“Quorum has provided a lot of insight and very specific and usable deliveries for our asset management journey.”

Klaus Hvass Kjeldgaard, Asset Manager, Team Leader for Analysis & Investment, Fors

A structured Asset Management approach provides a clear plan for reinvestments

Background

Since 2018, Fors has implemented activities to promote an Asset Management approach in the operation, maintenance, and the investment in physical facilities. Fors wants to work with and collect data in a structured manner that promotes planning and the preparation of reinvestment plans. Quorum was involved as the project manager with responsibility for development. The purpose of the project was to provide an overall picture of the technical and financial needs for reinvestments in the short and long term and to design and implement the supporting processes to ensure the realization of the plan.

 

Approach

Initially, Fors’ data collection structure was examined, and the data requirements were determined. Based on these, collection templates were prepared and tested. Together with Fors, Quorum carried out technical and financial data collection and held workshops for quality assurance and risk validation. Quorum developed and analyzed scenarios that resulted in a plan for reinvestment scenarios that ensure internal and political decision-making support. Quorum developed and started the implementation of processes for data collection and the establishment of reinvestment plans, governance structures for data collection and an analysis tool to support strategic decision-making. Throughout the entire project, Quorum facilitated a process that involved all parts of the organization to ensure motivation and support.

 

The result

With Quorum’s support, Fors managed to get an overview of their assets in an easy and structured manner, calculated their reinvestment needs for the long and short term, developed a generic analysis tool to support strategic decision-making, described and started the implementation of processes to translate the reinvestment needs into concrete plans and permanent updates to its planning basis. In addition, Fors also established governance structures for reinvestments and with Quorum’s continuing support it will ensure the anchoring of their Asset Management and governance work for reinvestments.