Strategizing Sustainable Infrastructure Asset Management in Developing Countries

Despite considerable financial issues in funding the infrastructure projects in developing countries, holistic, systematic, and sustainable asset management strategies are not adequately established and practiced in those countries, and this is causing tremendous losses on their economies. Lack of cost-effective management and long-term strategies for deploying, operating, maintaining, and upgrading of the infrastructure, is a threat to the attempt for development. The present paper is the result of an extensive review of literature and research to facilitate and strategize the implementation of the infrastructure asset management. The main strategies which are discussed in this paper are (1) holistic approach, (2) integrated system management, (3) continuous and precise data collection, processing, and sharing, (4) efficient resource allocation, (5) continuous improvement, (6) minimizing the need to create new infrastructures, (7) tracking performance measurement, and (8) efficient risk management. The paper can be used by investors, stakeholders, and decision makers of infrastructure in these countries by presenting: (1) the essentiality of shifting towards new approaches for infrastructure management, (2) the required adjustments in the conventional management practices, and (3) major strategies to actualize the required adjustments based on successful practices.