Asset Management — How to begin

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 need for $276.8 billion in improvements in drinking tap 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 really is along with the price of operation and maintenance. The smaller the city, the more the per capita cost.

Asset management is an application for inventorying, evaluating and planning for assets in order that utilities may make more efficient and efficient choices krungsri asset in how to purchase their infrastructure. This can be quite a daunting task because asset management can be quite 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 begin using asset management.

Implement Asset Management in Phases
Element of asset management is always 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 when it isn’t using that data to make more informed decisions and plan its infrastructure investments, it’s not practicing asset management.

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

Begin with high priority assets. You may choose categories of assets centered on type, location, age or other factors vital that you your utility. An average place to start in a drinking tap water system may be storage tanks. In a wastewater system, you may start with pump stations. From there you can include 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 keep track of plenty of information regarding your assets. Collecting, coding and entering that data can be quite time consuming.

You are able to simplify this by choosing in the first place general information regarding your assets. Begin with information that enables you to recognize particular assets and prioritize them for possible inspection, refurbishment or replacement.

You could add more details over time. As you select what details to include, consider if they will allow you to 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 problem of a utilities major assets can seem as an overwhelming task. Fortunately, you probably have plenty of useful information already.

Utilities are engineered systems, and engineering reports, plans and specifications in your files can tell you a great deal about your system because it was built. The engineers who prepared these documents may manage to supply you with electronic plans you might be able to place into a GIS.

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

Remember that as you begin your asset management program, you’re not starting from scratch. You are likely to have plenty of information regarding your assets and their condition at hand.

Utilities are face with enormous needs for infrastructure improvement and pressure to help keep rates due to their 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 for instance a huge task, especially in light of all data that could enter it, but you can begin sooner rather than later by starting small and building from there.

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