This is intended as a practical guide for any agency interested improving overall Asset Management, or someone appointed by senior leadership to build or expand on an AM function. It is our response to common questions around staffing to perform the functions and competencies required to support an effective Asset Management system.

We assume you already know what AM is and why it’s useful. We start from the assumption good AM is a strategic business capability for an asset-intensive business, not simply something done for regulatory purposes or to check some box.

The challenge for US Transit Agencies, and other sectors wanting to implement Asset Management, is finding the right people and assigning committed resources to its delivery. Asset Management is increasingly important – yet there are few experienced AM practitioners, and even fewer useful resources on how to develop an AM team.

The thirty years since Asset Management began to be established in Australia and New Zealand – and much less time in many places - is not long to establish a stream of trained and experienced people. AM is still not taught at undergraduate level, and only partially on a few post graduate courses up until now. It isn’t included in the standard curricula of business, finance, engineering, urban planning or other relevant disciplines.

Another looming challenge is that now many of the thought leaders and most knowledgeable and experienced AM practitioners have been at this for more than two decades, and are transitioning into other stages of their lives. Add into these the now legislated requirements in North America for Asset Management that require at least knowledge of it in those regulated organizations, and the demand wildly outstrips supply for anyone with any AM experience.