Introduction
Public procurement goes beyond the purchase of goods and services. It includes the efficient management of projects, assets and inventory. The duration of contracts and limited flexibility in the public sector can impede the adoption of effective inventory practices. Asset management is a massive topic, and many strategies can help an organization improve the way it does business and makes decisions and how it processes, uses, and communicates data related to its inventory and asset management.
Learning Objectives
Upon successful completion of this chapter, you will be able to:
- Understand the scope and importance of Asset Management within governments.
- Analyze the process of asset management.
- Understand the benefits and challenges associated with asset management in the public sector.
- Explain the various approaches to project governance.
Public Procurement Playbook
Watch this video to learn more about asset management challenges for public entities.
Source: Masoom Alli CA(SA). (2024, October 4). The Basics of Asset Management: Common Asset Management Challenges in Public Sector Entities. [Video]. YouTube. https://www.youtube.com/watch?v=p5NuPao4CA8
