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Strategic infrastructure asset management: the way forward

Too, Eric G. (2010) Strategic infrastructure asset management: the way forward. In Proceedings of 5th World Congress on Engineering Asset Management, World Congress on Engineering Asset Management, Brisbane Convention & Exhibition Centre, Brisbane, Queensland.

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Abstract

Organisations owning and managing infrastructure asset are constantly striving to obtain the greatest lifetime value from their infrastructure assets. Many such organisations have adopted the concept of “asset management” with the aim of improving the performance of their infrastructure assets. This paper evaluates the adoption of asset management to improve performance in the context of organisations managing infrastructure assets. Relevant previous research studies on main barriers to the adoption of asset management are reviewed. Analysis of these findings, together with deductive reasoning, leads to the development of the proposed improvement strategies. Three issues were identified as barrier to the advancement of the concept of asset management. They are (1) lack of recognition, (2) fragmentation; and (3) growing complexity. To overcome these issues, this paper suggests that the organisations manage infrastructure assets must (1) adopt a more strategic approach in the management of infrastructure assets, (2) develop a framework of strategic infrastructure asset management processes, and (3) identify the core capabilities needed in the management of infrastructure assets. This paper presents the direction for further research to advance the concept of asset management in the management of infrastructure asset.

Impact and interest:

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ID Code: 38454
Item Type: Conference Paper
Keywords: Infrastructure, Asset Management, Strategic, Capabilities, Processes
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > OTHER BUILT ENVIRONMENT AND DESIGN (129900) > Built Environment and Design not elsewhere classified (129999)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Organisational Planning and Management (150312)
Divisions: Past > Schools > School of Urban Development
Copyright Owner: Copyright 2010 [please consult the authors]
Deposited On: 12 Nov 2010 07:41
Last Modified: 13 Nov 2010 01:06

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