Asset Management — How to begin

Wisely and efficiently managing investments in assets is really a major issue even for small utilities. The U.S. Environmental Protection Agency has estimated that there’s an importance 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 following 20 years (based on reports from 2005 and 2008 respectively). This is in addition to the price of operation and maintenance. Small town, the greater the per capita cost.

Asset management is a program for inventorying, evaluating and planning for assets to ensure that utilities could make more efficient 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 might have many assets. Utilities don’t need certainly to delay, but may use these tips to start using asset management.

Implement Asset Management in Phases
Section of asset management would be to inventory assets and assess their conditions. It’s increasingly common to link databases of asset and condition information to geographic information systems (GIS). A power 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 apply asset management in its entirety to a manageable subset of assets and enhance it over time. In this manner you can 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. An average place to start in a drinking water system might be storage tanks. In a wastewater system, you could start with pump stations. From there you can add pipes, treatment, sources and other assets one group at a time.

Begin with 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 quite time consuming.

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

You could add more details over time. As you decide what details to add, consider whether they will help you make better decision about where you can 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 problem of a utilities major assets can seem such 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 whole lot about one’s body because it was built. The engineers who prepared these documents may be able to supply you with electronic plans perhaps you are able to place in to a GIS.

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

Remember that as you begin your asset management program, you’re not beginning with scratch. You will likely 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 his or her services affordable. Asset management can allow you to deal with this pressure by improving and justifying your decisions about infrastructure investments. Starting a resource management program can seem such as for instance a huge task, especially in light of all of the data that could go into it, but you can start sooner as opposed to later by starting small and building from there.

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