Ask ten people to define asset management and you’ll get a dozen different definitions. Some will think of their stock portfolio, others will think of aging infrastructure and some may cringe no matter what the definition. At SGM we see it simply as a comprehensive strategy to cost-effectively deliver a high level of service. How this is accomplished is usually unique to every organization, but there are some common tools and strategies.
At SGM we use the following diagram to guide the process of tailoring asset management to each organization. Many of our projects involve only a piece of this process at any given time, but it’s important to keep them in context with the total lifecycle planning process.
We’re often asked what our asset management services include and the answer is always the same – it depends! It depends on your organizational goals, your specific priorities, your staff resources, your budget and more. However, below are some examples of services:
- GIS intelligent mapping – full implementation or assisting/coaching staff
- Asset Inventory – customizable spreadsheet databases or software integration
- Condition Assessment – assess condition, remaining useful life, etc. for facilities, utility systems, plants and more
- Repair & Replacement Schedule/Budget – asset-specific recommendations and cost estimates for repair, replacement, and annual O&M
- Capital Improvement Plan – developing, reviewing, updating, implementing
- Financial Analysis – Financial Feasibility Study, Revenue and Expense Analysis, Lifecycle Cost Analysis, Multi-year Budgets, etc.
- Operations & Maintenance (O&M) Plan – including facilities, utility systems and more
- Strategic Planning – developing, reviewing, updating, implementing
- Decision support assistance – additional analysis, graphics, presentations or communication
- Risk & Criticality Assessment – customized development and analysis of specific priorities and risk factors
- Capacity Analysis – evaluating any type of infrastructure to determine its current and projected capacity
- Demand Analysis – evaluating any type of infrastructure to determine its current and projected demand
- Regulatory Analysis – local, state and federal regulations can sometimes be a moving target and a this type of analysis helps identify risk potential for pending and/or potential regulations
- Comparative/Benchmark Analysis – evaluate how infrastructure is performing compared to a peer group
Software Evaluation and/or Operation – assisting in the feasibility of GIS/asset management software/hardware evaluation or full operation
- Cost of Service Study, Rate Analysis, Impact Fee Study – these are fairly standard services, however when integrated into broader asset management efforts, the value and accuracy is increased
- Utility Branding –utilities have brand perceptions just like a business and that perception matters when ratepayers are asked to increase their rate, mil levy or taxes, so developing away to better communicate value is becoming increasingly important
GIS-based As-built Intelligent Mapping uses advanced cloud-based and intelligent mapping technology to document detailed as-built information on any and all infrastructure components in a project. The ‘intelligence’ is in having an online, editable ‘map’, with accurately located assets, supplemented with as much detail as you can imagine (such as photos, historic reports, legal records, maintenance logs, equipment nameplate data, etc.) that integrates site, building, mechanical and other project elements into one intuitive tool. The Intelligent Map then becomes not only the basis for storing, sharing and updating information on every asset and system, but it becomes the go-to tool for managing your organization.
If you would like to see a demonstration, please contact Chris Lehrman via email or at 970.384.9043.