Skip to main content

Introduction to Asset Management for Infrastructure

  • Chapter
  • First Online:
Asset Management Decision-Making For Infrastructure Systems

Abstract

Modern societies are built around and served by physical infrastructure networks, with the ultimate purpose of facilitating the wellbeing of individuals. Infrastructure plays a central role in our lives; it provides us with clean water, energy, and telecommunications; it allows us to travel; and it gives us the means to make food available. Well-managed infrastructure is vital to make nations competitive and has the potential to support social development and economic growth. This chapter explores the multifaceted aspects of the following: what is infrastructure, why it matters, how it contributes to the wellbeing of our communities, what are the challenges faced by organizations responsible for infrastructure assets, and which are the best practices and main phases that go through during the development and implementation of infrastructure asset management.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 49.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 64.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 89.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • AASHTO. (2013). AASHTO transportation asset management guide: A focus on implementation. U.S. Dept. of Transportation, Federal Highway Administration.

    Google Scholar 

  • Amador, L., Mohammadi, A., Abu-Samra, S., & Maghsoudi, R. (2020). Resilient storm pipes: a multi-stage decision support system. Structure and Infrastructure Engineering, 16(5), 847–859.

    Article  Google Scholar 

  • American Society of Civil Engineers (ASCE). (2017). 2017 report card for America’s infrastructure. http://www.infrastructurereportcard.org. 1 Sept 2020.

  • American Society of Civil Engineers (ASCE). (2021). The Journal of Infrastructure Systems (Aims & Scope). https://ascelibrary.org/. 1 Nov 2021.

  • Cambridge Dictionary. (2020). Online dictionary. https://dictionary.cambridge.org/dictionary/English. 1 Sept 2020.

  • Corporate Finance Institute (CFI). (2020). What is public infrastructure? https://corporatefinanceinstitute.com/resources/knowledge/economics/public-infrastructure/. 1 Sept 2020.

  • Davis, R. (2012). An introduction to asset management a simple but informative introduction to the management of physical assets. The Institute of Asset Management (IAM).

    Google Scholar 

  • Dawson, R. (2013). Bridges n’that: An infrastructure definition for iBUILD. www.ibuild.ac.uk. 1 Sept 2020.

  • Elsevier. (2020). International Journal of Critical Infrastructure Protection (IJCIP). https://www.journals.elsevier.com/international-journal-of-critical-infrastructure-protection. 1 Sept 2020.

  • Faghih-Imani, A., & Amador Jimenez, L. (2013). Towards a sustainable pavement management: Incorporation of environmental impacts of pavement treatments into a performance-based optimization. Transportation Research Record, Journal of the Transportation Research Board of the National Academies.

    Google Scholar 

  • Federal Highway Administration (FHWA). (2021). Asset management overview. U.S. Department of Transportation. https://www.fhwa.dot.gov. 1 Nov 2021.

  • Federation of Canadian Municipalities (FCM) and National Research Council (NRC) of Canada. (2005). The national guide to sustainable municipal infrastructure (InfraGuide): The seventh innovations and best practices, managing infrastructure assets (decision making and investment planning). FCM.

    Google Scholar 

  • FTA. (2010). Transit asset management practices: A national and international review. US Department of Transportation.

    Google Scholar 

  • Fulmer, J. (2009). What in the world is infrastructure? PEI Infrastructure Investor, 1(4), 30–32.

    Google Scholar 

  • Government of Canada. (2020). Critical infrastructure, Canada’s Critical Infrastructure. https://www.publicsafety.gc.ca/cnt/ntnl-scrt/crtcl-nfrstrctr/cci-iec-en.aspx. 1 Sept 2020.

  • Grafius, D. R., Varga, L., & Jude, S. (2020). Infrastructure interdependencies: Opportunities from complexity. Journal of Infrastructure Systems, 26(4), 04020036.

    Article  Google Scholar 

  • Hastings, N. A. J. (2015). Physical asset management: With an introduction to iso55000 (Second). Springer. https://doi.org/10.1007/978-3-319-14777-2

    Book  Google Scholar 

  • IPWEA. (2020). International infrastructure management manual. 6th Edition. https://www.ipwea.org/publications/ipweabookshop/iimm

  • Institute for Water Resources (IWR). (2013). Best practices in asset management. https://www.iwr.usace.army.mil/Portals/70/docs/iwrreports/2013-R-08_Best_Practices_in_Asset_Management.pdf

  • Institute of Asset Management (IAM). (2015). Asset management: An anatomy. https://theiam.org/. 1 Sept 2020.

  • Institute of Asset Management (IAM) and & British Standards Institution (BSI). (2008). Asset management: Guidelines for the application of PAS 55-1. Business Standards institution.

    Google Scholar 

  • ISO. (2014a). 55000 2014. Asset management. Overview, principles and terminology. International Organization for Standardization.

    Google Scholar 

  • ISO. (2014b). 55001 2014. Asset management — Management systems — Requirements. International Organization for Standardization, Geneva, Switzerland.

    Google Scholar 

  • ISO. (2014c). 55001 2014. Asset management — Management systems — Guidelines for the application of ISO 55001. International Organization for Standardization.

    Google Scholar 

  • Mohammadi, A., Amador-Jimenez, L., & Nasiri, F. (2017). Underground transit system management; new issues. In Canadian transportation research forum 52nd annual conference-Canadian transportation: 150 years of progress//Les transports au Canada: 150 ans de progrès-Winnipeg, Manitoba, 28–31 May 2017.

    Google Scholar 

  • Mohammadi, A., Elsaid, F., Amador-Jimenez, L., & Nasiri, F. (2019a). Optimizing transit maintenance and rehabilitation to support human development and sustainability: A case study of Costa Rica’s railroad network. International Journal of Sustainable Transportation, 1–14.

    Google Scholar 

  • Mohammadi, A., Amador-Jimenez, L., & Elsaid, F. (2019b). Simplified pavement performance modeling with only two-time series observations: A case study of Montreal Island. Journal of Transportation Engineering, Part B: Pavements, 145(4), 05019004.

    Google Scholar 

  • Mohammadi, A., Amador-Jimenez, L., & Nasiri, F. (2020). Reliable, effective, and sustainable urban railways: A model for optimal planning and asset management. Journal of Construction Engineering and Management, 146(6), 04020057.

    Article  Google Scholar 

  • NRC. (2001-2006). InfraGuide, Nationa Guide to sustainable municipal infrastructure. National Guide to Sustainable Municipal Infrastructure.

    Google Scholar 

  • Oxford English and Spanish Dictionary. (2020). online dictionary. https://www.lexico.com/. 1 Sept 2020.

  • Treasury, H. M. S. (2010). National infrastructure plan 2010. Infrastructure UK, UK Treasury Department (HM Treasury). https://www.gov.uk. 1 Sept 2020.

  • Treasury, H. M. S. (2013). Investing in Britain’s future, UK Treasury Department (HM Treasury). https://www.gov.uk. 1 Sept 2020.

  • United Nation (UN). (2016) (a). Transforming our world: The 2030 agenda for sustainable development. Retrieved from https://sustainabledevelopment.un.org/. 1 Sept 2020.

  • United Nations. (1994). Infrastructure development as key to economic growth and regional economic cooperation. Economic and Social Commission for Asia and the Pacific, United Nations, New York.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

Copyright information

© 2022 Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Mohammadi, A., Amador Jimenez, L. (2022). Introduction to Asset Management for Infrastructure. In: Asset Management Decision-Making For Infrastructure Systems. Springer, Cham. https://doi.org/10.1007/978-3-030-97614-9_1

Download citation

  • DOI: https://doi.org/10.1007/978-3-030-97614-9_1

  • Published:

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-97613-2

  • Online ISBN: 978-3-030-97614-9

  • eBook Packages: EngineeringEngineering (R0)

Publish with us

Policies and ethics