Implementation activity

Define service levels

Annual customer surveys, stakeholder interviews

Learn about risks

Tracking and tagging of most critical assets by probability or failure/consequence analysis; lower risks by rehabilitation, operations and maintenance

Focus on life cycle costs

Assess life-cycle costs and benefits of each planned project/investment

Use triple bottom line

Prioritize projects/investments based on societal, economic and environmental impacts

Optimize data and data systems

Inventory of technical characteristics, age, location, maintenance history, condition and current value of each asset component

Create strategic asset management plans

Description of current condition of asset components, and operations, maintenance and rehabilitation strategies; risk management plans for operational and economic risks

Clarify roles and responsibilities

Define work team and individual responsibilities, responsibility areas and decision-making authorities

Make large investment decisions via asset management committee

Meets once a week, analyses and finances large investments (>EUR 200,000.00), ensures that decisions are based on life-cycle cost and triple bottom line principles, approves project plans, decides customer service and environmental standards