Asset Management

Asset Management is a critically important but often undervalued and poorly planned aspect of construction and infrastructure delivery. The process of tracking, maintaining and optimising the use of physical assets through their lifecycle requires specialised experience and focus. Too often projects are developed with a short-sighted mindset which satisfies the requirements of completing the initial build but does not contemplate or emphasise the potential cost impact of maintaining the asset throughout its lifecycle.

Simple changes made during the design development phase can significantly affect whole of life costs for asset owners, Including ease of maintenance and other long-term incentives and benefits. Emphasis made at the front end using appropriate contracting incentives to encourage this focus will pay off in the long run.

Generally, investment is concentrated on creating new assets but less so on refurbishment or maintenance funding. These often struggle to be appropriately funded. Many Public Private Partnership arrangements, particularly in the early days of the use of this form of contract mechanism, struggled with this concept, leading to lifecycle issues and risks of abatement exposure to the contract parties. More generally, facilities maintenance contracts are constrained with budgets being prioritised to new capex works.

These days, tools are available or being developed that can help asset owners track their assets, providing real time analytics to make informed decisions. The shift from Corrective Maintenance (as a result of a failure) to Preventative Maintenance (scheduled servicing) to Predictive Maintenance (using data and analytics) is a move in the right direction.

The benefits of effective Asset Management include:
·    Reduced equipment downtime;
·    Improved project timelines;
·    Better financial control;
·    Increased asset lifespan; and
·    Enhanced worker safety.

If this is of interest - reach out to the team at Zero In Solutions at info@zeroinsolutions.com to find out more.