Incorporating Condition Assessment into a Comprehensive Asset Management Program

In order to improve asset investment decision-making and achieve sustainable improvements in business performance, utilities must better understand asset condition, asset performance, remaining life and risks. Worldwide, annual expenditure on the maintenance and rehabilitation of water/wastewater reticulation pipes is estimated to be over 33 billion per year, and this is expected to rise significantly over time as aging assets continue to fail at an ever-increasing rate. The long-term cost implications for a utility with a poorly structured replacement/renewal regime can be dramatic. A formal asset management program can help this problem.A formal asset management program that includes condition assessment can enable an organization to better understand asset condition and remaining life allows for proactive budgeting for renewal/replacement of expensive and high-risk assets.This article will discuss how condition assessment relates to asset management; how to set up a targeted condition assessment program to support asset management; and how condition assessment data can be leveraged to support decision-making.