Asset Management: Issues and Perspectives

Abstract

In the past decades, infrastructure management has been performed based on implicit knowledge, consisting of the experience and knowledge of professional engineers. The objective of asset management is to convert such decision-making processes based on implicit knowledge and experience into systematic processes based on more formal knowledge. The current paper discusses the fundamental structure of practical management processes, which is a thoroughgoing handson approach that tries to create methodologies based on data obtained through daily and periodic inspection. Moreover, the author points out the basic issues on Japanese styles of management implementation, and also discusses the perspectives on how to implement more efficient and sustainable management cycles, which could be compatible with the concept of ISO 55001. Finally, the paper concludes by discussing strategies which enable Japanese companies to expand their business in the global market.