Asset Management – How to get started

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Wisely and efficiently managing investments in assets is just a major issue even for small utilities. The U.S. Environmental Protection Agency has estimated that there surely is a dependence on $276.8 billion in improvements in normal 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 really is in addition to the price of operation and maintenance. Small the city, the higher the per capita cost.

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

Implement Asset Management in Phases
Element of asset management is 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 utility can spend years assembling this data, but if it isn’t using that data to create more informed decisions and plan its infrastructure investments, it’s not practicing asset management.

It is better to utilize asset management in its entirety to a manageable subset of assets and add to it over time. This way you can begin experiencing the advantages of it and gain practice for larger asset sets.

Begin with high priority assets. You could choose sets of assets centered on type, location, age or other factors very important to your utility. A normal place to begin in a normal water system may be storage tanks. In a wastewater system, you might focus on 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 caused it to be possible to keep an eye on plenty of details about your assets. Collecting, coding and entering that data can be extremely time consuming.

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

You could add additional information over time. As you decide what details to incorporate, consider if they will help you make better 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.

Go through the Information You Already Have
Identifying, locating and assessing the problem of all a utilities major assets can seem as an overwhelming task. Fortunately, you most likely have plenty of useful information already.

Utilities are engineered systems, and engineering reports, plans and specifications in your files can inform you 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 you may be able to put right into a GIS.

Utilities are also regulated by utility, environmental and health agencies. State agencies could have a wealth of information on your own utility and its assets, and it may be for sale in electronic formats. These agencies make periodic inspections of facilities that could include conditions assessments.

Remember that as you begin your asset management program, you’re not beginning scratch. You will probably have plenty of details about 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 specific pressure by improving and justifying your decisions about infrastructure investments. Starting a resource management program can seem such as a huge task, especially in light of all the data that may get into it, but you can begin sooner as opposed to later by starting small and building from there.

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