Generic asset management system components include the following:
- Goals and policies of the organization
- Asset inventory
- Condition assessment and performance modeling
- Alternative evaluation and program optimization
- Budget allocation
- Short and long range plans
- Program implementation
- Performance monitoring and feedback
Asset management provides the ability to show how, when and why resources need to be committed. Making asset management a reality requires new information and analytical tools, new approaches to organizational communication, and new management practices. Technology enables an Asset Management system to function. Asset Management relies on technology in two key areas. First, in the collection, storage, and analysis of data. Data can be gathered more quickly with higher quality and spatial accuracy than ever before. The data can then be stored, retrieved, and analyzed with powerful data servers and software. For example, with the advances in geographical information systems (GIS) and global positioning systems (GPS), the important spatial component of analysis can be more fully explored. With the development of faster and more capable computers, the application of more robust and sophisticated modeling software is possible. The second important aspect of technology relates to the presentation and communication of the analytical results to decision makers inside and outside the agency. Most highway organizations have their computers on networks, which allow for greater levels of communication than ever before. Again, advances in software, including GIS, allow for the presentation of these results graphically. Through advanced multimedia capabilities, today’s software can paint a picture of what the analysis predicts, markedly improving the communication of ideas. The success of program strategies and practices is measured by changes in performance and remaining structural life. Performance criteria and measures also help decision makers identify and target critical system requirements.
IS Based Spatial Information
GIS is used to determine the location of an asset and its proximity to another asset, or location of an event and its relationship to another event. Such information may then be used to make decisions in design, construction and maintenance.