Asset Management Around the World – the Expertise of Australia/New Zealand, the UK and the US

INTRODUCTION The Australian/New Zealand approach to asset management is often touted in published literature and held up as the front-runner in asset management best practice. The tools and techniques born in Australia/New Zealand have been exported overseas and applied to many US utilities. Is the Australia/New Zealand approach really the be-all, end-all asset management solution for US utilities? This paper will explore asset management best practices from around the world. While the Australia/New Zealand technique has its merits, so do tools and techniques developed in other regions of the world. Utility examples will be used in the presentation of this paper to illustrate topics presented.This paper will evaluate best practice tools and techniques developed in the United States, United Kingdom, and Australia/New Zealand in the following areas:Developing Strategic DirectionPhysical Asset Investment StrategyBusiness Process, Information Technology and Data Management.