Maintenance based on level of risk and consequence of failure is the optimal solution and best practice for asset management. Risk-based maintenance incorporates some key issues not dealt with by other maintenance programs. It recognizes that:
Risk-based maintenance programs recognize that a facility does not have unlimited financial and personnel resources, and that the use of both must be prioritized and optimized. Follow the steps below to develop a Risk-based plan.
Your risk-based plan must include a standard for defining, identifying, and storing asset data to keep those data consistent and correctly labeled to best meet the utility’s needs. This is called an "asset inventory." Construction of an asset inventory allows an owner to prioritize the assets, calculate risk, and identify lifecycle costs. (Note, asset management and computerized maintenance management system (CMMS) software is ideal for preparing an asset inventory.)
To build the inventory, you should identify key attributes of each asset:
To prioritize assets, assign a "risk score." Consider each asset’s:
Lifecycle costing is a tool that uses information on owned assets, the function of those assets, and an assessment of which ones are critical to the sustained operation to help municipalities make informed decisions about operations and maintenance (O&M) and asset replacement. Although the lifecycle costing process is the most complex part of asset management, it allows the best use of limited dollars.
Having a completed asset inventory allows a municipality or utility to establish performance metrics and indicators for each asset, in the context of entire system, to meet system-wide Level of Service (LOS) standards. It is likely that some assets play a more critical role in meeting system-wide LOS standards than others. A utility can take the following steps to determine the key assets and performance indicators that should be monitored:
For gray infrastructure, conveyance pipes and ditches, vaults, ponds, tide gates, and mechanical systems can be monitored in terms of (a) functionality or (b) physical condition to determine a performance indicator.
For green infrastructure, vegetation/soil condition, sedimentation/debris accumulation, and ponding/infiltration (functionality) can be monitored to serve as performance indicators.
Examples of performance metrics may include:
Creating a stormwater Asset Management Plan (AMP) is the key step towards integrating your asset inventory, condition assessment, financial analysis, and other information into an asset management framework for your stormwater facilities and operations (as outlined below). The current best management practice for ensuring asset planning is through the development and implementation of an AMP.
Asset management planning consists of developing a plan to reduce costs of stormwater management while increasing the efficiency and the reliability of assets. An AMP incorporates asset inventories, operation and maintenance tasks, and long-range financial planning to ensure that annual revenue reserves and reinvestment are sufficient to facilitate long-term viability of the system.
The five major, generally recognized components of an asset management plan include the following items:
An AMP does not have to be complicated or lengthy to be useful. It can be a very simple document written in such a way that everyone can understand it. There are several actions you can take to get started on an AMP:
A stormwater AMP should provide: