Section 12. The department shall, subject to the approval and oversight of the executive office of technology services and security, develop and implement a single integrated asset management system to oversee and coordinate the maintenance, preservation, reconstruction and investment of all of the assets in its possession, custody and control. The department may use programs and services offered by the division of capital asset management and maintenance and the information technology division or separate offices, divisions, and authorities within the department to aid in its development of an integrated asset management system as long as, in the judgment of the department, such programs and services compare favorably with those available from private vendors and are offered at competitive prices.