Chesapeake Water Environment Association - Event Information
Asset Management - CWEA Monthly Webinar
Presentation 1 - Leveraging an Advanced Asset Management Framework to Optimize Investment Decisions Kevin Slaven (firstname.lastname@example.org), Asset Management Practice Leader, Arcadis
Mr. Slaven specializes in asset management services and brings over seventeen years of experience. He has assisted clients with the development of asset management programs that include performance management, risk management, and investment optimization. He is a member of AWWA’s AM Committee. He is certified by IAM as an asset management practitioner and recognized IAM Endorsed Assessor.
According to Bluefield research, utilities can realize a savings of up to $17B by implementing an advanced asset management framework. This presentation will discuss what an advanced asset management program should include and how some utilities have started implementing these programs. We will discuss the difference between traditional asset management (focused on physical assets, historical data, and prioritizing capital expenditures) and advanced asset management (focused on total assets, real-time data, and optimizing total expenditures).
Asset management is switching from a best management practice to a regulatory driven requirement. The presentation will discuss what industry best practices are, as well as what the state and federal requirements are for asset management. There will be a brief overview on the state specific requirements and how the requirements are being enforced. We will discuss the difference between traditional asset management (focused on physical assets, historical data, and prioritizing capital expenditures) and advanced asset management (focused on total assets, real-time data, and optimizing total expenditures). Utilities have been implementing traditional asset management programs for decades, but the investment gap is still growing. According to Bluefield research, utilities can realize a savings of up to $17B by implementing an advanced asset management framework. This presentation will discuss what an advanced asset management program should include and how some utilities have started implementing these programs.
We will compare the US in terms of asset management regulations and maturity to countries that require asset management programs. The US water market has been resistant to the adoption of technology. We will discuss how to leverage advanced analytics to optimize expenditures for utilities throughout the US. We will show how your asset management program can leverage database profiling tools, mobile applications, 360 imaging, business intelligence dashboards, and advanced analytics. We will show examples of BI dashboards for linear and vertical assets to make informed risk-based investment decisions. The mobile applications, 360 imaging, and BI dashboards will show the evolution of data collection and reporting for utilities.
We will discuss the processes and procedures that the utilities went through to close gaps and how the tools and analytics were utilized. We will also discuss how the utilities implemented a risk framework to evaluate their risk of failure using the tools described above. The term “risk-based” is used to highlight the need to focus investments on the most critical projects and address an environment of increasing infrastructure needs and funding constraints. The risk-based approach includes training and methodology workshops involving many elements of an organization such as engineering, operations, maintenance, IT and finance. We will discuss the typical workshops that are required to establish formal and consistent processes and procedures for asset definition, inventory, condition assessment, consequence of failure, and risk assessment. These workshops allow utilities to implement effective change management protocols for staff to effectively identify and prioritize major capital and maintenance projects. The outcomes provide enhanced long-term forecasts that support sustainable financial planning and communicate and strengthen relationships with stakeholders.
Presentation 2 – Advancing Asset Management Performance Frameworks: Looking beyond physical condition Bola Fashokun (Bola.Fashokun@wsp.com), Lead Consultant – PM/CM, WSP USA
Mr. Fashokun has over 20 years of technical and project management experience in civil, water resources, and environmental engineering projects. He specializes in utility asset management, planning and design related to water, wastewater, and stormwater management. He has been on both the consulting and client side of asset management developing asset management frameworks, performing decision modeling, delivering advanced asset management plans, exploring new technologies, and mentoring the asset managers of the future.
This presentation advances the case for the practical use of performance condition toward an advanced asset management risk framework. Asset condition assessment and likelihood of failure attributes tend to focus on physical condition attributes. This webinar seeks to present the scalable incorporation of failure predictors beyond the physical condition of an asset that can be used effectively for both asset capital and O&M decision support.
Asset management requires the balancing act of minimizing risk, maximizing levels of service output, and minimizing cost to achieve optimum intervention plans under resource and other constraints. Several utilities have invested in advancing their asset management programs to improve condition assessment and consequently, improve the confidence levels of asset likelihood of failure. This is typically done toward the objective of proactively addressing critical assets prior to failure. However, this has not necessarily translated to a reduction in reactive intervention especially related to assets that were not projected for near term renewal or effectively addressing asset needs during renewal. A primary reason is that failures beyond physical mortality are not properly accounted for in the asset condition and failure probability.
Performance knowledge of the condition of an asset is integral to the successful projections that facilitate the move from reactive to proactive intervention for critical assets. The presentation will provide an overview of the traditional asset failure modes – physical condition, capacity, levels of service and financial efficiency - and discuss their use in more advanced performance frameworks. Discussion will include the connection between asset condition, the risk-levels of service-cost triangle, and failure criteria.
Framework examples will be illustrated with assessment criteria and practical measurements that are applicable to Water, Wastewater, and Stormwater assets. Applicability at the asset or higher level will be discussed and considerations to ensure effective use as decision support for capital or O&M plans.
Things to consider in the framework will include performance criteria, sub-criteria, assessment methodology, assessment frequency, data availability, data sources, gaps, cost to fill gaps, and potential proxies. The presentation also touches on the applicability of asset performance degradation curves and other projection methods.
There are lessons learned on the journey to an advanced performance condition framework and potential minefields will be discussed. Updates to the business process may be required and should show a return on investment. The practical outcome is a framework that leads to more accurate projections of needs and less reactive work orders.
12:00 PM - 1:00 PM Eastern
Outlook/ vCalendar/ Google:
Click on the icon next to the date(s) to add to your calendar: 10/28/2021