Good practice and standards set strict requirements for optimization and continuous improvement of physical asset management. The new international standard for asset management provides a framework for asset intensive industries to develop and implement sound asset management systems. Unlike the largest and most global industries, there are very few, if any, providers of services in the water sector that have developed and implemented a full set of best practices, in compliance with specifications created by the standard. Oslo Water and Sewerage Works (Oslo VAV) has worked systematically to evolve its asset management system by standardizing work processes and operating procedures in its Business Process Management System, implementing good practice in infrastructure asset management, and by improved management and control of the private contractor that operates the wastewater treatment plant's processes and activities. This paper provides insight into Oslo VAV's asset management system, assessment of current practice vs. best practice for complying with the standard and high priority areas for improvement.

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