Embrace smart asset management

Understanding insights from data can to transform the way you manage your assets. Digitalisation accelerates every year, and we can use technology to our advantage – making assets safer, more reliable, and more sustainable. Data has the power to reduce your organisation’s costs and save you time.

In this blog, I’ll show you how. I’ll look at six of the biggest challenges facing asset management in 2022 – and explain how you can use data to optimise your returns, and minimise your risks.

Simplifying the complex asset landscape

Why data is the answer to rapid growth in the public space

Public space is evolving faster than ever. Changes in mobility and energy, as well as the digitalisation of our economy, are all putting pressure on infrastructure. So it’s crucial that assets are optimised to be reliable, sustainable, and safe.

But this is the real world, and assets are often outdated – they’re not designed for today’s environment and intensive use. And, when we add all this together, it’s clear that decision making and future impact measurements about our public space have become incredibly complex.

To simplify things, we need to create one integrated and dynamic picture of our public space and assets. And by optimising and understanding data, we can do just that.

The importance of optimising data

Answering the six biggest challenges facing asset management today

Research by RoyalHaskoningDHV has already shown that Dutch management organisations don’t fully recognise the importance of their data – and how essential it is in optimising their processes.

But to use data in the most effective way possible, you first need to understand exactly what problems you are trying to solve. So, here are six of the biggest challenges facing your asset management in 2022:

1. Social pressure is forcing policy objectives to change
2. Governance and management of public spaces is directly impacting public experiences
3. Transparent decision making and integrated solutions are becoming increasingly vital to managing public space responsibly
4. The vast number of available data sources has led to an increase in technical and ethical complexity
5. Finances are stretched, calling for efficient and effective solutions
6. There’s a widespread shortage of technically-trained talent

I’m sure these challenges are all too familiar. And, given their diversity and magnitude, it’s hard to know how to start tackling them. My advice is to start small, and break up your transformation into manageable, value-adding steps.

Understand your data’s quality

The first step on the path to smarter asset management

Data is key to unlocking the value in your business. But many management organisations have told me they don’t have sufficient insight or confidence in the quality of their data processes. And consequently, they’re struggling to implement asset management that is truly data driven.

So, the first step to tackling the challenges facing your firm is to analyse the quality and maturity of the data within your business. You need to make sure you understand what data you currently have, to know how to optimise it for the future.

To this end, RoyalHaskoningDHV has developed ‘Quick Scan’, a web-based programme that analyses your assets to give you control of your management data. The analysis from Quick Scan has two main focuses:

1. Based on your management data, Quick Scan will identify any alignment or deviations from CROW’s National Information Model for Public Space Management (IMBOR) and our experience with asset management. Using this information, we’ll programme an integrated management plan designed to suit your specific circumstances.
   
   
2. Using your answers to a questionnaire – based on our experience with the iAMPro maturity scan and our Novius Data Management Scorecard – Quick Scan will analyse discrepancies to ascertain where your organisation currently stands regarding asset management.

Use data insights to grow

The value that understanding your data can add to your organisation

Quick Scan will provide you with the insight, and confidence, to make data-driven decisions to transform your asset management firm. You’ll gain visibility into the current performance of your business with diagrams, map visualisation, and accurate interpretation.

You’ll also benefit from advice specifically tailored to you – outlining how you can overcome discrepancies to improve the quality of your firm’s data and what you can do to accelerate your firm’s growth. And we’ll translate this into realistic and appropriate steps that you can take today.

Taking the first step towards data-driven asset management is as easy as it is important, and it lays the path for the entire journey. Start with an overview of your current position and future potential, then build a plan – identifying steps that will add the most value to your firm.

Using these data-driven insights can lead directly to lower lifecycle costs per asset and can transform programming. They provide the tools to achieve your climate objectives, prevent capital destruction, and, vitally, optimise the way you work.