Assessment of engineering asset management in the public sector

Abstract

The importance of asset management in the public sector takes on new significance as capitalism confronts the modern era realities of globalisation and sustainability. The sustainability of environmental, financial and geopolitical systems based on ‘real’ value demands innovative ways of managing both built environment assets and natural resources. In most countries, the public sector is the custodian of the largest base, especially of infrastructure assets, and with increasing emphasis on accrual accounting, this paper briefly describes a framework for the assessment of engineering assets management in the public sector.