The unit introduces students to the key principles that underpin the strategic approach to managing physical infrastructure. The unit outlines the importance of applying appropriate asset management processes to optimise the service delivery provided to stakeholders from infrastructure assets. It highlights the importance of identifying and integrating an appropriate asset management framework within an organisation’s corporate planning. The unit compares the different strategies that might be most appropriate for different types of service delivery, including how to plan for and manage changes in demand for services. Optimised decision making techniques are investigated for application in deciding investment allocations for competing asset classes in an organisation. Topics also include data collection, management and application, and risk management within the asset management process and strategic infrastructure planning. The use of the international ISO 55000 series of Asset Management standards and contemporary Frameworks for Infrastructure Asset Management are introduced.