Maybe you are applying for state revolving fund loans (or worse, in regulatory crosshairs preparing to address asset management requirements) and need to illustrate elements of an asset management plan are in place. Perhaps you need to plan for looming asset failures, but you’re not sure what to do, when they’ll fail, or how to pay for dealing with the problem. Using a simple asset management framework, utilities can gain a better understanding of what assets they own, their condition, and the risks those assets pose. The utility can then focus its efforts in the right places, maximizing its resources to reliably provide service to customers.
This can be accomplished through the development of a practical asset management plan. This presentation will cover the key elements of an asset management plan, including service levels, development of an asset register, understanding the condition of assets, knowing which assets pose the highest risk to the utility and therefore warrant the most attention, and developing an emergency preparedness plan. This framework is simple and in line with US EPA’s asset management framework.