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An Integrated Approach to Strategic Asset Management

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Part of the book series: Topics in Safety, Risk, Reliability and Quality ((TSRQ,volume 24))

Abstract

This chapter focuses on identifying and analysing the elements of Strategic Management for infrastructure and engineering assets and asks: what are the considerations and implications for adopting and implementing an integrated strategic asset management framework? We contend that corporate governance, policy, objectives and strategy as well as interagency collaboration should be considered as elements in a ‘staged approach’ to understanding how assets are managed within organisations. This will allow for a more comprehensive framework for engineering asset management that considers social and contextual elements. Asset governance details the policies and processes needed to acquire, utilise, maintain and account for an organisation’s assets. It stems from corporate governance principles and defines the management context in which engineering asset management is implemented. This will be examined to determine the appropriate relationship between organisational strategic management and strategic asset management to further the theoretical engagement with the maturity of strategy, policy and governance for infrastructure and engineered assets. The chapter draws on a document analysis of corporate reports and policy recommendations in terms of infrastructure and engineered assets. The chapter concludes that incorporating an integrated asset management framework can promote a more robust conceptualisation of public assets and how they combine to provide a comprehensive system of service outcomes.

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Acknowledgments

This work was developed within the CRC for Infrastructure and Engineering Asset Management, established and supported under the Australian Government’s Cooperative Research Centres Programme. This paper is produced in collaboration with the Australian Asset Management Collaborative Group (AAMCoG).

Author information

Authors and Affiliations

  1. School of Tourism and Hospitality Management, Southern Cross University, School of Business, Gold Coast Campus, Locked Mail Bag 4, Coolangatta, Gold Coast, QLD, 4225, Australia

    Kerry Brown, Muhammad Nateque Mahmood & Pascal Scherrer

  2. Cooperative Research Centre for Infrastructure and Engineering Asset Management (CIEAM), Level 7, O Block, QUT Gardens Point campus, 2 George Street, Brisbane, QLD, 4000, Australia

    Martin Laue & Muhammad Nateque Mahmood

  3. Department of Industrial Engineering and Business Administration, Universidad Politecnica de Madrid, Av Ramiro de Maeztu, 7, 28040, Madrid, Spain

    Javier Tafur

  4. School of Business, Southern Cross University, Gold Coast Campus, Locked Bag 4, Coolangatta, Gold Coast, QLD, 4225, Australia

    Robyn Keast

Authors
  1. Kerry Brown
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  2. Martin Laue
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  3. Javier Tafur
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  4. Muhammad Nateque Mahmood
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  5. Pascal Scherrer
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  6. Robyn Keast
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Corresponding author

Correspondence to Kerry Brown .

Editor information

Editors and Affiliations

  1. Engineering Mngmt & Systems Engineering, Old Dominion University, Norfolk, Virginia, USA

    Adrian V. Gheorghe

  2. Institute for the Protection and Security of the Citizen, Joint Research Center, Petten, The Netherlands

    Marcelo Masera

  3. Engineering Management and Systems Eng., Old Dominion University, Norfolk, Virginia, USA

    Polinpapilinho F. Katina

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Brown, K., Laue, M., Tafur, J., Mahmood, M.N., Scherrer, P., Keast, R. (2014). An Integrated Approach to Strategic Asset Management. In: Gheorghe, A., Masera, M., Katina, P. (eds) Infranomics. Topics in Safety, Risk, Reliability and Quality, vol 24. Springer, Cham. https://doi.org/10.1007/978-3-319-02493-6_5

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  • DOI: https://doi.org/10.1007/978-3-319-02493-6_5

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-02492-9

  • Online ISBN: 978-3-319-02493-6

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