An integrated approach to strategic asset management

Edited book (chapter)


Brown, Kerry, Laue, Martin, Tafur, Javier, Mahmood, Muhammad Nateque, Scherrer, Pascal and Keast, Robyn. 2014. "An integrated approach to strategic asset management ." Gheorghe, Adrian V., Masera, Marcelo and Katina, Polinpapilinho F. (ed.) Infranomics: sustainability, engineering design and governance. Switzerland. Springer. pp. 57-74
Chapter Title

An integrated approach to strategic asset management

Book Chapter CategoryEdited book (chapter)
ERA Publisher ID3337
Book TitleInfranomics: sustainability, engineering design and governance
AuthorsBrown, Kerry (Author), Laue, Martin (Author), Tafur, Javier (Author), Mahmood, Muhammad Nateque (Author), Scherrer, Pascal (Author) and Keast, Robyn (Author)
EditorsGheorghe, Adrian V., Masera, Marcelo and Katina, Polinpapilinho F.
Volume24
Page Range57-74
SeriesTopics in Safety, Risk, Reliability and Quality
Number of Pages18
Year2014
PublisherSpringer
Place of PublicationSwitzerland
ISBN9783319024929
9783319024936
ISSN1566-0443
Digital Object Identifier (DOI)https://doi.org/10.1007/978-3-319-02493-6_5
Web Address (URL)http://link.springer.com/chapter/10.1007/978-3-319-02493-6_5
Abstract

This chapter focuses on identifying and analysing the elements of Strategic Management for infrastructure and engineering assets and asks: what are the considerations and implications for adopting and implementing an integrated strategic asset management framework? We contend that corporate governance, policy, objectives and strategy as well as interagency collaboration should be considered as elements in a ‘staged approach’ to understanding how assets are managed within organisations. This will allow for a more comprehensive framework for engineering asset management that considers social and contextual elements. Asset governance details the policies and processes needed to acquire, utilise, maintain and account for an organisation’s assets. It stems from corporate governance principles and defines the management context in which engineering asset management is implemented. This will be examined to determine the appropriate relationship between organisational strategic management and strategic asset management to further the theoretical engagement with the maturity of strategy, policy and governance for infrastructure and engineered assets. The chapter draws on a document analysis of corporate reports and policy recommendations in terms of infrastructure and engineered assets. The chapter concludes that incorporating an integrated asset management framework can promote a more robust conceptualisation of public assets and how they combine to provide a comprehensive system of service outcomes.

Keywordsintegrated strategic asset management, service delivery planning , knowledge management, organisational management
ANZSRC Field of Research 2020400508. Infrastructure engineering and asset management
440709. Public policy
330406. Regional analysis and development
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Byline AffiliationsSouthern Cross University
Polytechnic University of Madrid, Spain
Queensland University of Technology
Institution of OriginUniversity of Southern Queensland
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