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 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 another 20 years (based on reports from 2005 and 2008 respectively). That is in addition to the price of operation and maintenance. The smaller town, the greater the per capita cost.

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

Implement Asset Management in Phases
Section 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). An electricity 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 much better to use asset management in its entirety to a manageable subset of assets and increase it over time. In this way you can begin experiencing the benefits of it and gain practice for larger asset sets.

Start out with high priority assets. You could choose categories of assets centered on type, location, age and other factors very important to your utility. An average place to start in a normal water system may be storage tanks. In a wastewater system, you could focus on 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 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 out with information that allows you to identify particular assets and prioritize them for possible inspection, refurbishment or replacement.

You could add more details over time. As you select what details to add, consider whether they will help you 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 condition of most a utilities major assets can seem such as an overwhelming task. Fortunately, you most likely have a lot of useful information already.

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

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

Remember that as you begin your asset management program, you’re not beginning with scratch. You will probably 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 help keep rates for his or her services affordable. Asset management can assist you to deal with this specific pressure by improving and justifying your decisions about infrastructure investments. Starting a tool management program can seem such as a huge task, especially in light of all of the data that may get into it, but you can start sooner rather than later by starting small and building from there.

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