Asset Management

Asset Management is a key term within smart infrastructure, where it is used across construction, infrastructure, transport and industrial project delivery. In practical terms, it helps describe how work is planned, specified, delivered, measured or maintained on real sites and assets. Understanding asset management is useful because the same language is often shared by contractors, designers, suppliers, asset owners, public authorities and investors.

Within Highways.Today’s Dictionary, asset management should be read as part of the wider vocabulary of connected assets, sensors, intelligent mobility, automation and digitally enabled infrastructure operations. It may appear in technical specifications, tender documents, project reports, equipment guides, safety plans, design models, maintenance schedules or news articles. Exact requirements can vary by country, project type, contract form, standard and manufacturer, so readers should always check the relevant local guidance, drawings, regulations and professional advice before relying on the term for design, procurement or operational decisions.