Item No. 6k_supp_____ 
Meeting Date: February 26, 2019 
Asset Management Phase 2 
Feb 26, 2019 

1

Asset management  a lifecycle approach to
delivering the right level of service 
Focus on the utilization of assets to achieve
organization goals and deliver business
objectives 
Considers how we extract value from the
asset not just ensuring it works (which means
thinking about the system) 
Its about doing the right amount of work, at
the right time for the right cost to deliver the
right level of service. 
Right Amount, Right Time, Right Cost, Right Level of Service 
2

Why Do Asset Management 
Cost 
Condition 
Capacity 
Consequence 



You Do Asset Management at Home. 
3

Why Do Asset Management 


First Cost vs Total Cost 
4

Why Do Asset Management 
Typical ROI for EAM system and improved asset information  includes: 
Labor utilization/ productivity is improved by 10-20% through better organization of
work activities. 
Inventory stock is typically reduced by 20-30% as a result of better managed work
activities  resulting in reduce stock holding, which has both a direct finance impact
as well as indirect through storage etc. 
Asset downtime is typically reduced 5-20% 


Saves Money Over Time 
5

Why Do Asset Management 
Benefits of a full asset management improvement program  include: 
Productivity benefit  20 - 30% reduction after a 5 to 10-year period. 
Improved safety  2 to 3 times reduction in safety incidents 
Improved performance  40 to 80% improvement in customer service 
Improved use of available resources  20 to 30% reduced outages, reduced overtime 
Improved environmental performance  reduced CO2 emissions and reduced environmental
incidents 
Reduced risks  resulting in reduced insurance premiums (up to 30% reduction in premiums),
and incident payouts. 


Saves Money Over Time 
6

Accomplishments to Date 
Gap assessment performed to evaluate how are procedures and
processes stack up against industry best practices.
Assessment performed by WSP 
Gap Assessment created a scoping document 


Gap Assessment 
7

Next Steps 
Obtain consultant support for asset management services 
Develop/Improve and Implement Enterprise Asset Hierarchies
Develop/Improve Data Collection Process 
Asset Inventory Data Collection 
Conduct Condition and Capacity Assessments across All Asset Classes 
Develop Asset Management Reporting 
Systems Integration, Peoplesoft, Maximo, GIS 
Develop Introductory and Ongoing Asset Management Training 
Migrate existing Asset data into Maximo 
Develop Enhancements to Asset Commissioning/Onboarding Process 
Develop a process for Asset Program Sustainability

Obtain Consultant Services 
8

Request 
Request Commission authorization for the Executive
Director to execute an asset management services contract
for up to 5 years for Seattle-Tacoma International Airport,
with an estimated value of $5,000,000. 


9