Challenges for Asset Management - Dr Penny Burns

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Accounting Challenges Activity based costing– Few can say how much any activity, any service, iscosting. Without this it is not possible to make soundservice decisions – and hence sound assetmanagement decisions(Strategic Asset Management # 111, April 4 2003) Commitment budgeting– Short term financial planning requires more thansimply knowing what expenses have been accrued, itmeans knowing what have not yet been accrued, buthave been committed
Costing Challenges Valuation– Despite much attention, some basic issues still needresolution – e.g. not merely the cost but also the valueof community obligations, the extent to whichreplacement costs builds in inefficiencies, etc– Estimation of value from broad 1-5 condition scales isstill a hit and miss business Depreciation– We need depreciation measures that recognise the fasterdegradation that occurs when maintenance isinadequate
Page 1 and 2: Challenges for AssetManagement An e
Page 3 and 4: Yesterday Emphasis on individual as
Page 5 and 6: Yesterday We considered design and
Page 7 and 8: Yesterday Finance was by government
Page 9 and 10: So, today we are SYSTEMIC and SYSTE
Page 11 and 12: Integration Challenges Integrating
Page 13 and 14: Analytic Challenges Improving data
Page 15: Conceptual Challenges Clarifying ob
Page 19 and 20: Collaborative Practical Research Th

Challenges for Asset Management - Dr Penny Burns

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