The Five Core Components of Asset Management
What is your story? Asset Management tells your story in 5 chapters, the 5 core components. The resources found here will help you understand each of the five core components.
What assets do you manage, where are they, what condition are they in, what is their useful life, how much are they worth, and what is their energy use?
Do you have funding sources to provide the capital you need for O&M, capital replacement and energy efficiency improvement?
What level of service do you want to provide for your customers? How will you measure performance?
Is there a strategic plan for operating and maintaining system assets? Is a process, based on risk, in place to determine when to repair, rehabilitate or replace assets? Are you considering energy efficiency?
What is the overall business risk based on probability and consequence of asset failure? Is there redundancy to reduce risk?
