Leading Practices for Strategic Asset Management: Strategic Asset Management, Communication, and Implementation

Abstract

In response to the need identified by its utility members, the Water Environment Research Foundation funded a research program on Strategic Asset Management (SAM) Implementation and Communication for wastewater and water utilities to improve the management of their assets. One objective of the research program included identifying the leading practices that contribute to a strategic asset management program. A self-assessment tool was developed and used by 36 utilities to identify the level of their asset management practice. These self-assessment scores were analyzed to identify potential leading practice utilities, as well as areas to focus as opportunities for improvement. The six areas of focus that were identified, included Organization and People, Strategic Asset Planning (and related Asset Management Plans), Business Risk Management, Maintenance, Secondary Data and Knowledge, and Accounting and Costing. The initial results were validated first by telephone interviews with the six leading practice utilities. Site visits were then conducted to research information on specific practices, as well as to collect multiple utility examples. Leading practice statements were developed, as well as a method whereby a utility's asset management team can identify candidate practices for adaption. This title belongs to WERF Research Report Series . ISBN: 9781780400198 (eBook)