Federal agencies are not fully complying with asset management standards issued in 2014, GAO has said, although all of the six agencies it examined followed at least some of the best practices it has identified.
GAO was reviewing compliance with International Organization for Standardization 55000 standards, an international standard on asset management, in the management of assets including buildings, roads, bridges, and utility systems. It said that leading practices include establishing formal policies and plans; maximizing an asset portfolio’s value; maintaining leadership support; using quality data; promoting a collaborative organizational culture; and evaluating and improving asset management practices.
While OMB “has issued guidance to inform federal agencies’ real property management efforts, the existing guidance does not reflect an effective asset management framework because it does not fully align with ISO 55000 standards and the key characteristics,” it found.
It said the guidance “does not direct agencies to develop a comprehensive approach to asset management that incorporates strategic planning, capital planning, and operations, or maintaining leadership support, promoting a collaborative organizational culture, or evaluating and improving asset management practices. In addition, the guidance does not reflect information on successful agency asset management practices.”
GAO said that OMB however does not plan to update that guidance because OMB’s real property management focus has shifted to the “reduce the footprint” initiative, which focuses on efficient use of buildings and warehouse space. GAO responded that “without a more comprehensive approach, federal agencies may not have the knowledge needed to maximize the value of their limited resources.”
