Asset Management : Beginning your practice

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 an importance of $276.8 billion in improvements in drinking tap water infrastructure and $202.5 billion in improvements in wastewater infrastructure in the United States over another 20 years (based on reports from 2005 and 2008 respectively). This really is along with the cost of operation and maintenance. The smaller the city, the greater the per capita cost.

Asset management is an application for inventorying, evaluating and planning for assets so that utilities can make far better and efficient choices¬†krungsri asset¬†in how to purchase their infrastructure. This could be a daunting task because asset management could be a data intensive activity and even a tiny utility can have many assets. Utilities don’t need to delay, but can use these tips to begin using asset management.

Implement Asset Management in Phases
Section of asset management is always 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 energy can spend years assembling this data, but when 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 use asset management in its entirety to a manageable subset of assets and increase it over time. In this manner you can begin experiencing the advantages of it and gain practice for larger asset sets.

Start with high priority assets. You could choose categories of assets centered on type, location, age or other factors very important to your utility. An average place to begin in a drinking tap water system might be storage tanks. In a wastewater system, you could focus on pump stations. From there you can add pipes, treatment, sources and other assets one group at a time.

Focus on General Information and Add Details as Needed
Information technology has managed to get possible to keep track of 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 in the first place general information regarding your assets. Start with information that allows you to recognize particular assets and prioritize them for possible inspection, refurbishment or replacement.

You can add more details over time. As you select what details to incorporate, consider whether they will allow you to 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.

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

Utilities are engineered systems, and engineering reports, plans and specifications in your files can tell you a whole lot about one’s body as it was built. The engineers who prepared these documents may be able to supply you with electronic plans you may well be able to place into a GIS.

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

Understand that as you begin your asset management program, you’re not beginning 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 their services affordable. Asset management can allow you to deal with this specific pressure by improving and justifying your decisions about infrastructure investments. Starting an advantage management program can seem such as for instance a huge task, especially in light of all 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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