Asset Lifecycle, Somerset Regional Council

Abstract

This presentation will explore a practical overview of the asset lifestyle from acquisition to disposal, with a focus on the different people who are involved over this time and how their decisions can impact on the management of infrastructure assets. The complexity of the above statement only really becomes apparent when you spend time considering it. Tying back to the asset lifecycle as defined in ISO55001 we will explore the players who define and retire our service needs which ultimately determines the asset’s lifecycle – from the “good idea fairy” to the “activists”, “bean counters” to “baby kissers”. How much influence do each of these stakeholders have on the asset form and lifecycle? How much of this is influence is based on bias, ignorance or trends? Can we / should we influence these stakeholders and if so, what is our own bias? This presentation seeks to encourage participants to think beyond their own part of the asset lifecycle equation and positively engage with other influencers to improve the overall outcome for the community.