Asset Management

Today, more than ever, the maintenance of public infrastructures is one of the most important functions government agencies are performing. Public agencies have to monitor vast amounts of physical assets over a large geographic area. From installation to replacement, the condition of an asset throughout its lifecycle needs to be considered in a comprehensive management model in order to maximize the benefits of such assets to their customers and users.

Geographic Information Systems (GIS) has been proven to be the best method of Mapping, Monitoring, Modeling and managing large distributed infrastructure assets. GIS technology includes the analytical tools to perform "what if" analysis and dynamic segmentation to locate multiple classes of assets within a linear network. The right tools make it possible to operate, maintain, and upgrade physical assets cost-effectively. Today's environment of limited resources and growing demand means that decision-makers need the ability to weigh multiple scenarios balancing varying levels of investment against asset lifespan.

Sweeping changes are under way in the methods state and local governments must use to account for their assets. The Government Accounting Standard Board (GASB), which monitors financial reporting methods of public entities, has in its Statement No. 34 mandated that agencies receiving federal funding, such as transportation and transit departments, must increase accountability in financial reporting and provide additional information for more efficient decision making. Agencies must depreciate all capital assets including, for the first time, general infrastructure assets such as pavement and bridges.

BDS can assist in the complying with GASB No. 34 by developing an assessment management system (AMS). The objective of an ASM is to efficiently and cost-effectively maintain assets in a safe working condition. With advances in computer technology and specialized software, this goal is more attainable than ever before.

A computer-based ASM combines asset management, work management and Geographic Information System (GIS) features, enabling an "asset owner" to:

  • Electronically store, access and update data;
  • Schedule and track labor,
  • Equipment and material invested in that particular asset;
  • Examine asset locations and their linked data on digital maps.
  • Information that was once stored in multiple file cabinets, storage rooms and individuals' memories can now be consolidated - including photographs, maps and plans - in a single electronic database.

    A computer-based AMS offers a number of advantages :

  • It is an efficient tool that can by used by an owner to fulfill federal requirements to maintain accurate records of individual assets;
  • It can quantify and justify funding needs;
  • It can prioritize asset maintenance, repair and replacement; and
  • It can manage work histories.
  • An AMS puts all the data to each asset at one's fingertips, saving time and resources. It can be used to respond quickly to inquiries. If necessary, it can help defend against lawsuits, because it can be used to accurately record every change to a specific asset - the "what, when, why, where and how" that comprise each asset's history.

    BDS has been developing asset management and GIS programs for our clients. Our technical staff brings collective expertise in the following areas:

  • Asset Inventory and Infrastructure Management
  • Development and Application of GIS and AMS
  • Training and User Support
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    President
    Dr. Taoreed O. Badmus, P.E., CAPM, CIPS
    11325 Pegasus Street,
    Suite E-200
    Dallas, Texas 75238
    P: 214-747-2500   Ext. 202
    F: 214-747-2567
    tbadmus@bdstechnologies.com