructure assets from environmental, accountability, strategic and business perspectives may be well served by a renewed conceptualization of stewardship theory.

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ID Code: 17141
Item Type: Conference Paper
Keywords: Asset Management, Public-Private Partnerships, Governance
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Business and Management not elsewhere classified (150399)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Organisation and Management Theory (150310)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Research Centres > CRC Integrated Engineering Asset Management (CIEAM)
Current > Schools > School of Management
Copyright Owner: Copyright 2008 IEEE
Copyright Statement: Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Deposited On: 06 Jan 2009 14:34
Last Modified: 05 Jan 2011 23:40

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