Asset Management Resources
What Is Asset Management
Asset management is effective planning to maintain or replace your system assets by answering key questions:
• What assets do we have?
• Where are they?
• How old are they?
• What condition are they in?
• How critical are they to our level of service?
• How do we budget for replacement?
By cataloging system assets and addressing these questions, you can pro-actively plan for maintenance and replacement. This includes developing and justifying a rate structure that accounts for future costs.
Is That Expensive And Complicated?
Cost and complexity for an asset management program vary depending on your demands and customer’s desires. There are free programs that can be installed and managed by a jurisdiction (examples can be found to the left). The cost for these programs comes with the staff time needed to build and maintain the asset inventory.
Proprietary, or fee for service, asset management programs are more complex and require dedicated staff. For some jurisdictions, this approach is necessary due to system size, and for others it is the most efficient solution. It is up to the jurisdiction to evaluate the options and determine the best fit for their unique situation.
What Are The Benefits?
Effective asset management enables you to:
• Make informed decisions on rehabilitation, repair, and replacement.
• Prolong asset life through regular planned maintenance.
• Meet customer expectations.
• Maintain your level of service.
• Decrease emergencies, and increase your ability to respond to them.
• Establish rates that are fair to customers and ensure fiscal stability for the jurisdiction.
• Increased and consistent compliance with regulatory requirements.
Who Can Help With Funding For Asset Management?
Public Works Board
Department of Health
Department of Ecology
Rural Community Assistance Corporation