The major research effort started with a series of roundtables around the globe to collect PSAM best practice and other data and come up with recommendations.
The research is a timely knowledge-resource for public officials seeking to further professionalise and optimise their real estate portfolios while cutting costs and maintaining the same levels of public services. It has called on the private sector to share experiences to help public organisations control asset management costs, demonstrate strategic and financial value and thrive into the future.
Now more than ever, public sector asset management (PSAM) professionals are in a position to influence public policy as governments seek ways to manage their assets more responsibly. In each of the PSAM regions, we heard that more attention is being paid to asset management. The drivers behind this change stem from:
- Widespread initiatives towards sustainability
- A recognition that technology is transforming how the workplace is utilized
- Executives’ desire for greater visibility of their enterprise through recent advances in analytics
- Major interests in technology around enhanced automation
In light of the immense backlog of deferred maintenance that governments have accumulated among their portfolios, leaders recognise that the old way of managing assets is unsustainable. The future model must be more strategic to prevent these backlogs from continuing.
The consistent insights appeared across the geographical regions are:
- A global push to reduce the total amount of physical assets and space.
- The desire to transform vast amounts of data into actionable intelligence.
- The lack of standardised training and education to attract talent and develop professionals for the twenty-first century.
Asset management consolidated data model
Read the next page in this section