Asset Management

WSP plays a leading role in the development and growth of asset management practices around the globe. Our leadership is defined through contributions to best practice development, including ISO-55001:2014, the recently published international standard for asset management, as well as the U.S. Federal Transit Administration Asset Management Guide.

Our team understands the challenges that our public and private clients face in managing aging assets, with higher demands for service, increasing competition for financial and other resources and increasingly complex performance requirements. We work with organizations to ensure that real value is extracted from their assets across the entire lifecycle. Our asset management services consist of three focus areas:

Organization

We help organizations improve their asset management capability, including training, transformation program management, organization improvement, business strategy, business process improvement and services related to assessment, audit and certification against ISO-55001:2014.

Technology

We provide organizations with the tools and information they need to support lifecycle management and decision-making, including design, procurement, integration of enterprise solutions, configuration of software applications and the design of asset information requirements across the lifecycle.

Asset

We help organizations improve decision outcomes, including asset inventory and condition assessments, criticality and risk reviews, resiliency and vulnerability assessments, lifecycle cost analysis, maintenance advisory, capital and operational planning and asset management plans.

DEVELOPING BENCHMARK DATA TO GUIDE STRATEGIC CHANGE

WSP has developed an industry-leading Asset Management Capability Assessment Model (am2c) that draws upon over 20 years of experience in managing critical infrastructure. Our model is mapped to global standards, industry best practices and national industry legislative requirements.

The model is used to assess an organization’s asset management maturity—which measures the degree of formality and optimization of processes and practices from ad hoc, to formally defined steps, to managed results, to active optimization. The output is used to evaluate and benchmark an organization, and support the development of an asset management improvement program. The structure and approach ensure consistent and repeatable assessment and provide access to a significant global benchmark pool.

Delivering savings with asset management technology applications

— Ensure systems are procured to meet business requirements
— Develop organization-wide technology strategies
— Provide guidance on implementation and support information frameworks

Training staff to build success from within, based on our successful Principles in Asset Management Training Program

— Strategic, tactical and operational asset management subjects
— Aligned to industry best practices
— Designed to deliver change in an organization’s performance

Supporting capital investment, maintenance and resource planning

— Define the necessary asset strategies to manage risks
— Deliver the required performance efficiently
— Work closely with key stakeholders to ensure strategies consider the current challenges with operations, management and delivery of the assets

Promoting the asset management discipline

— WSP is a patron of the Institute of Asset Management in the US

In addition, our experts include authors of and key contributors to international guidelines and best practice development, including:
— International Standard for Asset Management Systems ISO 55001:2014
— Federal Transit Administration’s Transit Asset Management Guide
— Federal Highways Administration’s Asset Management Guide
— National Cooperative Highway Research Program’s guidance on ancillary assets
— Airport Cooperative Research Program’s guide to airport asset management
— International Infrastructure Management Manual