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Practical Implementation Of Asset Management Th... UPD

Today, the Commission published a Recommendation on a Code of practice on the management of intellectual asset for knowledge valorisation and a Recommendation on a Code of practice on Standardisation.

Practical implementation of Asset Management th...

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They support the implementation of the Council Recommendation on the guiding principles for knowledge valorisation announced in December 2022. Developed together with a wide range of stakeholders, they provide guidance for researchers and innovators on intellectual asset management and on how best to use the results for standardisation.

The new code of practice on the management of intellectual assets aims to increase the impact of research results and innovative technologies and accelerate the use of knowledge. This code is addressed to all R&I actors and offers guidance on strategic intellectual assets management.

The objective of this code of practice is to provide support to stakeholders through recommendations and practical examples on how to handle challenges related to intellectual assets in the current research and innovation context (e.g. results co-ownership, skills development, valuation, international projects etc.)

The community of practice launched for this purpose carried out an in-depth analysis of existing evidence to identify best practices that can effectively boost intellectual asset management along the knowledge generation chain.

A call for expression of interest to join the community generated a high level of interest from stakeholders with expertise in innovation, intellectual property law, intellectual assets management, research and development, technology and knowledge transfer and life sciences.

The current and next generation of knowledge creators need to be aware of the importance of the management of intellectual assets (including intellectual property rights). Providing orientation and concrete guidance on intellectual assets management is crucial to promote the effective valorisation of IP.

The Framework is intended to provide a practical implementation guide, supporting investors in defining and delivering their own net zero investment strategy. While this process will always be heterogeneous and unique to each investor, the Framework helps inform these approaches based on best practice methodologies and metrics. An increasing number of investors are expected to use the Framework following its publication.

An Advisory Group of asset manager signatories informs the Steering Committee in its management and coordination of the Net Zero Asset Managers initiative. The current Advisory Group members are: Edward Mason (Generation Investment Management), Catherine Ogden (Legal and General Investment Management), Charles Nguyen (Neuberger Berman), Silva Dezelan (Stafford Capital Partners), Takeshi Wada (Sumitomo Mitsui Trust Asset Management) and Wendy Cromwell (Wellington Management).

Ralph continues by breaking down these principles into practical and actionable techniques, conveniently separated into two broad groups: pre-implementation and post-implementation. Techniques to put in place before a DAM is released to end users include:

AASHTO and FHWA have made Transportation Asset Management a national priority. They are providing national leadership and guidance to States as they work to incorporate asset management principles and practices into their business processes. The goal of AASHTO and FHWA is to supply generic asset management approaches to organizational integration, performance measure development, application of analytical tools, and information management. These generic processes and tools may then be utilized "as is," or they may be applied after in-house or other customized revisions.

Although the fundamental tenets of asset management are visible in each State practicing the discipline, the assumptions made, tools employed, and information used vary from State to State. Each State brings its unique organizational strengths and perspective to implementation. In addition, each State's Transportation Asset Management program reflects the State's unique decisionmaking process and individual goals. One size will never "fit all" in State asset management.

While there is no standard approach or strategy to implementing asset management, a variety of models, methodologies, tools, and techniques are available to assist in the efficient use of existing resources.4 Agencies must examine exactly where they are, what information they have available, and where they want to go before determining (or continuing) an approach to implementing asset management. Moreover, an agency should remember these important facts:

Policy-based asset management programs tend to support a long-term, life-cycle approach to evaluating investment benefits and costs. Policy-based decisions on programs for different assets, modes, or types of investments may be based on historical funding baselines, formula-based splits, or deal-making rather than on current performance objectives or targets. Policy-based asset management programs should define the directions and overall priorities for an agency's infrastructure management. It should relate objectives, performance measures, and performance targets. The asset management framework does not prescribe what priorities should come first-only that individual agencies and their policy-making bodies discuss and analyze policy options and adopt the ones that are thought to be warranted.

On the other hand, performance-based asset management programs support the preservation of existing highway assets through the use of identified measures and targets. They enable decisionmakers to identify the optimum balance between availability and utilization for any asset at any given time, based on the real-time performance measures prioritized to current business strategy. The lack of effective performance measures for maintenance, operation, and engineering, however, has resulted in performance approaches based more on budget cost management than on asset performance management.

Performance-based asset management is a process of managing an infrastructure system in order to optimize its behavior when evaluated against specified objectives. It enables prioritization of investment in highway infrastructure construction, inspection, and maintenance. It is risk based, in that the costs of alternative investments are weighed against their benefits. It also has to take account of the multiple objectives for highway assets, including economic efficiency, the environment, and safety.

The Generic Asset Management System (see Figure 1), which serves as a framework and guide to the asset management process, shows the importance of defining Goals and Policies at the start and using Performance Monitoring as a check. A system can be either policy-driven or performance-driven as long as one is used as a balance for the other. For example, an agency may adjust its policies higher or lower based on the feedback gathered by performance monitoring that is used to check conformance to the policy. When the data come back, an agency may find that it is already doing better than its stated policy objectives or it may find that the policy objectives are not realistic or need to be placed on a longer time track.

FIGURE 1. The components of a generic asset management system, the relationships among them, and key questions that inform the system's analytical process. (from Asset Management Primer, 1999, p. 19)

A transportation agency can begin to implement asset management principles and practices right away. Most organizations already have resources devoted to asset management but have not taken the opportunity to fully develop these resources into an organized program. It is important to identify how investment decisions are currently being made in the agency and how this method differs from an asset management approach to decisionmaking. The primary needs in getting started are a sincere desire to improve the ways in which the transportation agency conducts its business and a commitment from top management to focus on the implementation goals. Asset management is not a fix for overcoming major problems within the organization, but it can help identify methods and resources to solve some of the problems.

A self-assessment will help to identify specific opportunities for improvement within the transportation organization. It will help to organize thinking, identify an organization's strengths and weaknesses, and lay out an action plan for implementing an asset management program. In addition, a self-assessment will build consensus among top managers regarding the status of asset management within the organization.

The Transportation Asset Management Guide, published by AASHTO,5 contains a recommended self-assessment with step-by-step instructions. This tool will quickly provide an overall picture of where a transportation agency is regarding asset management practice. The self-assessment results will reflect the agency's individual institutional, organizational, financial, and information technology environments.

An agency's policies and goals will define its most important priorities (see Figure 2). Asset management is a customer-focused, goal-driven management and decisionmaking process. Organizational goals, policies, and budgets establish a consistent evaluative philosophy. Goals and performance indicators are literally the levers that drive the asset management decision framework, establishing investment levels that reflect service levels, and making resource commitments consistent with the perceived needs of the public. Analysis procedures regarding alternative options are used within this framework.

Decisions regarding program investments are optimized according to goals established by elected officials and policymakers. Performance goals provide a way to convey to the public how transportation agency officials are managing the public's assets. Asset management provides a logical, fact-based approach to dealing with and explaining the impact of the practical realities facing transportation system owners today. 041b061a72


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