Leading Asset Management Practices Help Utilities Optimize Their Asset Life Cycle Cost
Abstract:The Water Environment Research Foundation's (WERF) ongoing research program defines strategic asset management (SAM) practices and develops tools and techniques that help utilities implement asset management (AM) programs. EMA and partnering organizations lead this research, which expands WERF and WaterRF's Sustainable Infrastructure Management Program Learning Environment (SIMPLE) knowledge base for AM in four “tracks”: (1) Public Communication, (2) Benchmarking/Case Studies, (3) Decision/Analysis Implementation Guidance, and (4) Remaining Asset Life. Track 2 identifies utilities' leading AM practices and develops utility examples, helping other utilities learn how to implement SAM. A utilities survey identified opportunity areas for SAM and gaps for improvement. These leading practices (validated through site visits and a leading practices research forum conducted in June 2010) can help utilities optimize asset life-cycle cost in: Accounting and Costing, Business Risk Management, Organization and People, Maintenance, Secondary Data and Knowledge, and Strategic Asset Planning and Asset Management plans.
Document Type: Research Article
Publication date: January 1, 2010
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