Effective Implementation

Some of the largest benefits capable of being derived through advanced asset management involve the development of appropriate intervention strategies for multiple like assets.

The detailed analysis of generic models of the multiple like assets owned by any organization often identifies benefits that can be multiplied hundreds or even thousands of times across an entire system or asset portfolio.

Most service authorities have many groups of like assets and a filtering system is needed to prioritize those for detailed analysis and the development of optimized generic models.

Using the standard benefits based techniques, the key drivers for such a filtering or prioritization system become those assets, or groups of assets:

• With a high consequence of failure.
• With high utilization.
• Whose life extension is justified within the overall strategy.
• Whose total value represents the greatest net value to the organization.
• Those have the highest average age.

Those are identified in the total asset management plan as key cost factors in the 15-year business plan.