Asset Management in Public Works Managing People, Places, Processes and Pennies

As recently as 2020, the Asset Management industry enjoyed a record year. Since then, the growth continues. Aligning with early 2020 - mid 2021 projections by our researchers and analysts, observations over recent months have confirmed that state and local governments are soliciting a good many asset management-related solutions and services. In particular, there has been a focus on implementing a variety of asset management tools throughout Public Works.

These public sector entities, from across the decidedly broad SLED spectrum, have gained an even better understanding how an appropriate focus on asset management can be of extreme benefit covering many layers of a well functioning public works infrastructure.

Below, you will find our recaps and active, sample bids that will give you a glimpse at what is currently taking place. For a more in depth view of what has taken place over the past 1, 3, 5 years, contact us and request a Market Analysis to unlock data and details on bid and purchasing history.

It appears obvious, and agreed upon by many industry experts and pundits, that funds / grants originating from the Infrastructure Investment & Jobs Act (IIJA) will aid in further boosting this already fertile target for public sector spending. As we continue to communicate with our federal, state, and local contacts, we will properly adjust our reporting and forecasts. However, for our recent report on the IIJA, which includes innumerable opportunities in Asset Management, to include a link to our 'Infrastructure Hub', see ‘Infrastructure Bill Brings BidPrime to DC and Contracts to Businesses’, authored by Bill Culhane, our VP of Operations.

Among this wide array of required solutions and services, here are some of the more notable keywords from where we are seeing consistent bid/RFP activity:

Asset Management. The goals are efficiency, time savings, and maximizing budgets and resources. Those who oversee and are responsible for maintenance and other deliverables are looking for tools to process work orders with frontline staff. It continues to be important for supervisors and field staff to communicate the assignment, status and completion of assigned work.

In addition, solutions and services to ensure appropriate inspections take place and oversight on the status of inventory and condition of assets are equally important. Notably, we are seeing an increase in Geographic Information System (GIS) and even drone technologies being used to facilitate these processes and jobs.

Sample Active Bids/RFPs

Asset Management

Work Orders. Public sector entities, similar to their private sector counterparts, have a need to fulfill requests from customers, whether interal or external. Regardless if the work is initiated from outside of the agency, or within, the government entity must schedule the work or request for items, and assign it to appropriate staff. Important information that needs to be included and tracked are fine points on the job or request for items, dates/times, staff involved, applicable documentation, and related costs.

At an increasing rate, state and local agencies are using automation to schedule and track completion of corrective and preventive maintenance inspection tasks. As a result, the organizations are better able to maximize the utilization of staff and resources, while ensuring these important projects, and delivery of items, are completed in a timely manner.

Sample Active Bids/RFPs

Work Orders

Intelligent Transportation Systems (ITS). With the rise in smart city and pertinent technologies, we continue to witness a meteoric increase in solicitations related to ITS. Starting with our report, ‘Parking is Going Tech. Bids Increasing for Technology, Software, and Support', back in March 2015, we have kept a particularly close eye on ITS. Today, state, local, and municipal governments grasp the benefits of upgraded and well functioning traffic management, transportation systems, emergency services control, etc…

Some of the soliciation activity identified and collected by our technology, includes ITS technologies involving, but in no way limited to, ITS management systems, car navigation, traffic signal control systems, container management systems, variable message signs, automatic number plate recognition (ALPR), speed cameras, security CCTV systems, automatic incident detection, parking management, weather-related information, among a host of others.

Sample Active Bids/RFPs

Intelligent Transportation Systems (ITS)

Lifecycle Planning. With budgets being stressed and closely scrutinized moreso than ever, the ability to forecast funding and prioritize precious assets for capital planning has become even more paramount for public sector managers. The demand has been for consultants, technology, software, and services to help facilitate the review of investment on resources and to improve and streamline the prioritization assigned to projects.

Sample Active Bids/RFPs

Lifecycle Planning

We are in agreement that Asset Management, and all involved therein, are significant growth industries. As we observe public sector purchasing creating a pronounced increase in bid/RFP activity in the coming months, state and local agencies will be looking to identify contractors and vendors to provide the necessary expertise, solutions, and services.

The IIJA will increase investment. How many opportunities will there be for your business?

If you are looking to take advantage of this activity and growth, check out BidPrime’s technology, tools, and service. Because of BidPrime’s experience, service, technology and contacts, BidPrime is already tagged by thousands of businesses as the source for state and local contract opportunities.

You can anticipate that the timelines, dates from publish to award, will be short on a high number of these bids. Along with very often being the first to identify the solicitations, BidPrime expedites the bid qualification process through BidPrime’s Docs on Demand service, which provides customers with the ability to download documents in one-click. If for some reason the documents are not attached, users can request the documents and our research team will go to work for you. As an important addition, to combat the complexity and scope of documents issued, BidPrime’s DocSearch tool allows customers to search and quickly find even more relevant opportunities, which are often located deep within the details of bid documents.

As you prepare for the increase in Asset Management opportunities and want to take advantage of superior bid coverage and service, sign up for a free, no credit card required trial. Compare BidPrime with what you’re doing at this moment to identify opportunities. For more info, visit BidPrime or call 888.808.5356.

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