Asset Management

Asset management spans many divisions and areas within an organization, and as such, it is essential to ensure asset management is aligned and integrated with the organization’s strategy and planning efforts. From developing asset management policies and strategic asset management plans, to linking asset management with capital planning, investment prioritization, and sustainability/environmental, social and governance efforts, we provide a breadth of experience and knowledge across the asset management spectrum. Further, we work with organizations to develop comprehensive asset management plans that recommend how owners should manage their assets over the next 10, 20 and 50-plus years. These plans define long term needs, recommend funding levels, and define work strategies for new and existing assets.

Asset management business process and information improvements are the foundation for a strong and mature asset management program. We work with organizations to understand their key asset and asset-related processes, visualizing workflows to validate accuracy and identify opportunities for improvement. This dovetails into understanding the essential components of the organization’s asset information and data framework, standards, and governance — identifying required data, structuring the data, identifying data gaps, and helping fill those data gaps. We help organizations consider these processes and data needs across the entire asset life cycle, from inventory and condition to asset maintenance and performance.

We help develop analytical frameworks and dashboards to understand, communicate, and harness asset data, leading to more advanced analytics (such as transitioning from reactive to predictive and prescriptive analytics) to helping guide organizations to comprehensive life cycle asset management, operation and performance.

Understanding the current state of the assets is critical to optimizing service delivery and maintaining safety. An organization needs to know what they have and the condition it’s in, in order to optimize the value of the assets and validate that the assets are in a state of good repair. We first support organizations in understanding their asset inventory and condition needs. What data is needed to support decision-making? What data is currently available? What is the most cost effective and safest way to collect the missing data? Once these key questions are answered, we can conduct the asset inventory and/or condition assessment as well as provide post-processing support. We utilize the latest technology and approaches to data acquisition and post data processing (artificial intelligence, light detection and ranging, unmanned aerial vehicle, etc.).

Asset management aligns to the asset life cycle, which begins with strategic and long-range planning, when the need for the asset is identified and continues until the end of the asset’s useful life when the asset is disposed. Our team provides a full array of services to help owners operate and maintain their infrastructure more efficiently and effectively throughout the entire life cycle. Our services include developing customized life cycle strategies, implementing capital rehabilitation and maintenance optimization programs, and assisting with the decommissioning and replacement of assets to support continued operation and user safety.

Through a comprehensive and collaborative approach with key stakeholders, we work with organizations to assess their current asset management capabilities using industry benchmarks (e.g., ISO 55000, IAM [Institute of Asset Management] framework), understand both their short-term and long-term asset needs, and develop an asset management improvement roadmap aligned to the organization’s overarching goals and objectives.

To support asset management, we work with organizations to further dive into the operation and maintenance of their assets. We not only develop predictive models to help organizations understand and communicate the relationship between funding and future asset conditions, we also support integrating reliability-centered maintenance and conducting failure analysis to improve decision-making and funding prioritization. The result of this process is a set of condition targets that help communicate priorities, guide programming decisions, serve as a basis for tracking progress towards goals, and improve accountability. 

We help improve the technology infrastructure of an asset management program, from helping to evaluate, procure, and oversee implementation of enterprise asset management applications, to reviewing and enhancing existing software applications and technology across the asset management spectrum. We have experience in a variety of asset management and asset management related software, to help organizations understand proper software integrations and interfaces and how their systems fit into the greater digital strategy for the organization.