ADVANCED ASSET MANAGEMENT: TOOLS AND TECHNIQUES

This presentation describes the six “Whats” of asset management. These six levels of implementation can be used as a methodology for the implementation of an asset management plan in most organizations. An asset management plan provides a framework for collecting the data and information required to make decisions about the strategic plans of the fixed assets of an organization. The extent of the asset management market in Canada is large, upwards of CDN$ 5.5 trillion; while in the USA it could be six-times larger. The estimated maintenance and repair expenditure requirements in Canada are of the order of CDN$110.0 billion per year, whereas capital renewal expenses are close to CDN$ 86.5 billion per year. The sum of these two figures is close to double the value of new construction in Canada each year. Similar maintenance and renewal figures in the USA could be to the order of US$800 billion per year. Managers of municipal infrastructure are realizing the need for effective tools to manage this vast asset base, and are now demanding decision-support tools to help them in their work.