The Asset Management Story

Our story!

This is the story of four decades of development of Asset Management. The first volume is being written by Dr Penny Burns and the following three volumes are to be written by, and about, the leading players in each decade.

We are posting Volume 1, one chapter each fortnight. As you read, you will no doubt recall many of the interesting anecdotes from your own introduction and development of asset management. Information will be coming later in the year about how you may contribute your experience to future volumes.

Volume 1. 1984 -1993
“Asset Management as a Quest”
by Dr Penny Burns

Part One: The Engineering and Water Supply Department, SA, years. (April 1984 to February 1985)

How Asset Management started as a simple inquiry into the real cost of water and sewer services – and the realisation that we didn’t have enough information to provide the answer. When we did, the next question we asked was ‘What will be the cost and the likely timing of renewing all of our existing water infrastructure’? Part One tells the story of how answering these questions provided a basic asset management template.

Part Two: The Public Accounts Committee Years (February 1985 to April 1987)

How the Public Accounts Committee took the water template and applied it across the board to all major state infrastructure in South Australia, seeking to understand the magnitude of the renewal problem for the State – and how we would manage it. This resulted in 8 reports to Parliament. The last and summary report with the Committee’s recommendations, became, in effect, the first set of Asset Management guidelines, with examples, including the first assessment of current replacement values for all major state infrastructure agencies.

  • Chapter Five – Asset Management Widens its scope
  • Chapter Six – How to Contain Costs, Asset Management Proper Begins

More to come – keep watching! One chapter per fortnight – and start thinking about your stories!