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Asset Management

Samuel Metcalfe ENCN371 Management Inglés 32 fichas

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  1. 1Asset DefinitionObject (physical or intangible) that has an identifiable value and useful life of greater than 12 months
  2. 2Key Elements of Asset Management- Finding required Level of Service
    - Knowing long term funding requirements
    -Asset condition and expected life
    - Knowing where money is spent
    - What assets are controlled/owned
    -Documentation of plans
    - Policy framework
  3. 3Challenges and opportunities in Asset Management (competencies)- Environment
    - Accounting
    - Financial
    - Emergencies
    - Maintenance
    - Management
    - Clients
    -Procurement
    - Innovation
  4. 4Four features of asset management system- Inventory (what you own)
    - Condition Measure (what shape is it in)
    - Prediction of future condition
    -Tools/Metrics for managing network
  5. 5Why rate roads?- Anticipate treatment windows
    - Measure condition
    -Measure of accuracy
    - Measure of network change
  6. 6Types of condition measuring systemsNeed a sustainable and descriptive system:
    Ordered state ratings - Criteria describes set of discrete, ordered states
    Index system - Relates physical measurements of distress extent and observer opinions to a numerical rating
  7. 7Ways to predict of future conditions- Rules of thumb (ie new asphalt lasting 14 years)
    - Traffic Volumes
    - Past experience
    = Modelling historic rating data
    - Forward looking models
  8. 8Service CycleHow big is the network? And how long will it take to service the entire network vs. it's life
  9. 9Infrastructure RequirementsNeeds to accommodate structural and environmental loading and be regularly maintained. Good management increases asset valuation, poor management loses it.
  10. 10Three goals of infrastructure design- Cost effective solution
    - Address deficiencies
    - Satisfy constraints
    Overall needs a thorough evaluation
  11. 11ESALEquivalent number of 80 kN single axle loads
  12. 12Key considerations for selection of feasible alternatives- Condition assessment
    - Performance experience
    - Safety concerns
    - Capacity needs
    - Availability of resources
    - Cost effectiveness
    - Contractor availability
  13. 13Network needs analysis and priority programmingEstablish levels of service with trigger values in following areas:
    - Pavement Health
    - User costs
    - Maintenance costs
    - Depreciated value
  14. 14Book ValueCurrent value based on replacement costs depreciated to current condition of asset
  15. 15Replacement CostCost to replace
  16. 16Market ValueEstimate of price buyer is willing to pay
  17. 17Equivalent present costHistoric cost adjusted for inflation and worth in place
  18. 18Productivity realised valueNet present value of benefit stream for remaining service life
  19. 19Net Present ValueCost of all activities completed for a time = 0 , allowing for discount rate
  20. 20Sources of initial construction costsMaterial, labour and traffic cost
  21. 21Rehabilitation definition and cost sourcesMajor interventions to restore.
    Labour, materials and traffic control
  22. 22Maintenance definition and cost sourcesActivities to slow deterioration
    - Labour, materials and traffic delay costs
  23. 23Typical construction cost percentagesInitial construction - 70 - 90%
    Rehabilitation - 10 - 25%
    Maintenance - Almost no effect
    Salvage/Terminal Value - Very little +ve effect
  24. 24Three typical user costs for roads- Vehicle operating costs
    - User delay costs
    - Crash costs
  25. 25Ways to minimize user delay costs? User delay costs can be very significant ie 670k in 24hour work zone opposed to 80k in 12 hour zone.- Adding capacity
    - Perform rehabilitation during off peak hours
    - Use longer lasting materials
    - Preventive maintenance
    - Using materials with faster construction sequences
  26. 26QualityPerception of the degree to which the product or service meets the customers expectations
  27. 273 Components of quality management- Quality Control
    - Quality Assurance
    - Quality Improvement
  28. 28Quality ControlObservation techniques and activities used to fill requirements for quality.
    e.g. Checking drawings, checking calculations, reviews
  29. 29Quality AssuranceA set of activities to ensure that products satisfy customer requirements.
    e.g. External quality audits, internal checks on anything out of the ordinary
  30. 30Quality improvementProduct improvement, process improvement and people based improvement.
    e.g. set up a quality management system, improve supply chain (LEAN), involving workers (to improve motivation)
  31. 31Past mindsets on quality- Increased quality will increase cost
    - Quality problems lead to blame, faulty justification and excuses
    - Quality is internally focused
    - Quality occurs at project execution
  32. 32Present mindsets on quality- Improved quality saves money and increases business
    - Quality problems lead to cooperative solutions
    - Quality is customer focused
    - Quality occurs at project initiation and must be planned for within project

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Asset management flash cards for scott kearney
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Samuel Metcalfe
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