Public Asset Management or Corporate Asset Management (CAM)
Public asset management (also referred to as corporate asset management) expands the definition of enterprise asset management (EAM) by incorporating the management of all things of value to a municipal jurisdiction and its citizens' expectations.
An EAM requires an asset registry (inventory of assets and their attributes) combined with a computerized maintenance management system (CMMS). All public assets are interconnected and share proximity, and this connectivity is possible through the use of GIS.
GIS-centric public asset management standardizes data and allows interoperability, providing users the capability to reuse, coordinate, and share information in an efficient and effective manner by making the GIS geo-database the asset registry. A GIS-centric public asset management that standardizes data and allows interoperability, providing users the capability to reuse, coordinate, and share information in an efficient and effective manner.
In the United States the de facto GIS standard is the Esri GIS for utilities and municipalities. An Esri GIS platform combined with the overall public asset management umbrella of both physical "hard" assets and "soft" assets helps remove the traditional silos of structured municipal functions. While the hard assets are the typical physical assets or infrastructure assets, the soft assets of a municipality includes permits, license, code enforcement, right-of-ways and other land-focused work activities.
This definition of "public asset management" was coined and defined by Brian L. Haslam, President and CEO of an international GIS-centric Computerized Maintenance Management System (CMMS) company that produces software certified by the National Association of GIS-Centric Solutions (NAGCS). GIS-centric public asset management is a system design approach for managing public assets that leverages the investment local governments continue to make in GIS and provides a common framework for sharing useful data from disparate systems. Permits, licenses, code enforcement, right-of-way, and other land-focused work activities are examples of land-focused public assets managed by local government. These public assets occupy location just as in-the-ground or above-ground public assets do.
GIS is not a panacea; effective asset managers of physical assets such as buildings make informed-decisions about what to do and when to their assets in-order to maximize resource-return on their organizational goals. Sometimes, information displayed geospatially can help those decisions. Moreoften, however, deep understanding of markets, engineering systems, and human interaction enabled by analysis and sythesis of information lead to these effective decisions. The geospatial context may not be the most important one to make understand these facets.
Land-use development and planning is interconnected to other local government assets and work activities. Public asset management is the term that encompasses this subset of land-focused asset management, considering the importance that public assets affect other public assets and work activities and are important sources of revenue and are various points of citizen interaction.
Read more about this topic: Asset Management
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