Public asset management
Encyclopedia
Public asset management expands the definition of Enterprise Asset Management
(EAM) by incorporating the management of all things which are of value to a municipal jurisdiction
and its citizens' expectations.
An EAM requires an asset registry (inventory of assets and their attributes) combined with a Computerized Maintenance Management System
. All public assets are interconnected and share proximity, and this connectivity is possible through the use of GIS.
GIS-centric public asset management standardizes data and allows interoperability, providing users the capability to reuse, coordinate, and share information in an efficient and effective manner by making the GIS geo-database the asset registry. A GIS-centric public asset management which standardizes data and allows interoperability
, providing users the capability to reuse, coordinate, and share information in an efficient and effective manner.
In the United States the defacto GIS standard is the Esri
GIS for utilities and municipalities. An Esri GIS platform combined with the overall public asset management umbrella of both physical “hard” assets and “soft” assets helps remove the traditional silos of structured municipal functions. While the hard asset
s are the typical physical assets or infrastructure assets, the soft assets of a municipality includes permits, license, code enforcement, right-of-ways and other land-focused work activities.
This definition of “public asset management” was coined and defined by Brian L. Haslam, President and CEO of a leading international GIS-centric Computerized Maintenance Management System (CMMS) company which software is certified by the National Association of GIS-Centric Solutions (NAGCS). GIS-centric public asset management is a system design approach for managing public assets that leverages the investment
local governments continue to make in GIS and provides a common framework for sharing useful data from disparate systems. Permits, licenses, code enforcement, right-of-way, and other land-focused work activities are examples of land-focused public assets managed by local government
. These public assets occupy location just as in-the-ground or above-ground public assets do.
Land-use development and planning is another area which is interconnected to other local government assets and work activities. Public Asset Management is the term that encompasses this subset of land-focused asset management, considering the importance that public assets affect other public assets and work activities and are important sources of revenue
and are various points of citizen interaction.
Enterprise Asset Management
Enterprise asset management means the whole life optimal management of the physical assets of an organization to maximize value. It covers such things as the design, construction, commissioning, operations, maintenance and decommissioning/replacement of plant, equipment and facilities...
(EAM) by incorporating the management of all things which are of value to a municipal jurisdiction
Jurisdiction
Jurisdiction is the practical authority granted to a formally constituted legal body or to a political leader to deal with and make pronouncements on legal matters and, by implication, to administer justice within a defined area of responsibility...
and its citizens' expectations.
An EAM requires an asset registry (inventory of assets and their attributes) combined with a Computerized Maintenance Management System
Computerized Maintenance Management System
Computerized maintenance management system is also known as enterprise asset management and computerized maintenance management information system ....
. All public assets are interconnected and share proximity, and this connectivity is possible through the use of GIS.
GIS-centric public asset management standardizes data and allows interoperability, providing users the capability to reuse, coordinate, and share information in an efficient and effective manner by making the GIS geo-database the asset registry. A GIS-centric public asset management which standardizes data and allows interoperability
Interoperability
Interoperability is a property referring to the ability of diverse systems and organizations to work together . The term is often used in a technical systems engineering sense, or alternatively in a broad sense, taking into account social, political, and organizational factors that impact system to...
, providing users the capability to reuse, coordinate, and share information in an efficient and effective manner.
In the United States the defacto GIS standard is the Esri
ESRI
Esri is a software development and services company providing Geographic Information System software and geodatabase management applications. The headquarters of Esri is in Redlands, California....
GIS for utilities and municipalities. An Esri GIS platform combined with the overall public asset management umbrella of both physical “hard” assets and “soft” assets helps remove the traditional silos of structured municipal functions. While the hard asset
Hard asset
Hard Assets are investments with intrinsic value such as oil, natural gas, gold, farmland,natural colored diamonds and commercial real estate. Typically hard assets are an excellent inflation hedge. In general, commodities/hard assets are negatively correlated to both stocks and bonds. In other...
s are the typical physical assets or infrastructure assets, the soft assets of a municipality includes permits, license, code enforcement, right-of-ways and other land-focused work activities.
This definition of “public asset management” was coined and defined by Brian L. Haslam, President and CEO of a leading international GIS-centric Computerized Maintenance Management System (CMMS) company which software is certified by the National Association of GIS-Centric Solutions (NAGCS). GIS-centric public asset management is a system design approach for managing public assets that leverages the investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
local governments continue to make in GIS and provides a common framework for sharing useful data from disparate systems. Permits, licenses, code enforcement, right-of-way, and other land-focused work activities are examples of land-focused public assets managed by local government
Local government
Local government refers collectively to administrative authorities over areas that are smaller than a state.The term is used to contrast with offices at nation-state level, which are referred to as the central government, national government, or federal government...
. These public assets occupy location just as in-the-ground or above-ground public assets do.
Land-use development and planning is another area which is interconnected to other local government assets and work activities. Public Asset Management is the term that encompasses this subset of land-focused asset management, considering the importance that public assets affect other public assets and work activities and are important sources of revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
and are various points of citizen interaction.
- American Water Works AssociationAmerican Water Works AssociationAmerican Water Works Association was established as an international non-profit professional organization dedicated to the improvement of water quality and supply. Founded in 1881, it claims a membership of around 56,000 members worldwide as of 2010.AWWA has become the largest organization of...
AWWA - National Association of GIS-Centric Solutions NAGCS