Asset Management – How to get started

Wisely and efficiently managing investments in assets is 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 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 expense of operation and maintenance. The smaller the community, the more the per capita cost.

Asset management is an application for inventorying, evaluating and planning for assets to ensure that utilities can make more effective 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 small utility might have many assets. Utilities don’t need to delay, but can 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 when it isn’t using that data to make 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. This way you can begin experiencing the advantages of it and gain practice for larger asset sets.

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

Start with General Information and Add Details as Needed
Information technology has caused it to be possible to record a lot of details about 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 details about your assets. Start out with information that enables you to identify particular assets and prioritize them for possible inspection, refurbishment or replacement.

You can include more details over time. As you choose what details to include, consider whether they can help you 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.

Go through the Information You Already Have
Identifying, locating and assessing the problem of a utilities major assets can seem 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 let you know a whole lot about the body because it was built. The engineers who prepared these documents may be able to supply you with electronic plans you might be able to put into a GIS.

Utilities may 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 might be obtainable in electronic formats. These agencies make periodic inspections of facilities that’ll include conditions assessments.

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

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