Strategic infrastructure asset management: the way forward

Paper

Too, Eric G.. 2011. "Strategic infrastructure asset management: the way forward ." Mathew, Joseph, Ma, Maode, Tan, Andy, Weijnen, Margot and Lee, Jay (ed.) 5th World Congress on Engineering Asset Management (WCEAM 2010): Engineering Asset Management and Infrastructure Sustainability. Brisbane, Australia 25 - 27 Oct 2010 London, United Kingdom. https://doi.org/10.1007/978-0-85729-493-7_73
Paper/Presentation Title

Strategic infrastructure asset management: the way forward

Presentation TypePaper
Authors
AuthorToo, Eric G.
EditorsMathew, Joseph, Ma, Maode, Tan, Andy, Weijnen, Margot and Lee, Jay
Journal or Proceedings TitleEngineering Asset Management and Infrastructure Sustainability: Proceedings of the 5th World Congress On Engineering Asset Management (WCEAM 2010)
ERA Conference ID44258
Number of Pages14
Year2011
Place of PublicationLondon, United Kingdom
ISBN9780857293015
Digital Object Identifier (DOI)https://doi.org/10.1007/978-0-85729-493-7_73
Web Address (URL) of Paperhttp://link.springer.com/chapter/10.1007/978-0-85729-493-7_73
Conference/Event5th World Congress on Engineering Asset Management (WCEAM 2010): Engineering Asset Management and Infrastructure Sustainability
World Congress on Engineering Asset Management
Event Details
World Congress on Engineering Asset Management
WCEAM-IMS
Rank
C
C
C
C
C
Event Details
5th World Congress on Engineering Asset Management (WCEAM 2010): Engineering Asset Management and Infrastructure Sustainability
Event Date
25 to end of 27 Oct 2010
Event Location
Brisbane, Australia
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.

Keywordsasset management; strategic; capabilities; processes
ANZSRC Field of Research 2020400508. Infrastructure engineering and asset management
350709. Organisation and management theory
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Byline AffiliationsQueensland University of Technology
Institution of OriginUniversity of Southern Queensland
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