Investment in these assets is made with the intention that dividends will accrue through increased productivity, improved living conditions and greater prosperity.In the past these assets have typically been owned and managed by local or central government.Management of this objective is the focus of Asset Management Plans. A well-defined Standard of service (SoS) is the foundation of Infrastructure Asset Management.
Changes to the SoS are usually managed as a programme based on strategic objectives regarding the asset portfolio.
Change SoS (Capacity Expansion): to make strategic changes and improvements to the standard of service of the asset portfolio through the creation, acquisition, improvement and disposal of assets. The SoS states, in objective and measurable terms, how an asset will perform, including a suitable minimum condition grade in line with the impact of asset failure.Infrastructure Asset Management is the discipline of managing infrastructure assets that underpin an economy, such as roading, water supply, wastewater, stormwater, power supply, flood management, recreational and other assets.
Viewed functionally, infrastructure facilitates the production of goods and services; for example, roads enable the transport of raw materials to a factory, and also for the distribution of finished products to markets.
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