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Keep your transportation asset projects on track

by Australian Road Research Board on March 30, 2022

A well-designed, task-specific asset assurance system is a must to keep things on track. A successful asset assurance system will underpin all facets of a transportation asset’s lifecycle from initial feasibility to rehabilitation or disposal.

With extensive experience in each facet of a project’s life cycle stage, ARRB’s Asset Assurance helps you plan, monitor, maintain and manage the required performance of your transport network through a systematic engineering approach.

The bespoke framework provides proper oversight to your transportation assets, saving you time and money while also minimizing and mitigating risk.

What is Asset Assurance?

Asset assurance seeks to provide guidance and data driven metrics through every life cycle stage of transportation assets to ensure owners and managers that their required quality and performance specifications are being met. This systematic engineering approach to the complete life cycle of a transportation asset empowers asset owners and managers to consider whole of life efficiency and ensure that the required quality and performance levels are maintained.

Quality assurance system

Asset assurance ensures asset quality and performance by considering all tools implemented in successful quality assurance systems as a base – Analysis and Assessment Planning, Assessment Policies and Procedures, and Data Tools and Human Resources. There are many factors impacting on the current state of transportation asset management. Expansive asset portfolios, loss of expertise and lack of experience within diminished teams, extreme weather events, the impact on the environment, the circular economy and sustainability are some prime examples of concerns that require the attention and commitment of asset owners and managers. Asset assurance is applicable and customisable to support all of these, and many other, factors currently impacting on the transportation asset industry.

Assurance modelling is the next engineering step in the evolution of transportation asset custodianship. With ever-expanding transportation asset networks and the amalgamation of transport authorities, the public and private sectors are increasingly moving to drive cost-effective, competitive, innovative solutions. An effective Asset Assurance System can assist with a technical skills shortage and the implementation of leaner and more efficient teams.  

A bespoke Asset Assurance System can be customized to be applicable throughout the entire life of an asset from whole of life level, being implemented at the inception stage all the way through to project specific phases of: Design, Construction, Maintenance, Disposal/Rehabilitation.

With the appropriate asset assurance system in place, all aspects from the commercial to technical interests of the project can be covered.

Asset assurance

Asset Assurance Systems are not considered to replace asset management practices. On the contrary, an applicable assurance system should be implemented to support the management of transportation assets throughout their entire life cycle.

Asset assurance stewardship

The graphic below is a visual indicator of what an assurance system can do. A successful assurance system will constitute a “shift left” in the required project actions which leads to higher influence and lower cost at all stages throughout the project life cycle. This is achieved by leveraging data and experience through the assurance system to predict the optimal timing of required actions to drive the success of the project.

Asset assurance success vs cost

Why ARRB Asset Assurance is the answer

ARRB’s Asset Assurance team can provide you with technical and project guidance on the successful implementation of an asset assurance that is project, task and team specific. ARRB Asset Assurance keeps contractors and consultants on track, on time, and on budget.

By assigning weighted responsibility to service providers and having review points at every applicable step of your project, ARRB Asset Assurance is proactive - not reactive – project management. It drives innovation and efficiency, leading to time and budgetary savings and minimising risk. Hold points hindering progress and draining resources are no longer required. Our asset assurance systems are custom designed and set up to meet the requirements of the asset owner. This ensures ease of use, both for you and the service provider.

ARRB’s Asset Assurance will give you complete confidence that standards and performance requirements are being met throughout the life of the transportation asset.

To find out more about ARRB Asset Assurance and how it can help you and your business, contact Johan Cronjé via johan.cronje@arrb.com.au or +61 448 054 698.

Topics: Asset Management, Research, Transport Data, Road and Transport Research, Asset Assurance