Infrastructure asset management and budgeting in lean economic times
A recent article published by the FCCMA (Florida City and County Management Association) examines how local agencies are managing critical infrastructure in current economic times. The article makes a case for how to effectively navigate through these uncertain times while evaluating budget options through optimization analysis and preservation of aging assets. The end result is a good state of repair and improved network condition of infrastructure.
“A SMART asset management framework helps target resources where they are most needed.”
Good governance of any asset classification and infrastructure network begins with developing a program around the core principles of intelligent and SMART (S-sustainable, M-measurable, A-accountable, R-return on investment, T-technology) Asset Management:
Recognizing the economic value of assets;
Achieving economic efficiency and the optimization of expenditure over the asset’s life cycle;
Understanding the role of the agency as “steward” of the assets; and
Determining risk and financial projections based on identifying assets which are most important to your network, its needs, and safety.
By developing a roadmap through the implementation of the above-referenced business process, the agency can start to understand what the actual life cycle costs are to build, maintain, and operate assets owned by the jurisdiction.
Addie is a professional engineer and Managing Director with Kercher Group. He is a former City/County Engineer and Public Works Director. Addie has more than 26 years of technical, administration, management. Over the course of his career, Addie has built and maintained collaborative and effective working relationships with the federal, state, and local public and private entities. He has successfully assisted agencies with the implementation of Asset Management, Operations Management Systems, and Project Management systems such as AgileAsset, CityWorks, Cartegraph, Maximo, Primavera Expedition, and GIS.
Connect with Us Today.
Let us partner with you to optimize your resources and make decisions that work today, tomorrow, and twenty years down the road.