1. Recognise the benefits of asset management strategies

There are many reasons why good, coordinated asset management is important, but the main ones highlighted by our speakers fell under three themes:

• Financial
  • Support the economy
  • Get the most out of existing assets
• Customer Experience
  • Ensure safety
  • Provide a quality service to ensure a positive customer experience
  • Apply best practice
• Regulatory
  • Meet legal duties
  • For National Highways this as a RIS2 commitment

2. Putting road users at the heart of asset management is key

From a local roads perspective, the road network serves local people and businesses and is often delivered and maintained by local people.

From a national roads perspecitve, when considering asset management culture more broadly, creating an end-to-end experience that demonstrates change and generates trust in what you are doing is very important.

In both these examples, putting road users at the heart of decision making is key, as these are the people who will be most effected by any changes to road assets/maintenance of existing assets. Doing this will install faith in the public that their roads are safe and reliable and provides an intuitive and personalized touch to asset management.

3. Reflect on lessons learnt to shape future decisions

Lila shared four key lessons learnt by National Highways as they developed their Asset Management Policy and Approach, which were:

• There needs to be commitment from senior management – leadership and clarity must come from the top
• You need a single direction and a common approach to asset management
• There must be a clarity of roles and responsibilities, at the end of the day asset management should be common sense
• When keeping the end goal in mind there are two speeds to work at: slow-speed (where you focus on the long-term future goals) and fast-speed (quick wins will provide assurance which will mean people have confidence in your long-term plan).

4. Utilise the power of data that asset management brings

Asset management projets that last for long periods of time will generate lots of data which can be used to:

• Predict future investments
• Make early strategy changes
• Improve services to customers
• Create better and predictable assets
• Provide visibility and evidence of services and actions
• Provide a platform to scenario plan

Where to watch the Masterclass

We spoke with Lila Tachtsi, Asset Management Director and Janvi Shah, Head of Asset Management Strategy, both from National Highways who discussed their new Asset Management Policy and Approach. We were also joined by Rob Gillespie Chief Executive, Hounslow Highways Services and Director, VINCI Highways to talk about asset management in the local, urban environment. CIHT Members can watch the webinar recording here.