Our approach recognizes:
Asset information is required across many business functions.
The cost of data management is high, so it is important to focus on the collection, maintenance, updating and reporting of what is required, keeping in mind that information and technology deliver value to the extent they support needed decision-making.
Challenges with poor information quality or access to information lead to inefficient business processes.
Studies from critical infrastructure providers suggest that organizations can make significant savings through access to quality data. When data is managed poorly, the significant effort to connect information from different sources, to confirm its accuracy or to find information is inefficient – time consuming, costly and leads to inaccuracy.
Recognition of the need for more informed decision making and better asset management.
There is increased recognition that operational and information technologies now exist to inform decisions, reduce risks and improve performance. What is rapidly emerging is an increased awareness that we are managing two asset portfolios – one physical and one digital (a representation of the physical). It is essential that the digital representation (or digital twin) remains in sync with the physical asset construction.
WSP’s knowledge on asset management best practices and industry leading knowledge on digital services puts us in a unique position to support clients develop their digital strategies and build out their technology capabilities to analytics, operations and management action. Our Senior Advisors are also fully conversant with SMART assets and the opportunities and challenges they present in supporting high performing asset management practices.