June 12, 2023
By Shannon McGrath, Director of Asset Management Planning, WSB

Infrastructure asset management is the process of operating and maintaining assets throughout their lifecycle; managing performance, value, and risk to achieve organizational objectives. Many communities face significant challenges in maintaining assets and aging infrastructure, from roads to bridges to water and sewer systems. As infrastructure ages, it becomes more expensive to maintain and repair. In some cases, it may even become necessary to replace it altogether.

Why Asset Management Matters

Without an asset management strategy in place, jurisdictions struggle to manage their assets, resulting efficiently and effectively in communities failing to utilize data to understand their inventory, maintenance needs, and replacement requirements. Asset management is crucial as it minimizes risks and expenses while maximizing resource utilization, reducing maintenance costs, enhancing infrastructure service reliability, prolonging infrastructure lifespan, and facilitating informed decision-making for infrastructure investments.

Fully Integrated & Proactive Asset Management Makes All the Difference

Proactive asset management requires jurisdictions to follow the fundamentals of asset management. We developed a maturity scale to share these fundamentals which can be used by any organization that owns, operates, and/or maintains infrastructure assets. The purpose of this scale is for an organization to identify what current efforts are in place and what steps of progression are needed to move them toward full, proactive asset management. Knowing where to start and the road ahead is crucial to ensure the efficient use of resources and enhance the overall quality of their infrastructure.

When working with organizations to create and implement asset management fundamentals, we focus on a structured and continuous approach. It begins by ensuring the right stakeholders are involved and creating a cultural shift to move from a reactive to a proactive approach. Successful asset management creates a centralized system of record, helping to reduce risk and uncertainties, allowing for a greater shared asset to data, and ensuring organizations can seamlessly collaborate across departments to improve public services. Our dedicated team takes a holistic approach with multidisciplinary experience to guide clients through asset management maturity.

Shannon has spent over a decade advancing asset management at local, state, and national levels by serving on asset management committees, advisory panels, and project management teams. While working at MnDOT, Shannon directed the agency-wide asset management planning including projects, research, policy, innovation, strategic planning, and implementation in collaboration with internal and external stakeholders.

[email protected] | 651.492.9291

February 13, 2023
By Kory Andersen, Sr Asset Management Planner, WSB

Infrastructure assets are not something we think about often, but we rely on them in our everyday lives, so it’s important we get the most out of them. When community leaders think about how to make their cities smarter, they often don’t think broadly enough. Leaders need to expand their thinking from an operations-centric perspective to thinking about how they maintain the assets themselves. 

When creating the smart city of tomorrow, there are numerous opportunities to integrate systems so that assets are better understood, better preserved, and better utilized. It means harnessing the power of digitization and predictive modeling, from major assets like roads and bridges, to smaller assets like streetlights and playground equipment. 

Here are some ways that community leaders can build asset management into their smart city planning. 

Ensure Smart Tools are Integrated When Managing Replacing Infrastructure 

Many of our major assets are aging and no longer able to be fixed and maintained with a band-aid approach. When replacing or upgrading assets, city leaders must ensure they are using the latest software and tools that allow them to better monitor assets and predict when they will need repairs. Enterprise Asset Management Systems (EAMS) provide digital tools that allow communities to coordinate all of their asset management from a wholistic, cross-asset trade-off approach. Digital integration also ensures better communication among all city departments and leaders – from the person on the ground making repairs, to engineers, to the city official making long-term financial decisions. 

Integrating digital management tools into community assets can also help cities strategically rethink capital planning over 10, 20 and 30 years. Making the digital transition in how you manage ensures that you are not just being reactive, but proactive in asset management. Moreover, it also ensures that knowledge about asset management is institutional and not lost as workers retire or move to different positions. 

Understand How Smart Asset Management Mitigates Risk 

Community leaders need to think about risk in two ways: the risk of an asset itself and the risk of an entire system of assets. Think about it as a pipe in a whole network of pipes. When one pipe breaks down it can impact the entire system of pipes. Better understanding when one piece of the whole will need to be updated or receive maintenance ensures a more efficient overall system, and better protects assets. 

Additionally, climate change also plays a significant role in asset risk. Many systems were built decades ago, using models and assumptions that no longer work as we face more major storms and weather events. Smart city tools reduce risk and protect assets like storm water systems. 

Think About Long-Term Savings 

For many leaders, adopting new technologies or implementing smart city policies can feel financially overwhelming, but there are numerous long-term benefits and cost savings. Predictive modeling can better manage and preserve assets, providing savings over the long-term while reducing unexpected costs. Resources and staff time are also better utilized.

Additionally, smart asset management reduces liability, risks, and improves community safety. When managing critical but often overlooked assets like sidewalks and crosswalks, for example, there are digital trails of maintenance and asset management plans. Not only is liability reduced, but city budgets, residents, and taxpayers are better protected too. 

Smart Asset Management Helps Humans Be Human

Relying on humans to know everything when it comes to asset management is unrealistic. There are so many variables and details that smart tools can predict and better manage. Rethinking asset management ensures that cities are managing all their assets in ways that are efficient, predictive, risk mitigation, and better serve residents. 

Not sure where to start, or unsure of the best ways to integrate asset management into your smart city planning? WSB can help your community integrate smart technologies and tools to better manage your assets. 

by shannon mcgrath, Director of Asset Management Planning, WSB

The state of Minnesota’s 2022 infrastructure report card was released earlier this year by the American Society of Civil Engineers and the state of our infrastructure is not great. Within the report card, the Minnesota Department of Transportation (MnDOT) was commended for their approach to employing asset management strategies to support infrastructure needs across the state. Collectively, there are opportunities to improve infrastructure at the state and local level through the use of a comprehensive asset management program, but knowing where to start can be overwhelming.

Understanding Infrastructure Asset Management

Asset management is defined many ways. In this context, infrastructure assets should be thought of as any asset used by the public. Roads, bridges, culverts, dams, pipes, and buildings are just a few examples of public infrastructure. 

From there, the approach is to develop planning and strategy to minimize total cost of ownership, increase reliability and resiliency, and meet a desired level of service.

Implementing Asset Management into Community Planning

Planning for and implementing comprehensive asset management plans and programs should be thought of as a multi-step process that includes the following:

1. Defining vision and objectives
2. Collecting and managing inventory and condition data
3. Conducting risk analysis
4. Developing performance measures and targets
5. Completing a performance gap analysis
6. Planning for life cycle management, financial, and investment strategies
7. Implementing technologies to meet an organization’s goal

Asset owners can start in several places, but it’s important to take a thorough, thoughtful look at all assets and plan for how to best allocate funds and time. That means taking a step back to look at the bigger picture of your desired level of service and how to achieve it both efficiently and effectively. 

Scalable Solutions

Asset management is a spectrum and can be scaled to any type of asset and any size community or organization. Different communities are at different levels of maturity in planning, but it’s important to recognize a current state and where improvements can be made. 

Furthermore, by facilitating discussions holistically and cross-departmentally, rather than driving asset management through a single area, the idea and importance of it can be adopted into the culture. Emerging trends like more efficient technology and tools to capture, store, and analyze data are also driving more informed decision making and helping drive better planning for communities and organizations of all sizes. 

Shannon has spent over a decade advancing asset management at local, state, and national levels by serving on asset management committees, advisory panels, and project management teams. While working at MnDOT, Shannon directed the agency-wide asset management planning including projects, research, policy, innovation, strategic planning, and implementation in collaboration with internal and external stakeholders.

[email protected] | 651.492.9291