In 2018, the Port Authority of New York and New Jersey (PANYNJ) started developing an enterprise asset management (EAM) to help them manage its diverse and complex group of critical assets that included 25 facilities run by five businesses. The Port Authority has managed, operated, and maintained its asset portfolio since 1921.
Applying an enterprise asset management program has allowed the PANYNJ to establish an agency-wide, standard-based approach to managing its infrastructure.
The GNC article, “How the Port Authority of New York and New Jersey expanded enterprise asset management“, explains how the PANYNJ made progress in developing its EAM and the challenges they encountered:
“The EAM program has expanded the agency’s previous focus on maintenance and operations to include a holistic approach designed to utilize lifecycle management best practices that provide a more prescriptive and objective method of managing complex infrastructure systems — from an enterprise perspective. The success of the EAM program is highly dependent on the collaboration among key agency stakeholders who have played, and continue to play, a critical role in the development of the asset hierarchy and the overarching policy and governance models that drive the program.”
“A foundational step in the EAM program was the development of an asset data specification, which provided standardization and governance of asset information across multiple business sectors with varied statutory and regulatory reporting requirements. The ADS was envisioned and developed collaboratively by staff in various departments across the agency, ensuring that critical business processes and data needs for asset lifecycle management were captured. The ADS is currently in use and has proved to be very effective in improving the overall quality of asset data while providing a high level of consistency in how the agency and its stakeholders collect, manage, access, analyze and visualize its infrastructure information.”
And regarding the challenges they encountered during the application of the EAM program:
“A major challenge was the diversity of stakeholders and end-users across the agency who worked in silos over the years. Another major challenge was the complexity of the asset portfolio as a result of the scale of the agency and the diversity of business lines.”
“To ensure early adoption and access to the ADS, the Port Authority EAM partnered with a consultant team to build the asset registry and information database (ARID), a digital resource supporting the development, coordination and publishing of the Authority’s ADS and hierarchy. Beginning in 2018, the Port Authority and its consultant partner established a new workflow that introduced semantical algorithms into the asset registry database, which examines all existing and new asset requirements.”
Adopting an asset registry and information database (ARID) has eliminated the use of spreadsheets and other web applications. The article notes that the asset data specification (ADS) has also reduced the complexity and confusion in using Microsoft Excel.
The Port Authority’s ARID has become the primary asset data requirement source. Stakeholders received training to ensure effective and efficient use of the program.
The Port Authority’s application of the enterprise asset management program has improved the management and operation of its vast portfolio of critical assets, ensuring minimal impact to existing business processes and reporting requirements.
Making the ADS application available online will allow all stakeholders better and efficient collaboration.
At the same time, the focus in utilizing a lifecycle management approach can guide investment strategies for maintenance and capital improvement of assets to maximize their value and align with customer expectations and organizational objectives.