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Asset Management as an Integral Component of a Project- A Huge Benefit to Our Future

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Asset management was often ignored in the wastewater industry where items were replaced when their capacity was inadequate or they were worn out, and depreciation is a number changed as needed to lower rates. In a world of constrained revenue, aging assets, and increasing demands, however, asset management is becoming much more essential. Yet true asset management transcends disciplines. The operator repairing a pump and the depreciation schedule for that pump are interconnected. The asset list should not contain onc 61 million dollar line item entry of“Wastewater Treatment Plant.” Depreciation cannot be applied to a treatment plant as a unit. Some components wear out in I 5 years; others will last 200. In its 187 million Wastewater System Improvement Project, Fayetteville took the spirit of asset management to its highest level. The benefits are incredibly far reaching, both in scope and time.
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Keywords: Asset management; GASB; asset life; capital planning; depreciation; master plan; replacement

Document Type: Research Article

Publication date: 2009-01-01

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