Flashcards
Asset Management
Cards in this deck (32)
- 1Asset DefinitionObject (physical or intangible) that has an identifiable value and useful life of greater than 12 months
- 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 - 3Challenges and opportunities in Asset Management (competencies)- Environment
- Accounting
- Financial
- Emergencies
- Maintenance
- Management
- Clients
-Procurement
- Innovation - 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 - 5Why rate roads?- Anticipate treatment windows
- Measure condition
-Measure of accuracy
- Measure of network change - 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 - 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 - 8Service CycleHow big is the network? And how long will it take to service the entire network vs. it's life
- 9Infrastructure RequirementsNeeds to accommodate structural and environmental loading and be regularly maintained. Good management increases asset valuation, poor management loses it.
- 10Three goals of infrastructure design- Cost effective solution
- Address deficiencies
- Satisfy constraints
Overall needs a thorough evaluation - 11ESALEquivalent number of 80 kN single axle loads
- 12Key considerations for selection of feasible alternatives- Condition assessment
- Performance experience
- Safety concerns
- Capacity needs
- Availability of resources
- Cost effectiveness
- Contractor availability - 13Network needs analysis and priority programmingEstablish levels of service with trigger values in following areas:
- Pavement Health
- User costs
- Maintenance costs
- Depreciated value - 14Book ValueCurrent value based on replacement costs depreciated to current condition of asset
- 15Replacement CostCost to replace
- 16Market ValueEstimate of price buyer is willing to pay
- 17Equivalent present costHistoric cost adjusted for inflation and worth in place
- 18Productivity realised valueNet present value of benefit stream for remaining service life
- 19Net Present ValueCost of all activities completed for a time = 0 , allowing for discount rate
- 20Sources of initial construction costsMaterial, labour and traffic cost
- 21Rehabilitation definition and cost sourcesMajor interventions to restore.
Labour, materials and traffic control - 22Maintenance definition and cost sourcesActivities to slow deterioration
- Labour, materials and traffic delay costs - 23Typical construction cost percentagesInitial construction - 70 - 90%
Rehabilitation - 10 - 25%
Maintenance - Almost no effect
Salvage/Terminal Value - Very little +ve effect - 24Three typical user costs for roads- Vehicle operating costs
- User delay costs
- Crash costs - 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 - 26QualityPerception of the degree to which the product or service meets the customers expectations
- 273 Components of quality management- Quality Control
- Quality Assurance
- Quality Improvement - 28Quality ControlObservation techniques and activities used to fill requirements for quality.
e.g. Checking drawings, checking calculations, reviews - 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 - 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) - 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 - 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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