When deciding where to start the Asset Management journey, many staff feel overwhelmed and can get discouraged at the perception that Asset Management planning is a mountain to climb; however, every utility has resources available to start the process at a place that makes sense for the utility and the community.
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Asset Management Planning Myths and Facts
Myth: “Asset Management Planning requires expensive software and enhanced technical knowledge”
Reality: Asset Management Planning can be done on paper, using free open-access programs, or using existing software your utility already has. With some know-how, simple instructions and advice that can be found in tutorials, and with technical assistance, you can build a robust Asset Management Plan for your utility.
Myth: “Only large cities benefit from an Asset Management Plan.”
Reality: Every utility, regardless of size, budget, and customer base, can benefit from an Asset Management Plan. Asset Management planning supports decision-making and long-term planning. Whether you are a community with less than 100 people or a major metropolitan area, there are parts of each component of Asset Management that will support your utility’s goals.
Myth: “Utilities will only see the financial benefits of Asset Management after many years.”
Reality: Depending on where you start, your utility could see the benefits of Asset Management almost immediately. Many utilities that begin the process of identifying assets and their conditions begin to move to more preventative maintenance and less reactive maintenance because they have a better understanding of the condition of critical and damaged assets. Decreasing reactive maintenance reduces costs quickly and those savings can grow over time.
Where to begin?
You know your utility. What is a common issue that your staff often address?
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- Are you frequently trying to locate assets?
- Maybe you need to start by building an accurate map of your assets.
- Are there some assets that are constantly being repaired?
- Maybe you need to consider assigning criticality scores to your assets.
- Does your community need large infrastructure upgrades?
- Maybe you need to start considering what long-term funding options are available to your utility.
Don’t Do It Alone!
Find others in your utility, in other departments, and in the community that are interested and invested in beginning Asset Management planning.
- Bring in staff from your street or parks department.
- Involve decision makers
- Talk with other utilities who have started an Asset Management plan
- Ask for help from your local technical assistance provider
Asset Management is an ongoing process that has to start somewhere. Keep it simple and start with what you know makes sense for your utility.
Stay tuned for part 3: Turning Sense into Dollars: Using Asset Management for Financial Decisions
Additional Resources:
EFCN Blog: https://efcnetwork.org/asset-management-why-should-i-implement-a-program/