Asset Management IQ

This guidebook includes a self evaluation tool, called the Asset Management IQ. This tool will help assess progress in Asset Management activities. The tool has a total of 30 questions: 5 general questions and 5 questions for each of the 5 core components. These questions are designed as a review of the important concepts of each of these components. Each question has a description of 6 possible levels of completion or practice. Reviewing these questions and the answers will help you understand where you need to focus your efforts toward implementing an Asset Management Plan.

Both the test and a scoring table are also available as a printable pdf, which may be copied for use by multiple personnel within your utility. In the web version of the test, clicking on the radio button next to a choice will automatically enter the number of points for that option and keep track of the score for each section of the Asset Management IQ as well as the total cumulative score. If a new answer is selected, the new choice and the new points will appear and the old points will be removed.

If the user completes the entire Asset Management IQ tool (all 30 questions) before starting Asset Management, it will provide a baseline evaluation at the beginning of Asset Management. Comparing the scores of each of the six sections will show which areas have the biggest gaps in terms of Asset Management activities. These scores may provide information about where efforts should be focused. You may wish to start with areas that are the weakest, offering a large improvement with a little effort, or with areas that are already strong, which would offer a chance to get started in a familiar area.

As the utility progresses, the Asset Management IQ can be repeated and the scores compared to previous scores. At a minimum, you may wish to repeat the Asset Management IQ every year.

It should be noted that a total score of 150 would represent best practice in all areas of Asset Management. Not all utilities will be committed to achieving this goal. The utility should set its own target levels. The tool is meant to help utilities gauge their progress over time.

 

 

Asset Management IQ Assessment

Step 1 of 7

Section I: General Asset Management

Select the answer that best describes your organization.

A. Is Asset Management terminology understood throughout the organization?
B. Does the organization have a clearly defined Asset Management Plan?
C. Is Asset Management fully embraced by the elected officials or governing body of the organization?
D. Does the organization have a strategy for communicating the Asset Management strategy throughout the organization?
E. Does the organization have an overarching goal or mission statement for Asset Management?

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