Doing asset management well means:
- having the right processes for investment planning and prioritisation
- making the right trade-offs between maintenance and capital expenditure
- being able to successfully balance the costs of providing the service against the risks to loss of service.
Two approaches to optimisation are described in this section:
- making trade-offs across the three dimensions of service, risk and cost
- a framework which ‘values’ the relative benefits that different solutions offer.