Port of Baltimore—A Case Study for Asset Management as a Risk Reduction Tool for Sustainability Initiatives

Infrastructure is a core driver of human welfare and economic success in modern globalized society. Investment in infrastructure is in fact a primary contributor to the success of the world economy. However, investment in existing and future infrastructure assets has been deficient for decades worldwide. There is both an increasing demand for existing infrastructure maintenance and renewal as well as future proposed infrastructure needs. As a result many infrastructure assets are retained in service well beyond their initial design service life exposing the public to unforeseen risks. This paradigm is equally true for the Port of Baltimore which has infrastructure that was originally constructed in the 1920s. The marine terminal at the Port of Baltimore project presented real life challenges and solutions including: project budget and how to economically develop an asset management system; how to change the culture of an organization—terminal operations “Buy In”; asset management software tailored to the port industry—referenced classification system (Uniformat). The development of infrastructure asset management planning will help with on-going discussions of how to maintain aging infrastructure. By holistically maintaining and renewing infrastructure assets throughout their lifecycle, efficiency is reached. In addition, risk of failure potentially causing environmental fall out is mitigated by strategically prioritizing maintenance and renewal. Implementing an integrated asset management tool will have benefits related to accountability, risk management, service management, and financial efficiency. These benefits can be realized by both public and private entities for existing and future projects.