Guide to Creating Your First Asset Management Plan
Creating a plan is your first step towards building an effective asset management system
Aging infrastructure and the looming retirement of up to one-third of the water and wastewater professional workforce are critical reasons why asset management matters. Implementing an asset management plan can improve operational transparency and efficiency. Proactive maintenance can increase the lifespan of some assets, directing CapEx dollars and labor towards urgent needs instead to reduce costly disruptions in service.
The benefits of creating an asset management plan include:
- Reducing downtime of critical assets
- Promoting collaboration across your organization
- Reducing asset maintenance costs
- Managing knowledge transfers
- Improving accountability and planning