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Asset Management Manual
A guide for practitioners!
This first section of the manual deals with some of the core components and enablers of asset management an organization should take into account when considering the adoption of a formal asset management approach. The section is made up of four chapters: Implementation, Organization, Strategy and Performance Management.
The initial chapter sets the context for the application of asset management, and describes the recommended procedure for its implementation. This procedure comprises the following steps: a) Establish the organization goals and objectives; b) Undertake a self-assessment and gap analysis; and c) Identify improvement actions. Linked to self-assessment, the chapter mentions some of the maturity models that can be used as a reference to evaluate the road organization competencies.
A successful implementation of asset management requires the road organization to have a proper structure and capacity to allow for the required work and information flows. The above is discussed in chapter 1.2, which includes various topics related to adapting the organizational structure to support asset management, namely leadership and culture, a further description of self-assessment, asset management champions, asset management roles and competency requirements.
Asset Management is a long-term, strategic process of managing road assets effectively during their life-cycle. Therefore, the development of an asset management strategy is one of the key activities involved in adopting the asset management framework. Chapter 1.3 explains what an asset management strategy is, the range of aspects it should cover, how it can be prepared, and who should be responsible for this activity within the road organization.
Finally, chapter 1.4 describes another core component of asset management: the performance management framework. This component is needed to determine if the road organization is in the right path to achieving the objectives set out in the asset management strategy. As described in this chapter, development of a performance management framework involves translating the organization objectives into the required levels of service, and linking the above with performance measures and targets for monitoring progress in reaching the desired outcome.