Digitalising asset management: concomitant benefits and persistent challenges

Purpose Advancements in digital technologies have provided significant opportunities to improve the Architecture, Engineering, Construction and Owner-operated (AECO) sector's performance through superior data management, streamlined processes and cooperative working practices. However, whilst academic literature widely espouses these benefits during the design and construction phases of development, research suggests that the operational phase of a building's lifecycle has yet to fully realise performance improvements available through the application of digital modelling technology. The purpose of this paper is to synthesise extant digital modelling, asset management and emergent digital asset management literature, to report upon the beneficial implications of digitalised asset management and identify obstacles hampering its adoption in industry. Design/methodology/approach A componential synthesis of future work reported upon in extant literature is organised into thematic categories that indicate potential research avenues and a trajectory for digital asset management research and practice. Findings Themes identified include: imprecise Building Information Modelling definitions; isolated software development; data interoperability; intellectual property and virtual property rights; and skills and training requirements. Notably, increased environmental performance also arose as a theme requiring further research but received considerably less academic coverage than the other obstacles identified. Originality/value The work presents a comprehensive review of digital technologies utilised within the AECO sector and as such provides utility to researchers, policy makers and practitioners to enhance their knowledge capabilities.