Maximizing Project Success through Integrated Asset Management and Strategic Planning: Case Study DC Water – Hailu and Melsew
Abstract:
In a world-class water utility like DC Water, the asset management principles driving the capital improvement program are multifaceted and pivotal. Asset management encompasses the strategic maintenance, operation, and optimization of physical and intangible assets throughout their life.
When asset management decides rehabilitation or replacement of the asset is needed, project initiation begins. This is followed by defining objectives, delineating scope, and formulating a comprehensive plan for successful project execution. This is done during the planning phase of a project. In addition to the usual responsibility of delivering the project, the project manager is responsible for updating asset information following standard practices and handing over information in a usable format to operation and maintenance.
Other responsibilities of a project manager that would be demonstrated in the case study include resource optimization, risk management, data-driven decision making and alignment with organizational strategic goals. In essence, the project manager ensures that projects are effectively planned, executed and aligned with the mission of the organization, contributing to improve asset performance, reduced risks, better utilization of resources and satisfy the needs of project stakeholders.
This case study will demonstrate the imperative nature of aligning organizational strategies with project objectives. It reveals how such alignment mitigates risks, optimizes resource allocation, curtails costs, and elevates the overall success rate of projects. Moreover, it underscores that leveraging insightful reports and dashboards from standard and spatial asset metadata helps inform project decisions, preventing redundancy and duplication of effort within the organizational framework.
Symposium attendees will get a chance to appreciate the value of the asset management driven approach besides garnering a deeper understanding of its practical implications and benefits for project and asset management professionals.
PMI Talent Triangle: Business Acumen
PDUs: 0.75
