What does the term "asset management" refer to in the Civil Engineer context?

The term "asset management" in the context of civil engineering refers to a systematic approach to operating and maintaining assets. This encompasses the processes and activities involved in ensuring that infrastructure, facilities, and other assets are managed efficiently throughout their lifecycle. Effective asset management aims to maximize the value of these assets by ensuring they are properly maintained, operated, and improved over time, ultimately leading to enhanced reliability, performance, and safety.

It includes strategies for regular maintenance, assessments of asset conditions, planning for replacements, and making data-driven decisions to optimize performance and minimize costs. This comprehensive viewpoint not only extends the life of the assets but also minimizes risks and supports operational readiness in civil engineering projects.