Austroads releases new Asset Management Guide

Austroads has released a new Asset Management Guide, highlighting the need for asset management processes to be integrated with other business functions such as finance, human resources, customer management and information technology.

Austroads’ Guide to Asset Management provides guidance to road managers on the application of contemporary ‘whole of organisation’ asset management practice to road networks.

While the term ‘asset management’ has a technical or maintenance meaning for many, there is greater recognition that a wider organisational approach is needed, a focus emphasised in the International Standard for Asset Management ISO 55001.

Asset management has continued to develop as decision-makers increase their focus on the value it can bring to an organisation, and as awareness increases of the importance of risk management.

Austroads said that the 2018 edition had been written with these principles in mind.  

“Technical asset management practice continues to improve through ongoing research; technical guidance is provided to assist agencies in the most efficient and effective monitoring of pavement performance.”

The new edition includes the impact of autonomous vehicles and digital infrastructure, measures to reduce the environmental impact of asset management and the recently developed practice of reliability centred maintenance.

It also documents the outcomes of Austroads’ research covering asset condition monitoring equipment, asset performance prediction models and practices that account for risk.

The guide is relevant to all those involved in the management of road infrastructure assets (including structures and non-pavement assets), and those seeking to learn more about the fundamental concepts, principles, issues and procedures.

The Guide was prepared by the Australian Road Research Board and the update project was managed by David Darwin, New Zealand Transport Agency on behalf of the Austroads Assets Task Force.

Read the Asset Management Guide here.

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