The decision-making processes for Integrated Asset Management (IAM)

In this research project, we will be describing the most important decision-making processes for assets and research, based on established theories of decision-making. We research which information is needed in order to arrive at improved, integrated decision-making processes and set up an integrated assessment framework.

The decision-making process is key to effective asset management

The decision-making process is a key aspect of the proper organisation of the asset management process, and it is important to identify the most important decisions and to ascertain how these can be taken as effectively as possible. Within this field of research, the focus will be on integrated decision-making processes. This refers to the weighing-up of investments and operating costs for different groups of assets (extraction, purification and distribution), based on the principle of creating maximum added value and maximum risk reduction within the statutory frameworks. Note that the fact that water companies are having to – and want to – take on more and more responsibility in respect of the environment plays an important role in this regard. This means that the right integrated (internal) assessment framework has to be chosen and that water companies need to know all the background information about – and ‘speak the language’ of – other parties (i.e. stakeholders) so that they can also explain their own decisions to the latter.

Identify the most important decisions

In this project, we will be drawing up a systematic description of the most important integrated (and other) decision-making processes about assets, which we will then translate into theories about the decision-making process, so that we can then formulate proposals for improvements for (integrated and other) decision-making processes and can state what the information needs are for the most important generalised (integrated and other) decision-making processes. The result will be an initial blueprint for an integrated assessment framework for assets.

Making a framework for integrated decision-making applicable

  1. A systematic description of the most important decision-making processes at water companies in relation to managing assets. The important strategic decisions to be taken for each organisational unit for the coming years will be mapped out, as will details of the way in which the current decision-making process for these options is shaped, how this impacts on performance, risks and costs and the extent to which this relates to integrated decision-making.
  2. Recommendations for setting up integrated decision-making processes.
  3. Making proposals (including specific details) for a framework for decision-making, and specifying the information needed in this regard.
  4. Recommendations for applying the framework in respect of integrated asset management.