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Fast Tracking the Implementing of an Asset Management Program Saves Time and Money!

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Implementing a comprehensive asset management program with the traditional planning, design, and implementation phases can typically take three to five years and cost millions of dollars. Lee County Utilities (LCU) was determined to implement a comprehensive asset management program to improve the management of their over 700 million dollars worth of assets but didn't want to wait over three years to see any meaningful results and wanted to minimize the costs as much as possible. Because of this, Malcolm Pirnie and LCU formulated a fast track approach that would complete the planning and design of the program in less than a year, would focus solely on a small portion of the system, Waterway Estates, and would fully evaluate the small pilot area in terms of asset condition, criticality, risk, renewal and replacement funding, and potential rate impacts. This paper will outline in detail the pilot area approach steps and benefits.
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Keywords: Asset Management; CMMS; Capital Planning; Risk Assessment

Document Type: Research Article

Publication date: 2010-01-01

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