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 a requirement 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 next 20 years (based on reports from 2005 and 2008 respectively). This really is along with the expense of operation and maintenance. The smaller town, the more the per capita cost.

Asset management is a course for inventorying, evaluating and planning for assets to ensure that utilities can make more effective and efficient choices¬†krungsri asset¬†in how to buy their infrastructure. This can be a daunting task because asset management can be 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 start using asset management.

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

It is much 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 with high priority assets. You could choose sets of assets centered on type, location, age and other factors crucial that you your utility. A typical place to begin in a drinking tap water system may be storage tanks. In a wastewater system, you could start with pump stations. From there you could add pipes, treatment, sources and other assets one group at a time.

Begin with General Information and Add Details as Needed
Information technology has managed to get possible to keep an eye on a lot of information about your assets. Collecting, coding and entering that data can be extremely time consuming.

You can simplify this by choosing in the first place general information about your assets. Start with information that will allow you to recognize particular assets and prioritize them for possible inspection, refurbishment or replacement.

You can add more details over time. As you choose what details to include, consider if they will allow you to 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 situation of a utilities major assets can seem like 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 one’s body since it was built. The engineers who prepared these documents may be able to supply you with electronic plans you might be able to put right into a GIS.

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

Understand that as you begin your asset management program, you’re not beginning with scratch. You will probably have a lot of information 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 assist you to deal with this pressure by improving and justifying your decisions about infrastructure investments. Starting a resource management program can seem like a huge task, especially in light of all the data that will go into it, but you can begin sooner as opposed to later by starting small and building from there.

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