LEAN asset management is simply defined as best value life-cycle management of the built environment, inclusive of buildings, roadways, utilities, transportation systems, bridges, dams, and landscapes.

LEAN asset management is based upon current, actionable information, including condition, costs, and priority as well as robust processes that are best value outcome focused.

Maximizing value to the organization with respect to repair, renovation, and construction requirements, requires also requiring sharing rewards and risks with selected service providers.  Unless there is a win-win, collaborative relationship between real property owners and service providers, history has proven that there will be little chance for best value outcomes for any participant.

Detailed, locally researched unit price line item item cost databases and LEAN construction procurement and project delivery methods are fundamental to best value LEAN asset management.   Educating all real property owners and service providers in this regard is critical.  Real property must attain higher levels of leadership and competence specific to LEAN processes is any measurable improvement in life-cycle asset management is to become a reality.

Fortunately, tools and services are readily available to any real property owner that consistently wishes to deliver best value outcomes.   Researched has consistently shown that over 90% of all repair, renovation, and construction projects can be delivered on-time, on-budget, and to the satisfaction of all participants, building users, and oversight groups, if LEAN procurement and construction delivery methods are properly leveraged.

An example of a LEAN procurement and construction delivery method is the OpenJOC(TM) Job Order Contracting Framework.   It integrates people, process, information, and technology to consistently deliver best value LEAN asset management outcomes.