Distinct from other companies, our asset management services approach is not an impossible one-size-fits-all method. We realize that every entity is at a different level of program effort. For those just beginning to address asset management, our efforts are targeted towards an appropriate, affordable program that can be phased in over time. For more advanced programs, We can develop the needed value-added tools and program features that supplement an existing asset information system.
A typical utility has millions of dollars invested in its infrastructure. These assets have a huge value and constitute most of the net worth of a public agency. However, the upkeep and replacement of these assets is a chronic funding issue that is routinely overlooked. Asset management, now moving to the forefront of U.S. utilities, impacts every aspect of the utility—its employees, equipment, customers, IT systems, financing and regulatory issues.
Asset management is a process that involves strategically assessing and addressing all aspects of the lifecycle costs of infrastructure, from the planning, financing and initial capital investment to ongoing maintenance, rehabilitation and replacement. Asset management is a way of thinking, a structured system of activities that allows utility managers to identify, justify and cost-effectively realize the needed maintenance, rehabilitation and replacement of utility assets. Utility managers are finding that asset management is a tremendous opportunity to sell decision-makers on needed infrastructure funding that can save ratepayers millions of dollars through effective maintenance programs and savvy capital investment decisions.