All facilities and infrastructure assets deteriorate with time and use. To maintain the effectiveness and value of an asset, renewal work should be performed periodically. When the asset has reached the end of its useful life, it should be replaced.
At the heart of any life cycle management program is preserving the existing system's performance and reliability by anticipating future renewal and replacement (R&R) needs. Adequate and timely asset funding must be obtained.
The webinar includes key considerations for modeling and forecasting asset renewal and replacement for facilities and public infrastructure. Capital spending and maintenance funding aspects will be highlighted.
Case studies will be provided, including a review of forecasted and actual results 3 to 5 years after the original forecast. A live demonstration of one of the models will be provided.
The learning objectives include:
Understand the key variables for developing an asset renewal & replacement model.
Apply foundational concepts to building a model in @Risk.
Develop approaches for addressing key approaches and pitfalls.
Understand how outputs can be used to communicate results effectively.
Identify additional resources.
Registration link
Lumivero recently acquired @Risk and the DecisionTools Suite. Lumivero offers custom-built software solutions that allow users to leverage tools to answer the important questions they are working to decode. Lumivero brings trusted research, decision-making, and organizational tools together that enable professionals to do their work efficiently and productively and to make decisions more confidently.
JD Solomon Inc provides solutions for program development, asset management, and facilitation solutions at the nexus of facilities, infrastructure, and the environment. Subscribe for monthly updates related to our firm.
JD Solomon is the author of Communicating Reliability, Risk & Resiliency to Decision Makers: How to Get your Boss’s Boss to Understand and Facilitating with FINESSE: A Guide to Successful Business Solutions.
