Asset Management – Overview
Assets are generally the most expensive components that a community can own, operate, maintain and replace. Making the right choice about how to manage a community’s assets is key to being able to sustain the assets over time. One of the best tools to help a community manage its assets is called, Asset Management. It helps answer the questions of what should we do, how should we do it, when should we do it, and where is the best place to make an investment in our assets.
Asset Management is a proven method whose techniques have been refined by the international community, particularly in Australia and New Zealand. It has now been practiced overseas for well over 15 years and has been gaining popularity across the US for the last decade. The Southwest EFC (formerly the NM EFC) began working with Asset Management in 2003. In 2006, at the request of EPA, the SW EFC director traveled to New Zealand and Australia to study Asset Management in order to develop an approach that would work in the US, particularly for smaller sized utilities. Since that time, we have developed training materials, conducted numerous trainings, and have provided one on one asset management assistance for systems from the very small to the very large.
- Asset Inventory
- Level of Service
- Critical Asset Assessment
- Life Cycle Costing
- Long-term Funding Strategy
The Southwest Environmental Finance Center (formerly the New Mexico Environmental Finance Center) developed the A.M.Kan Work! interactive guide to Asset Management and Energy Efficiency. This guide was sponsored by the Kansas Department of Public Health and the Environment (KDPHE) who has generously allowed us to make it available to anyone. It is available in hardcopy form (which includes DVDs) and just as DVDs at the cost of production. Please contact the Southwest EFC (see contact us page) if you are interested in obtaining a copy. This Asset Management tool is the result of two years of extensive research and includes video interviews with eighteen water and wastewater systems across the United States, as well as an international asset management practitioner. This manual is intended to guide small to medium sized water and wastewater systems through the process of Asset Management and addresses core issues of water and wastewater sustainability. Asset Management allows utilities to provide a sustained level of service at the lowest and most appropriate life cycle cost. Water and wastewater utility owners, operators, managers, and board members will find that this guidebook contains useful tools for assessing the current status of their operations and for developing strategic plans for sustainable water and wastewater service. The manual also introduces the Asset Management IQ test, a tool for assessing your knowledge and progress in the Asset Management process. A pdf file of the A.M. IQ can be downloaded or the tool is available in an interactive on-line version. Please click the link below to access the interactive version or to print the pdf version. You may also visit our AM IQ web page for additional information.
You can access the Interactive Asset Management IQ test only by clicking HERE