Incorporating Condition Assessment into a Comprehensive Asset Management Program
Author: Urquhart, Tony
Source: Proceedings of the Water Environment Federation, WEFTEC 2006: Session 51 through Session 60 , pp. 4198-4206(9)
Publisher: Water Environment Federation
Abstract:In order to improve asset investment decision-making and achieve sustainable improvements in business performance, utilities must better understand asset condition, asset performance, remaining life and risks. Worldwide, annual expenditure on the maintenance and rehabilitation of water/wastewater reticulation pipes is estimated to be over 33 billion per year, and this is expected to rise significantly over time as aging assets continue to fail at an ever-increasing rate. The long-term cost implications for a utility with a poorly structured replacement/renewal regime can be dramatic. A formal asset management program can help this problem.
A formal asset management program that includes condition assessment can enable an organization to better understand asset condition and remaining life allows for proactive budgeting for renewal/replacement of expensive and high-risk assets.
This article will discuss how condition assessment relates to asset management; how to set up a targeted condition assessment program to support asset management; and how condition assessment data can be leveraged to support decision-making.
Document Type: Research Article
Publication date: January 1, 2006
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