Better Asset Management through Centralized System

Proactive maintenance and management of infrastructure assets can benefit from centralized asset management (CAM) platforms.

When you think of infrastructure like roads, it does not just refer to a single component like a stretch of pavement. It is usually made up of a collection of parts like asphalt or concrete pavement, bridges, streetlights, cameras, detectors, signage, control gates, fiber optics, etc. all these parts contribute to a smooth and safe driving experience, a level of service that asset owners and managers aim to maintain.

Maintaining and improving infrastructure is often a reactive process or happens when there is a break or damage to infrastructure, causing service levels to drop.

A proactive approach to asset management is more beneficial and could be done through centralized asset management (CAM) platforms.

Mass Transit’s article, “Best Practices: Infrastructure Asset Management: Leveraging the Benefits of Integrated Systems,” explains:

“Optimizing the asset’s life cycle is best done through a centralized system that catalogs the full component inventory, layers in real-time information, and optimizes proactive maintenance to preempt more costly and extensive future maintenance needs. Real-time monitoring includes tracking the physical and environmental conditions around the asset, like severe weather, traffic collisions or unexpected roadway hazards.”

“Benefits of a proactive asset management approach include improved road safety, operational and maintenance cost savings and minimized future risks.”

Implementing centralized asset management requires an organization to regularly manage and inspect the assets component.

Based on the article, since infrastructure assets are spread across vast areas, three challenges would have to be met before implementing a CAM:

1. Is there an accurate inventory of the asset?
2. What is needed to continue operations with minimal downtime?
3. What are the real-time conditions and the life cycle of the asset?

The article also enumerates the benefits of having Centralized Asset Management:

• An accurate inventory will keep tabs on all assets, operations, and performance, the first step to effective asset management.
  
• A proactive asset management approach ensures consistent, reliable, and continuing infrastructure service and operation. The ability to track maintenance requests and updates on repair improves safety and timely responses, leading to long-term savings and extending the lifecycle of an asset.
  
• Integrated systems also provide real-time conditions of assets and problems like cracked pavements; potholes can be quickly detected and resolved through artificial intelligence. These real-time updates also allow asset managers to track irregularities and address them proactively while avoiding surprises in the future.

Finally, because infrastructure such as roads costs so high, proactive management through CAM ensures that they continue to provide an acceptable level of service, assets, and resources are inventoried accurately and properly maintained. At the same time, risks are identified before they become serious problems. 

Although investments to start an asset management system can be considerable, they offer a return on investment by extending an asset’s life and improving its performance.