Four years have flown by, filled with significant events and changes in the infrastructure asset management sector. Here are some of my key reflections:
COVID-19 Impact: Beginning with my start in January 2021, the pandemic drastically changed work styles, with a shift to remote work and virtual connections. Technology like Teams and Zoom became essential, though the under-utilisation of office spaces is concerning.
Skill Shortages: There was a notable lack of skilled professionals to handle the necessary infrastructure investments, particularly in water and roads. Efforts were made to add asset management skills to immigration preference lists.
Natural Disasters: Cyclone Gabrielle and the Auckland floods, following other deluges, caused widespread disruption. Our sector’s response showcased its skill and professionalism.
Economic Challenges: The cost of living and housing crises, coupled with high inflation and interest rates, strained budgets. Rates increases, necessary to catch up on deferred hikes, have been significant but perhaps give hope for future investment.
Water Reforms: These reforms faced prolonged uncertainty but were gaining momentum until political shifts altered their course. Many are looking forward to getting on with the task of ensuring our waters infrastructure is fit for purpose.
Government Changes: The current coalition government has halted and reversed several infrastructure initiatives, causing a downsizing of capacity and workforce changes. On the up-side, long-vacant council roles now appear to be easier to fill with skilled professionals.
Future Workforce Needs: As new projects commence, we may still need to cope with objections to increased costs due to the need to repatriate skilled professionals. The call for a bipartisan long-term infrastructure plan is welcomed but has been met with political scepticism.
Consistent Need for Investment in People: Continuous investment in both new and experienced asset managers is crucial to keep up with global developments and meet community needs. We need the best minds applied to the hardest problems.
Our duty remains clear: Ensuring the voice of asset management is strong and clear is a key obligation if we are to serve our communities effectively.
AI is there to use: The above is a 273 word AI summary of my original 734 word ramble that took about 1.5 seconds generate. Hmm – didn’t have that in January 2021!
This is an unsung hero sector. But in the next four years, be prepared to be in the spotlight.
Ngā mihi,
Murray Pugh
Chief Executive
Āpōpō – Infrastructure Asset Management Professionals
Valuable summary and insights.