5 Steps to an Asset Management Solution
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You know you need it but don’t know where to begin. Asset Management Solution (AMS) has turned into a buzzword that you hear all the time and think you know what it is, but you are never 100% sure you know exactly.
According to the ISO 55000, the international standard for asset management, an asset is an item, thing, or entity that has potential or actual value for an organization. Assets are roads, bridges, tools, pencils, software, and a myriad of other things. These items will either depreciate or appreciate over their lifetime. Knowing when to update, repair, or replace an asset, or tracking where it is or who is using it, can provide significant value to your business in terms of costs and risk reduction. Efficiently managing the asset during its lifetime for the benefit of the organization is the essence of the practice of Enterprise Asset Management (EAM). Included with EAM are the technology solutions that support the EAM program or AMS.
Traditionally, asset management has been accomplished using excel spreadsheets and other documents with no common connection to bring these spatially disparate items together into a cohesive, synergistic system. In the late 1990s and early 2000s, a boom of forms-driven technology solutions brought specific asset data into a common picture, but with little to no location information. Agencies also used several of these technology solutions or AMS to manage different classes of assets throughout the agency.
Today we have a proliferation of location data. Everything has locational data that can be identified thanks to the many tools in use – GPS, sensor data, DMIs, UAVs, and more. We can map assets using geographic information systems (GIS). With location as a common denominator, service requests, replacement dates, costs, condition assessments, and much more can be connected in an integrated AMS – no more disconnected systems and static, out-of-date spreadsheets!
So how can you get this holy grail for your organization– this solution that magically gives you a single, visually understandable picture of all your assets? How do I begin?
You can implement an AMS at any level of an organization at any size following a few key steps. Technology trends are making it easier for any organization to begin this process, no matter its size or operating budget.
STEP 1 - Get commitment from the top down.
It will take time and resources to map and implement your final solution. Make sure the folks at the top see the value and support you. Ultimately, you will streamline business processes, decrease mistakes and time spent on activities, and see savings. You will also want to look for champions within your organization. These champions can provide feedback during the deployment phase; they should have key roles in the collection, quality control, or use of the AMS.
STEP 2 – Identify your assets.
Identifying your assets is the most time-consuming step. Not all assets are created equal. Asset identifiers will need to be standardized, and every asset will need to be added to the database with appropriate spatial accuracy. We highly recommend you hire a professional skilled in this work as this is the basis of your AMS. The adage – garbage in garbage out – will be true for your database if it is not created accurately. GeoDecisions has done this work for hundreds of organizations. Feel free to contact us if you would like our help info@geodecisions.com.
STEP 3 - Integrate a solution that matches your organizational needs.
You should look at a range of solutions that are now available for AMS before deciding on the right one for you. Determine your long-range strategy for implementation concerning cost, IT infrastructure and support, training, integrations, and value-added implementations. GeoDecisions can assist your organization with your strategic plan and help you decide which AMS is best for you. We are an independent vendor valuator (IVV) that can help identify the best solution for your organization. We are also proven implementers of several AMS on the market.
Here are solutions with which we have experience:
Cityworks
Cityworks is an AMS designed for local governments and utilities to plan, manage, and assess public infrastructure assets effectively. The platform enables the integration of inspections, maintenance activities, inventory management, and permitting within a configurable software package built on Esri’s® ArcGIS® technology.
GeoPlan
GeoPlan® is GeoDecisions AMS designed primarily for the collaboration and asset management needs of local governments. Integrated with Esri ArcGIS technology, GeoPlan takes advantage of your Esri investment. By combining departmental data from planning, utilities, public works, and others, GeoPlan allows you to visualize your data in a shared location to simplify workflows in the office or on the go.
AgileAssets
The big differentiator with AgileAssets is its focus on the transportation sector. AgileAssets is a leading global provider of enterprise infrastructure asset management software for government and private organizations, with expertise in state-level transportation agencies.
VUEWorks
VUEWorks® software is a web-enabled integrated GIS EAM. VUEWorks was designed for state and local governments, utilities, corporations, schools, and theme parks.
Maximo and Infor EAM
Maximo and Infor EAM are two more AMS providers. The list goes on.
STEP 4 - Modify and extend your solution.
Many AMS implementations can be enhanced by integrating or extending them. Here is a list of some of the modifications and extensions we have completed for clients to get you thinking about what you might want to do with your AMS.
Mobile Survey App – Add a workforce management and collection tool to identify, locate, and assess the condition of assets.
Track – Add a SaaS solution that gives you the ability to track, analyze, and report on assets such as transportation fleets and sensors in real time.
Notify – Add a high-speed alert notification system designed to deliver location-based voice, text, and email messages within minutes.
Widgets – Add already built or extend widgets, or create ones tailored to your needs using Esri’s Web AppBuilder, Esri’s Experience Builder, JavaScript, or other programs.
Custom Interfaces – Create interfaces with Building Information Models (BIM), Esri Indoors, Esri’s ArcGIS Urban, Esri ArcGIS Utility Network, vendor management systems, credit card systems, and more.
Step 5: Monitor and adjust your deployment solutions.
Dashboards and custom reporting can be set to track the workflow and data of an AMS. The data of the dashboards help determine if the AMS implementation is meeting the organization's expected goals for cost, security, risk, or customer service. Updating your strategic plan and adjusting the deployment strategies with changing technology will help you keep the AMS on track, thus driving home the goals of your overarching EAM program.
Let us know if you have any questions about EAM programs and the AMS that support them – chat below or contact us at info@geodecisions.com. We welcome the discussion.
