How is asset management different from maintenance management?
What is the best way to get it done? What are outside benefits? These and other questions answered. By Jim Thorne, P.E. Columnist, Public Works Online I have heard and thought about this term “asset management” for a while since hearing it is the new thing in public works. I struggled a bit trying to define and put in my own words what this asset management thing did. I understood asset (I think). It’s a physical, touchable thing that has value. It is something useful. In the finance world it may be viewed as something that can be converted into cash. Defining what the management aspect included got lost among some abstract concepts floating around in my head. What is managing an asset? I looked up “manage” in the dictionary thinking that would clarify the definition and found a few choices: • To bring about, succeed in accomplishing. • To have charge of, or responsibility for. • To dominate or influence. • To handle, direct, govern, or control in action or use. • To wield (a weapon, t
