Assessing and factoring risk for critical assets while balancing cost
Managing performance helps support organisational efficiency and growth, which is why Urban Utilities (Brisbane) wanted a clear understanding of how their assets were performing and working. The goal? To develop a consistent approach to assessing assets that prioritised repairs which aligned appropriately with budget constraints.
We reviewed key infrastructure such as water reservoirs, pump stations, trunk mains, rising mains, and wastewater treatment plants and incorporated them within the framework. Next, we conducted a series of structured workshops to acquire agreement from all teams and team champions, who were assigned to support the agreements into the future. The result? A risk-based decision framework that helps Urban Utilities manage the asset condition assessment process. Under this framework, high criticality assets with poor conditions are prioritised and are flagged for a secondary condition assessment. The framework and the identified renewals were incorporated in the capital investment program, ultimately achieving improved customer services and asset efficiencies.
The new workflow process helps our client categorise and manage their short- and long-term risk by combining their renewal needs and long-term funding requirements. Asset condition assessment and renewal capital funding helps them find future efficiencies and improves their way of working.
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