Regulatory pressures and stringent financial targets highlight the compelling need for practical / effective asset management and capital maintenance planning.
Broad, high-level approaches are typically used to estimate maintenance requirements for high risk assets, generally relying on expert opinion. The complementary approach is to use asset register data to quantify reliability / criticality, thus identifying high risk assets. Although this is well established within other process industries, many Water Utilities with asset registers are not yet optimizing their potential.
The project will:
- Assess the potential of asset register approaches to provide a practical methodology for improved capital maintenance planning.
- Establish why the approach is not being used to its full potential and recommend effective, achievable ways to improve the value of the asset register.
WRc is working with the Electricity Research Association (ERA) to incorporate their risk based planning expertise into the project.
Benefits to Clients
Through better understanding of and alignment with Utility information systems, the project will:
- Enable performance estimation and capital maintenance planning, based on a sound quantitative methodology.
- Permit better use of existing investments in asset management systems.
- Generate added value from the existing asset register and improved workforce efficiency.