Strategic infrastructure asset management: the way forward

Too, Eric G. (2011) Strategic infrastructure asset management: the way forward. In: 5th World Congress on Engineering Asset Management (WCEAM 2010): Engineering Asset Management and Infrastructure Sustainability, 25-27 Oct 2010, Brisbane, Australia.

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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.

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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to published version due to publisher copyright policy
Faculty/School / Institute/Centre: Historic - Faculty of Business and Law - School of Management and Marketing
Date Deposited: 29 May 2013 06:58
Last Modified: 20 Sep 2017 05:21
Uncontrolled Keywords: asset management; strategic; capabilities; processes
Fields of Research : 09 Engineering > 0905 Civil Engineering > 090505 Infrastructure Engineering and Asset Management
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150310 Organisation and Management Theory
Socio-Economic Objective: E Expanding Knowledge > 97 Expanding Knowledge > 970115 Expanding Knowledge in Commerce, Management, Tourism and Services
Identification Number or DOI: 10.1007/978-0-85729-493-7_73

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