Infrastructure Asset Management for Sustainable Development
Infrastructure is the backbone of economic growth and development. It is estimated that realization of over 90 percent of the sustainable development goals is directly or indirectly pegged to infrastructure. This means that unless significant investments in infrastructure are made, achievement of the Sustainable Development Goals (SDGs) by 2030 is highly unlikely. In many developing countries, the quality of infrastructure, especially transport, energy and communication is below par. Governments have fallen short in allocating public resources towards capital-intensive infrastructure projects, including resources needed to sustainably manage existing infrastructure assets over their entire lifespan.
Societies are becoming increasingly aware that there is under-investment in critical infrastructure, while at the same time recognizing that the development of new infrastructure should be done though a lens of sustainability and inter-generational equity. We can’t keep building new things today without thinking about how future generations will have to pay to upkeep them under potentially very different circumstances!
Fortunately, IAM principles promise to improve accountability, transparency, and efficiency when it comes to stretching available investment dollars and allocating them appropriately.
Infrastructure asset management can improve the capacity of local and national governments to undertake sustainable, inclusive development. IAM entails a systematic approach to managing assets – over entire life cycles and within a broader asset portfolio. It ensures that initial public investments in infrastructure are not wasted and that they adequately serve communities for generations to come. The growing number of risks and challenges stemming from climate change, public health crises and advances in digital technology make the case for effective asset management as compelling as ever. Effective asset management helps “make cities and human settlements inclusive, safe, resilient and sustainable” – Goal 11 of the 2030 Agenda for Sustainable Development. It is also key to building capacity at local level across the globe for SDG financing,.
Learning objectives
- Describe the principles and dynamics of effective asset management, and how they meet in an asset management framework;
- Explain the objectives of and be able to apply the UN Asset Management Diagnostic Tool;
- Describe the design and implementation of Asset Management Action Plans (AMAPs) and be able to develop one in the respective national or local context;
- Recognize the benefits of an effective asset management information system and outline the steps to develop and implement one;
- Evaluate and adapt asset management practices for crises such as climate change and public health emergencies;
- Explain how an enabling legislative and policy environment at the national level can support and sustain asset management at the local level.