Design and Development of a Value-Based Decision Making Process for Asset Intensive Organizations

Asset intensive organizations have been adopting internationally recognized asset management principles towards the realization of value from their asset base. This normally involves the grasping of opportunities for an enhanced balancing of costs, risks and performance throughout the life cycle of asset portfolios or asset systems. Depending on the asset management maturity level of the organization, this may be done in a more or less explicit and formal manner. This paper proposes a formal and systematized value-based opportunity management process for asset intensive organizations. It presents the designing of the process and its foundations on the background knowledge of internationally recognized management approaches in the infrastructure industry and on the publications of the scientific and technical communities. The expected benefits and application of the process in multi-sector asset intensive organizations, namely infrastructure organizations with varying levels of asset management maturity, are also discussed.