{"id":6352,"date":"2024-11-19T23:48:55","date_gmt":"2024-11-19T22:48:55","guid":{"rendered":"https:\/\/www.systra.com\/australia\/?post_type=expert_insights&p=6352"},"modified":"2024-11-20T04:58:25","modified_gmt":"2024-11-20T03:58:25","slug":"a-systems-focused-approach-to-modern-asset-management","status":"publish","type":"expert_insights","link":"https:\/\/www.systra.com\/australia\/expert_insights\/a-systems-focused-approach-to-modern-asset-management\/","title":{"rendered":"A systems focused approach to Modern Asset Management\u00a0"},"content":{"rendered":"\n

Asset Management is the coordinated activity of an organisation to realise value from assets, present and future. In this circumstance, SYSTRA sees value as a combination of financial, performance, societal, and other organisational goals. <\/strong><\/p>\n\n\n\n

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Effective Asset Management<\/a> for infrastructure is challenging. From bridges<\/a>, roads<\/a> and tunnel<\/a>s to the systems and sub-systems that form the backbone of our cities, there are millions of assets all requiring tailored and strategic planning to ensure they achieve maximum value. In some cases, asset management may even need to account for secondary purposes. For example, the Sydney Harbour Bridge\u2019s asset management strategy needs to address its role as an Australian icon as well its vital role in the transport network. \u00a0<\/p>\n\n\n\n

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Within this dynamic is an equally complex network of stakeholders. From owners, to operators, to the community and more, each stakeholder may perceive value in their own way, creating further challenges for Asset Managers to balance and overcome.  <\/p>\n\n\n\n

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Could you imagine rebuilding our most iconic structures?  <\/h2>\n\n\n\n
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Picture Sydney Harbour. Now picture a scene where we have to rebuild the Harbour Bridge and Opera House. The cost, the image, the time, the flow on effect to the tourism industry and more. The implications would be enormous.  <\/p>\n\n\n\n

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An effective asset management strategy helps prolong the lifetime value of an asset to ideally avoid this scenario altogether, or at worst minimise the impact of it so that operations remain as seamless as possible.  <\/p>\n\n\n\n

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While some assets like the Harbour Bridge are meticulously managed, others can be neglected. Trying to manage the millions of assets that comprise a city as meticulously as the Harbour Bridge is not possible. Over-servicing costs quickly compound over time, and that diverts investment away from other opportunities. Eventually a neglected asset approaches its end-of-life far quicker than was intended, meaning it needs to be replaced, decommissioned, or repurposed. The result is likely to be far more expensive than if the asset had been maintained to an appropriate level in the first place. <\/p>\n\n\n\n

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Effective Asset Management means coordinating a balanced approach to realise value, achieve goals, and optimise the asset\u2019s life. In today\u2019s landscape where cost and sustainability must be managed with precision, we cannot simply replace roads, tunnels, and bridges if their full value potential \u2013 which is inclusive of their future roles – remain largely untapped or overlooked.  <\/p>\n\n\n\n

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Bringing People, Process and Systems Together <\/h2>\n\n\n\n
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Effective Asset Management has strong parallels with systems engineering<\/a>. Systems engineering brings People, Process and of course Systems together to create resilient, integrated and efficient assets that fulfil an intended purpose.  <\/p>\n\n\n\n

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In this context: <\/p>\n\n\n\n