Why industry needs asset management tools

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DOIResolve DOI: http://doi.org/10.1061/(ASCE)0887-3801(2001)15:1(35)
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Journal titleJournal of Computing in Civil Engineering
IssueJanuary 1
Pages3543; # of pages: 9
Subjectinvestment planning, maintenance management, municipal infrastructure, decision-making, decision-support systems, condition assessment; Asset management
AbstractThis paper provides a retrospective overview of asset management in the construction industry; emphasis is placed on assessing decision-support tools for municipal infrastructure planning. The study identifies the extent of the asset management market in North America, addresses the need for decision-support tools for municipal-type organizations, and identifies the challenges for maintenance, repair and renewal planning faced by asset owners and managers. Integration with existing systems such as computerized maintenance management systems, geographic information systems and corporate legacy systems is seen as the largest challenge for developing and using decision-support tools in the area of asset management. The present study classifies various stages of implementation for asset management using the six ?Whats? --questions that asset managers should ask about the status of their portfolio. Finally, the activities of a consortium in the area of strategic asset management are introduced. The investigation leading to this paper located a limited number of decision-support applications, and none provides a comprehensive solution to address the current needs for planning the municipal infrastructure.
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AffiliationNRC Institute for Research in Construction; National Research Council Canada
Peer reviewedYes
NRC number44702
NPARC number20386405
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Record identifier42a6857e-f63a-470b-8c33-23097fb93fff
Record created2012-07-25
Record modified2016-05-09
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