Asset management is more than just asset maintenance – it is an absolute necessity to ensure your organisation runs both efficiently and effectively.
In line with ISO 55000, asset management is about realising value from your assets by balancing lifecycle cost, risk and performance to meet organisational objectives. This is enabled by good asset knowledge, technical understanding of the asset’s performance over time, data-driven decision-making and digital tools.
The goal for maintenance is to prevent or mitigate the deterioration of assets and manage the risk of failures. It is good asset-management practice to have a maintenance strategy to ensure a predictable and acceptable level of performance throughout the useful life of the asset. This would include inspections, testing and monitoring, and preventative maintenance regimes (time-based or condition-based).
The diagram in this article illustrates the optimisation of an asset level decision regarding an interval-based maintenance task to mitigate a failure mode, where the risk of failure increases from the time of maintenance eventually leading to failure. The more frequently the task is carried out, the higher the annual cost of planned maintenance and the lower the risk of a failure. The optimal point is where the total business impact is lowest.
Duratec supports asset owners to maximise value from their structural assets through:
- Asset condition assessments with spatial integration and 3D reality modelling
- Field data capture for updating asset registers and recording physical attributes
- Durability and materials engineering
- Deterioration modelling and remaining life assessment
- Design and specification of asset maintenance, protection and corrosion control (repair and prevention strategies)
- Multi-criteria options analysis (MCA) to support decision-making
- Criticality and asset risk assessments
- Lifecycle maintenance plans
- Asset management plans
- Durability plans
- Data-driven decision-making
- Budget estimates for repair/renewal programs
- Project management
- Delivery of asset maintenance, renewal, rehabilitation and protection for service-life extension
Asset management for the Sydney Harbour Federation Trust
Duratec, supported by AECOM, has demonstrated this capability recently as managing contractor for the Sydney Harbour Federation Trust’s asset maintenance program. As part of this project, Duratec supported the Harbour Trust by:
- Defining a suitable condition assessment and criticality framework to enable data-driven decision-making based on required levels of service in collaboration with the Harbour Trust
- Improving asset information – condition assessment and asset register update of the Harbour Trust’s asset portfolio, comprising 277 buildings, 35 marine structures, pavements, rock cliffs, tunnels and 284 miscellaneous structures across six sites; many of these assets had high heritage significance
- Prioritising maintenance and repairs based on the criticality framework
- Developing asset management plans (AMPs) and a strategic asset management plan (SAMP) in line with ISO55001
- Developing a program of high-priority maintenance work, which is now being delivered
Identifying the amount of funding required to maintain the assets in acceptable condition
About the author
Phil Karajayli is Duratec’s Technical Manager – Eastern States. He is a chartered engineer with more than 22 years’ experience in civil infrastructure condition assessments, repair and protection, lifecycle maintenance planning, durability planning, cathodic protection and asset management.
His experience spans a wide range of industries and infrastructure, including utilities, water and wastewater assets, tunnels, bridges, buildings, maritime structures, culverts and various other
types of civil structures.
Phil is a specialist in asset management and he is currently working on the aforementioned Sydney Harbour Federation Trust project for Duratec.