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 is an importance of $276.8 billion in improvements in drinking 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). That is along with the price of operation and maintenance. Small the community, the higher the per capita cost.

Asset management is an application for inventorying, evaluating and planning for assets in order that utilities could make far better 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 begin using asset management.

Implement Asset Management in Phases
Part 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). 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 better to apply asset management in its entirety to a manageable subset of assets and enhance 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 could choose categories of assets centered on type, location, age or other factors very important to your utility. A typical place to start in a drinking water system may be storage tanks. In a wastewater system, you might start with pump stations. From there you can include 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 record a lot of details about your assets. Collecting, coding and entering that data can be very time consuming.

You can simplify this by choosing to start with general details about your assets. Begin with information that will allow you to identify particular assets and prioritize them for possible inspection, refurbishment or replacement.

You can add additional information over time. As you decide what details to include, consider whether they will allow you to make smarter decision about where to 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 such as 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 inform you a great deal 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 in to a GIS.

Utilities will also be regulated by utility, environmental and health agencies. State agencies could have a wealth of information in your utility and its assets, and it could be available in electronic formats. These agencies make periodic inspections of facilities that 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 details about your assets and their condition at hand.

Utilities are face with enormous needs for infrastructure improvement and pressure to help keep rates because of their services affordable. Asset management can help you deal with this specific pressure by improving and justifying your decisions about infrastructure investments. Starting an advantage management program can seem just like a huge task, especially in light of all of the data that will get into it, but you can start sooner rather than later by starting small and building from there.

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