Asset Management involves the balancing of costs, opportunities and risks against the desired performance of assets, to achieve the organizational objectives. This balancing might need to be considered over different timeframes.
Asset management also enables an organization to examine the need for, and performance of, assets and asset systems at different levels. Additionally, it enables the application of analytical approaches towards managing an asset over the different stages of its life cycle (which can start with the conception of the need for the asset, through to its disposal, and includes the managing of any potential post disposal liabilities).
Many public services rely on assets to support their delivery. Unless the assets are well managed, the services they support will suffer. Unfortunately, assets are often taken for granted until they fail. A failed asset can have both social and economic effects on the country. To avoid this, someone has to be actively managing assets – they cannot be taken for granted by everyone.
Asset Management is the art and science of making the right decisions and optimizing the delivery of value. Asset management needs to be a planned approach that is integrated with other planning, that relies on good quality data and incorporates lifecycle strategies of assets. DCG has mastered this skill by providing assessments and capacities for property management in the City of Novi Sad. Our experts used their knowledge to train city administration staff in the basic principles of property management, tools and techniques such as establishing a property management database.