Asset Management

Ensuring that LOTT facilities last

The Asset Management Program includes long-range planning, life-cycle costing, proactive operations and maintenance, and capital replacement plans based on cost-benefit analyses. It involves inventorying all assets, evaluating their condition and criticality, identifying maintenance needed to extend their useful life, and determining when assets are in need of repair or replacement. The use of Asset Management protects valuable facilities and extends financial resources by:

  • Making sure components are protected from premature failure through proper operations and maintenance
  • Facilitating proactive capital improvement planning and implementation over longer cycles to reduce overall costs
  • Reducing the cost of new or planned investments through economic evaluation of options using life-cycle costing and value engineering
  • Focusing attention on results by clearly defining responsibility, accountability, and reporting requirements within the organization

Asset Management Program Executive Summary Report (PDF)