Monday, March 1
Shadow

Asset Management : Beginning your practice

Wisely and efficiently managing investments in assets is a major issue even for small utilities. The U.S. Environmental Protection Agency has estimated that there’s a significance of $276.8 billion in improvements in drinking water infrastructure and $202.5 billion in improvements in wastewater infrastructure in the United States over the next 20 years (based on reports from 2005 and 2008 respectively). This is in addition to the cost of operation and maintenance. The smaller town, the more the per capita cost.

Asset management is a program for inventorying, evaluating and planning for assets in order that utilities may make more effective and efficient choices krungsri asset in how to purchase their infrastructure. This can be a daunting task because asset management can be a data intensive activity and even a tiny utility may have many assets. Utilities don’t need to delay, but may use these tips to start using asset management.

Implement Asset Management in Phases
Element of asset management would be to inventory assets and assess their conditions. It is increasingly common to link databases of asset and condition information to geographic information systems (GIS). An electricity can spend years assembling this data, but if it isn’t using that data to produce more informed decisions and plan its infrastructure investments, it’s not practicing asset management.

It is way better to utilize asset management in its entirety to a manageable subset of assets and add to it over time. In this manner you are able to begin experiencing the benefits of it and gain practice for larger asset sets.

Start out with high priority assets. You may choose categories of assets based on type, location, age or other factors important to your utility. A normal place to start in a drinking water system might be storage tanks. In a wastewater system, you could begin with pump stations. From there you could add pipes, treatment, sources and other assets one group at a time.

Focus on General Information and Add Details as Needed
Information technology has made it possible to record a lot of information regarding your assets. Collecting, coding and entering that data can be very time consuming.

You are able to simplify this by choosing to start with general information regarding your assets. Start out with information that will allow you to spot particular assets and prioritize them for possible inspection, refurbishment or replacement.

You can include more details over time. As you select what details to add, consider if they will help you make smarter decision about where you should invest your effort and funds. If information won’t factor into decision-making, don’t waste your effort by collecting and tracking it.

Consider the Information You Already Have
Identifying, locating and assessing the situation of all a utilities major assets can seem as an overwhelming task. Fortunately, you almost certainly have a lot of useful information already.

Utilities are engineered systems, and engineering reports, plans and specifications in your files can let you know a great deal about your system since it was built. The engineers who prepared these documents may have the ability to supply you with electronic plans perhaps you are able to place into a GIS.

Utilities will also be regulated by utility, environmental and health agencies. State agencies might have a success of information on your utility and its assets, and it could be available in electronic formats. These agencies make periodic inspections of facilities that will include conditions assessments.

Understand that as you begin your asset management program, you’re not beginning scratch. You are likely to have a lot of information regarding your assets and their condition at hand.

Utilities are face with enormous needs for infrastructure improvement and pressure to keep rates for their services affordable. Asset management can allow you to deal with this pressure by improving and justifying your decisions about infrastructure investments. Starting an advantage management program can seem like a huge task, especially in light of all the data that can enter it, but you can start sooner as opposed to later by starting small and building from there.

Leave a Reply

Your email address will not be published. Required fields are marked *