Asset management leads to more realistic budgeting and planning and enables considerable cost savings over the medium and long term.
| Title | Asset management building block summary sheet |
| Publication Type | Briefing Note |
| Year of Publication | 2013 |
| Authors | Boulenouar, J |
| Secondary Title | Triple-S Building Block |
| Pagination | 1 p. |
| Date Published | 01/2013 |
| Publisher | IRC |
| Place Published | The Hague, The Netherlands |
| Publication Language | English |
| Abstract | Asset management is"the combination of management, financial, economic, engineering and other practices applied to physical assets with the objective of providing the required level of service in the most cost-effective manner" (National Asset Management Steering Group, 2006). In practical terms it is the maintenance of a desired level of service at the lowest life-cycle cost. Asset management is a scalable approach that can be implemented for systems of any size. Asset management leads to more realistic budgeting and planning and enables considerable cost savings over the medium and long term. Major replacements need to be planned for and financed properly and long-term planning for replacement is crucial if sustainable services are to me maintained permanently. In theory this is usually done by the service authority such as local government or another external body, therefore the service provider may not have full responsibility for large-scale capital replacement or upgrading. Download the building block summary sheet here. |
| Citation Key | 77320 |
