What is Linear Asset Management? When you think about the benefits of linear asset management, you might be asking, “What is it?” We’ll explain what it is, how it benefits you, and the challenges and requirements for implementing this system in your business. Next, we’ll talk about software solutions. Here are some examples:
Benefits
Linear assets are characterized by their length and can have several underlying structures. Depending on the type of asset, they may have specific lengths throughout their span and may require manual analysis. In addition, these assets may have additional features.
These features can be identified and managed separately. The classifications and relationships applications allow users to group assets into logical groups. Linear assets can be maintained in place or restored in segments. Some examples of linear assets are highways, roads, and signaling.
Geospatial master data for linear assets must align with asset maintenance strategies. Data stewards must ensure that dynamic linear attribution is synchronized with static geospatial coordinates.
In addition, a solid IT/OT information management change program is critical to maintaining linear data and geospatial coordinates. This ensures that linear data is dependable and clean. If you’re looking for a way to improve asset management, consider using Bentley Linear Road Network Management.
Challenges
There are several challenges in managing linear assets. Because linear assets are often defined in fixed divisions, companies must identify and manage all levels of activity as separate capital projects. However, it is difficult to track the costs of different activities at each level.
Therefore, it is crucial to have a system that allows you to assign costs to asset segments for costing. The following are a few of the common challenges in linear asset management. Weigh these against the benefits of LAM systems.
As a company’s linear assets are its lifeblood, management is keen to keep them working at optimal levels. Any malfunction can cost the business revenue, customer satisfaction, delays in getting goods to market, and regulatory fines.
This means that maintaining and optimizing linear assets throughout their life cycle is essential to ensure that the value and performance are optimized. Moreover, effective LAM applications will help companies reduce costs and improve operational efficiency.
Requirements
To effectively manage linear assets, transportation departments and government agencies often wish to segment the enterprise by regions or districts. Linear assets may be associated with districts, and these regions may maintain their budgets.
Data about the management of linear assets at a district level must be rolled up the organization’s hierarchy to ensure proper budgeting, financial reporting, and investment analysis. A LAM system must be flexible enough to logically segment the enterprise to ensure maximum operational efficiency.
As linear assets are geographically dispersed, it is important to provide mobile workforces with accurate location information. The system can help in defining inspection and maintenance tasks, and create maintenance items and maintenance plans.
For instance, linear reference patterns are master data that can be used in classification and maintenance plans. They are available as portal content. To use them, railways must install the Business Package for Generic EAM functions and activate the Simplified Management of EAM.
What Is Linear Asset Management – Software solutions
The need for a software solution for linear asset management is a growing issue for many asset-intensive industries. These companies struggle to manage the complexity of their networks and need a specialized solution to streamline and automate asset management.
In the past, they relied on separate standalone systems or manual processes for managing their linear assets. However, today’s LAM applications can help organizations store, manage, and analyze their linear assets. This data is then easily accessible for analysis, cost collation, and schedule maintenance work.
In this paper, we look at how a software solution for linear asset management can help your organization increase its reliability, efficiency, maintainability, and safety.
A solution can improve operational performance and ensure adherence to safety standards by enabling you to schedule maintenance, dispatch work, and conduct investigations in real-time. These features improve operational efficiency and maximize asset availability. Let’s look at some of the benefits of linear asset management. The benefits are many.