Asset Management Planning

Infrastructure asset management is an actionable, lifecycle planning strategy that helps agencies minimize the total cost of ownership, increase asset reliability and extract value from critical and natural infrastructures, such as roads, bridges, energy, and parks. WSB firmly believes asset management is most effective and innovative when discussions happen across an agency. To maximize these conversations, WSB helps clients navigate the asset management process, create strategic plans, implement technology, and identify risk areas. The collaborative process develops a platform to communicate funding needs and the technical tools and planning to optimize those investments.

Government or commercial clients that own infrastructure assets can benefit from asset management practices. When a client is on their asset management journey, WSB evaluates their current state of practice and finds improvement opportunities.

 

Our approach

 

Experience
Our experience as both consultants and asset owners will provide a clear path to successfully implementing asset management policies, strategies, and plans. Over the past 20 years, WSB has worked with various cities, counties, and state governments to develop asset management products.

Background in Technology
Our team utilizes advanced data collection, extraction, and modeling technologies. WSB implemented numerous Enterprise Asset Management Systems (EAMS) in a diverse set of organizations. We recognize the importance of planning and assessing needs to drive technology decisions.

Full-Service Firm
Our team of asset management experts, public works operations leaders and technologists provide a full service that can respond to any asset management goal. Whether the project is to write an asset management policy or establish a comprehensive EAMS, WSB has the team and resources to reach your goals.

Inventory

Condition

Risk/Resilience

Performance Measures and Targets

Performance Gap Analysis

Life Cycle Planning

Financial Planning

Recommendations and Work Plan

Inventory

To create an asset management plan, a comprehensive inventory of existing assets is necessary. Using advanced technology and data management, WSB facilitates building inventories and setting up condition metrics.

Condition

Document the current asset condition for predicting future conditions is used to demonstrate the state of the system using different funding scenarios.

Risk/Resilience

Every asset has risks, it is essential to identify and prepare for them. WSB’s risk analysis discovers asset risks, rates their likelihood and impact, reviews current management strategies, and finds ways to manage the risk to reduce its likelihood.

Performance Measures and Targets

Setting performance measures and targets are essential for long-term improvement and organizational priority setting. WSB develops these measures by naming strengths, weaknesses, accepted levels of risk, historical trends, and best practices.

Performance Gap Analysis

All these steps lead to identifying the gap between current and desired performance. WSB finds what is needed to effectively address the gap and tell the story of investing in fixing the gap.

Life Cycle Planning

An effective asset management plan relies on understanding the length of each asset’s life cycle, how much it costs to support each of them, and required maintenance schedules. WSB develops life cycle planning structures that inform decision making in capital improvement planning, find inefficiencies in current practices, and help agencies collect and harness data better.

Financial Planning

Creating an investment forecast and properly deploying funds are critical to successful asset management programs. Many organizations employ a worst-first investment approach without reviewing the options and constraints thoroughly. WSB uses data to recommend the best and most efficient investment strategy for each asset.

Recommendations and Work Plan

Asset value is a measure of an asset’s monetary worth over time. It illustrates how infrastructure is like a portfolio that requires oversight to provide extra value and to preserve it for the long term.

Services

  • Create agency asset vision and objectives
  • Perform a gap assessment of existing asset management efforts
  • Conduct an asset management software needs assessment
  • Provide asset management software implementation and support
  • Develop a strategic asset management plan
  • Develop asset management plans for critical assets
  • Locate, identify, and classify assets using advanced technology
  • Conduct asset risk and vulnerability assessments
  • Set performance-based targets and provide planning to meet a desired level of service
  • Use predictive lifecycle modeling to plan for effective capital, maintenance and operations investments
  • Optimize life cycle management, financial and investment strategies
  • Implement technologies that advance and meet organizational needs

Asset Management Advantages

  • Fosters engagement at the management level
  • Improves operational efficiency
  • Tracks estimated and actual costs
  • Predicts asset performance
  • Manages/prioritizes maintenance activities
  • Improves community safety/reducing liability and exposure
  • Maximizes existing budget dollars and helps plan future budgets
  • Extends the life of the infrastructure
  • Communicates planned and completed maintenance and inspections throughout the organization
  • Improves the sharing of information across organizations
  • Increases cost transparency through understanding the total cost of owning an asset
Asset Management Maturity Graphic
Click to enlarge.

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