Root Cause Analysis, Business Cases, FMEA, Fault Tree Analysis, and Monte Carlo Simulations will be covered.

Guesstimate blend of the words “guess” and “estimate.”

...let's start with the difference between criticality and risk in your asset management program.

Context is fundamental to all, including the international standard for asset management and the international standard for risk management.

All facilities and infrastructure assets deteriorate with time and use. To maintain the effectiveness and value of an asset, renewal work...

The purpose of a useful life estimate is to determine how long an asset will remain in useable condition. "Useful life" is not the same...

Monte Carlo analysis or Monte Carlo simulation is a technique used for forecasting which considers uncertainty and variability. As an...

Monte Carlo analysis has some key limitations which make the technique a major cause of concern for new project development. This article...

Probability Distributions The probability density function (PDF) is applied to continuous random variables, whereas the probability...

Monte Carlo simulations are the best approach for assessing uncertainty for future infrastructure and facilities funding requirements....

Understanding the total cost of ownership is a fundamental principle of asset management of facilities and infrastructure. However, all...

Drinking treated wastewater is still a few years away because there is not enough demand for it. The technology exists that makes it...