Before revision: Essential processes and activities for infrastructure asset management include the following: Maintaining a systematic record of individual assets (an inventory)—e.g., acquisition cost, original service life, remaining useful life, physical condition, repair and maintenance consistency Developing a defined program for sustaining the aggregate body of assets through deterioration modeling, planned maintenance, repair, and replacement Implementing and managing information systems in support of these systems—e.g., Geographic Information Systems Calculating life-cycle cost of assets and possible sources of finance for maintenance actions These processes and activities are interrelated and interdependent aspects that usually cross organizational boundaries including finance, engineering, and operations.
After revision: Defining current and expected levels of service and linking them to maintenance and capital planningEssential processes and activities for infrastructure asset management include the following: Maintaining a systematic record of individual assets (an inventory)—e.g., acquisition cost, original service life, remaining useful life, physical condition, repair and maintenance consistency Developing a defined program for sustaining the aggregate body of assets through deterioration modeling, planned maintenance, repair, and replacement Implementing and managing information systems in support of these systems—e.g., Geographic Information Systems Calculating life-cycle cost of assets and possible sources of finance for maintenance actions These processes and activities are interrelated and interdependent aspects that usually cross organizational boundaries including finance, engineering, and operations.