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Implementing airport strategic asset management for short-term gains and long-term benefits
Journal of Airport Management,
14
(1),
25-37
(2019)
Abstract
The International Organisation for Standardisation (ISO) defines asset management as the coordinated activity of an organisation to realise value from assets. This simple and elegant definition might lead airport managers to conclude that the individual activities of their financial, planning, infrastructure development, properties development, and operations and maintenance departments constitute asset management. Before drawing that conclusion, airport executives should re-examine how much coordination within these departments currently takes place and explore what asset value means within their organisation. Also, airport executives should weigh the investment of a full-scale asset management programme implementation with short-term actions that can create immediate benefits for the organisation. This paper presents the current evolution of the asset management profession, specifically within the aviation industry, and suggests tactics to balance long-term programme development with immediate activities that prove value to the organisation. It also suggests balancing the priorities of different internal departments and increasing interaction for an improved physical environment.
Keywords: asset management plans; asset management strategy; risk; total cost of ownership; life-cycle analysis
The full article is available to subscribers to the journal.
Author's Biography
Jeffrey W. Fitzgerald is a strategic consultant who advises airport, military, health care, rail and road transportation, and higher education clients on how to improve their management of built and natural assets. For the last 22 years, Jeffrey has worked with facility owners to integrate asset management best practices and enable technology in planning, development, operation and maintenance business functions. He has served as asset management and information technology adviser to many large- and medium-hub airports, including the State of Hawaii Department of Transportation, Airports Division; Dallas Fort Worth International Airport; Houston Airport System; Los Angeles International Airport; and Cincinnati/Northern Kentucky International Airport.
Emily Seamster provides consulting and project management for asset management services, including policy development, as well as operations and maintenance, total cost of ownership, building efficiency analysis and change management support. She brings a business and communications perspective to helping clients apply management strategies to built and natural environments. Emily’s expertise in asset management includes recent experience with public- and private sector clients, ranging from Los Angeles International Airport’s Facility Management Initiative, Cincinnati/Northern Kentucky International Airport’s asset management update, the US Army Corps of Engineers Civil Works asset management strategies and Stanford Health Care’s ISO 55000-compliant asset management programme.
