define asset management for utility and telecom industry
Infrastructure asset management Infrastructure asset management is the integrated, multidisciplinary set of strategies in sustaining public infrastructure assets such as water treatment facilities, sewer lines, roads, utility grids, bridges, and railways. Generally, the process focuses on the later stages of a facilityâ€™s life cycle specifically maintenance, rehabilitation, and replacement. Asset management specifically uses software tools to organize and implement these strategies with the fundamental goal to preserve and extend the service life of long-term infrastructure assets which are vital underlying components in maintaining the quality of life in society and efficiency in the economy.[1]
Project cycle management Project cycle management (PCM) is the process of planning, organizing, coordinating, and controlling of a project effectively and efficiently throughout its phases, from planning through execution then completion and review to achieve pre-defined objectives or satisfying the project stakeholder by producing the right deliverable at the right time, cost and quality.[1]