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Managing Assets: When Going with the Flow Doesn't Save Money
Author(s) -
Baird Gregory M.
Publication year - 2011
Publication title -
journal ‐ american water works association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.466
H-Index - 74
eISSN - 1551-8833
pISSN - 0003-150X
DOI - 10.1002/j.1551-8833.2011.tb11526.x
Subject(s) - pace , plan (archaeology) , point (geometry) , asset (computer security) , benchmarking , asset management , computer science , risk analysis (engineering) , path (computing) , sustainability , road map , operations research , business , transport engineering , operations management , finance , computer security , economics , marketing , engineering , ecology , geometry , mathematics , archaeology , geodesy , cartography , biology , history , programming language , geography
This article makes an analogy between driving in heavy traffic and asset management, which, like driving, requires education, training, and testing. At some point every utility will need to get behind the wheel and start down a path toward sustainability and affordability. Comprehensive asset management is the long road that must be traveled to reach the desired destination. The good thing is that the road is paved and resources are available, so utilities can ask for help and directions. Benchmarking your current location will enable your utility to explain how far it has traveled and at what cost. Shortcuts and speeding may cause costly mistakes and waste time, but by using consistent, dedicated, and ongoing efforts and improvements, a utility can reach its destination safely. The article makes suggestions on how to map out the route, make adjustments as needed, and follow a plan at a manageable pace.