Asset Management is becoming increasingly important for highways authorities with changes in contract models and for local authorities, the incentivised funding framework.
A sound asset-led approach drives good investment decisions and efficiencies. Authorities are being challenged to radically rethink asset management techniques, drawing on innovative collaborative arrangements to unlock process savings, and focussing on management approaches, rather than merely reducing maintenance regimes.
Socio-Economic Benefits
A discussion paper on the economic benefits of asset management has been published by the group which proposes a thought-provoking suggestion that the identification and prioritisation of highway maintenance should be done on a socio-economic assessment to reflect the true benefits of maintaining the infrastructure instead of being limited to just a formulaic process based on condition.
The Asset Mangement working group is exploring the development of a online gully reporting tool and guidance document on maximising benefits through better use of data. The impact that driverless cars will have on road maintanance is also being looked at, potentially as a joint project involving other working groups.
The group has several affiliations with other industry bodies and working groups through the working group members’ attendance at meetings, and continues to share knowledge and information for the benefit of the industry.