MNG92100 Strategic Asset Management: Annotated Bibliography Session 1

This annotated bibliography focuses on strategic asset management, particularly in the context of highway and infrastructure maintenance. It reviews several studies, including one examining the application of asset management principles in UK highway maintenance, highlighting the impact of budget cuts on maintenance strategies. Another study proposes a framework for sustainable infrastructure asset management in Korea, emphasizing the need for standardized guidelines. Additionally, the bibliography covers resource allocation for rural road maintenance and the use of performance-based contracts in road infrastructure management. The overall conclusion emphasizes the importance of stakeholder consensus and adaptability in asset management strategies. Desklib provides access to this and many other solved assignments and study resources for students.

Running head: STRATEGIC ASSET MANAGEMENT
STRATEGIC ASSET MANAGEMENT
Name of the Student:
Name of the University:
Author Note:

1STRATEGIC ASSET MANAGEMENT
Introduction
The asset management strategy includes the approach of looking towards the transport
related issues in a collective way by using a long term view. This strategy helps the highway
authorities to consider the alternative options pertaining to the assessment of results, setting
performance targets, and the searching for the alternate options. This allows the asset
management to further improve their services and also the timing of maintenance that will be
required minimize the deterioration of the roads and the highways (Ang 2014). In this study, the
asset management strategy will be used to assess the highways and the roads.
Annotated bibliography
Shah, R., McMann, O. and Borthwick, F., 2017. Challenges and prospects of applying asset
management principles to highway maintenance: A case study of the UK. Transportation
Research Part A: Policy and Practice, 97, pp.231-243
The highway infrastructure is considered to be the most visible assets, valuable and one
of the largest assets that are owned by the public of United Kingdom. It is important to mention
that the ISO55000 is the international standard that will cover the management of the physical
assets. Asset management can be a defined as a strategy that enables the realisation of the values
of the physical assets. Asset management is considered as a complex paradigm that requires the
consensus of the stakeholders on the tactics, strategies, policies and values. Moreover, it will also
be related with the management trade-offs, performance metrics and the infrastructure services.
The authors of this study have used a questionnaire that will adopt the methodologies of
surveying the industry. Furthermore, a case study strategy was also analysed for the purpose of
evaluating and analysing the highway department in UK which is using the highway

2STRATEGIC ASSET MANAGEMENT
maintenance and is also implementing the highway management strategy. The case study was
used to analyse how the investigation was carried out and the evidences of application of the key
asset management principles. It can be concluded from the study that reduction in the budget of
the highway maintenance, also led to the reduction in the outputs of the structural maintenance.
Due to this the highway departments are forced to carry out reactive maintenance instead of the
preventive and panned maintenance.
Lee, S.H., Park, S. and Kim, J., 2015. Suggestion for a framework for a sustainable
infrastructure asset management manual in Korea. Sustainability, 7(11), pp.15003-15028.
The study conducted by the authors have proposed a framework for the infrastructure
asset management, and it contains the operation techniques of the asset management. This can be
used to adjust the different ordering techniques so that they can develop their own manuals. The
justification for the proper implementation of the strategy of asset management can be examined
through the analysis of the status and the changes that are encountered in the asset management.
The authors have concluded the study with the fact that the governments require the reporting
and assessment of the infrastructure asset management for the purpose of managing the asset
management and this will lead to the improvement of the government accounting. It is important
to mention that the developed nations have developed an asset management manual that includes
the operation techniques and he standardized procedures. Thus, it is important to mention that
Korea lacks the guidelines and processes pertaining to the asset management. The framework
suggested emphasizes on the creation of guideline and manuals for the purpose of the meeting
the needs of the government.
Agarwal, P.K., Khan, A.B. and Choudhary, S., 2017. A rational strategy for resource
allocation for rural road maintenance. Transportation research procedia, 25, pp.2195-2207.

3STRATEGIC ASSET MANAGEMENT
The authors have highlighted that the usage of the rural roads are vital for the maintain
the roads in a timely manner. It is also important to note that the although it is really cheap to
construct the roads constructed at a cheaper rate are not sustainable in the long run. The main
objective of the study is to formulate a rationale for the development of the rural road
maintenance. The authors have proposed that a two stage model has been proposed for the
purpose of road maintenance. The stage 1 of the model deals with the rationale of strategy of
determining the index of the rural road sections. The factors that have affected the rural road
sections and it includes the drainage condition, section importance, traffic safety condition,
traffic operation condition and structural condition. The stage 2 deals with the different activities
of maintenance at the different sections. Thus, it can be said that the model suggested by the
authors are none other than the asset management of the roads and highways. The strategies
framed by the author will greatly help in the management of the rural roads.
Schoenmaker, R. and de Bruijn, H., 2016. Embracing complexity in performance-based
contracts for road maintenance. International Journal of Productivity and Performance
Management, 65(1), pp.4-24.
The objective of the study is to manage the road infrastructure and it will be done through
the growing usage of the performance based contracts like the (PBCs) for the purpose of delivery
of the maintenance. The performance based contracts are one of the strategies of the asset
management strategy. While the main purpose is to achieve the desired outcomes by the
analysing the advantages and the disadvantages. The study provides an insight into the road
agencies and the they must focus on the process of interaction that are involved within the
system of the performance management systems. The agencies must modify their governance to
a certain degree of uncertainty. It is important to note that the usage of the performance

4STRATEGIC ASSET MANAGEMENT
management systems requires a knowledgeable and informed principal. One of the limitation of
the study is that the study is restricted to the study of only two roads agencies. Thus, requires the
usage of systemic research for the purpose of linking the theoretical construct with the empirical
evidence from more number of the road agencies. The lesson learnt from the case studies have
highlighted that there are potential benefits of the for the road agencies that consider the usage of
the performance based contracts.
Conclusion
From the above discussion it can be concluded that the asset management is considered
as a complex paradigm that requires the consensus of the stakeholders on the tactics, strategies,
policies and values. The justification for the proper implementation of the strategy of asset
management can be examined through the analysis of the status and the changes that are
encountered in the asset management. The strategy of helps asset management the highway
authorities to consider the alternative options pertaining to the assessment of results, setting
performance targets, and the searching for the alternate options.

5STRATEGIC ASSET MANAGEMENT
Reference
Agarwal, P.K., Khan, A.B. and Choudhary, S., 2017. A rational strategy for resource allocation
for rural road maintenance. Transportation research procedia, 25, pp.2195-2207.
Ang, A., 2014. Asset management: A systematic approach to factor investing. Oxford University
Press.
Lee, S.H., Park, S. and Kim, J., 2015. Suggestion for a framework for a sustainable infrastructure
asset management manual in Korea. Sustainability, 7(11), pp.15003-15028.
Schoenmaker, R. and de Bruijn, H., 2016. Embracing complexity in performance-based contracts
for road maintenance. International Journal of Productivity and Performance Management,
65(1), pp.4-24.
Shah, R., McMann, O. and Borthwick, F., 2017. Challenges and prospects of applying asset
management principles to highway maintenance: A case study of the UK. Transportation
Research Part A: Policy and Practice, 97, pp.231-243.