A Clear View: Applying risk management and financial analysis to asset management planning

摘要

This paper describes how a long-term master plan can deliver major savings and establishes a clearrelationship between budget and service level. Given the complexity of urban infrastructure, decision makingshould not be based on intuition alone; it must be based on facts. A good maintenance model should include expertengineering know-how, vision related to the assets under analysis, and financial/risk know-how (financial analyst),in order to combine actual and future asset condition, maintenance and investment policies, and historical andforecasted asset behavior to understand the relationship between all these elements. A solution that uses advancedtechniques in financial/risk modeling and computing optimization exists, and has been successfully applied in manyorganizations over the last decade to develop long-term capital investment plans for asset sustainability.Infrastructure aging poses a significant challenge to society. Given the risks and uncertainties involved inmaintaining infrastructure, the use of an Integrated Decision Support System (IDSS) is a must. Using aging modelsand decision trees, an IDSS provides the ability to simulate any number of scenarios (using the Monte Carlotechnique) in order to identify the most economical solution for achieving the desired level of service. The array ofavailable actions (e.g. repair, rehabilitation, replacement, etc.) is geared not only towards getting the most out ofavailable resources (human and financial), but also towards ensuring that the minimum quality/safety threshold ismaintained in the long-term for asset sustainability. Optimizing decision making in the context of aginginfrastructures and restrained budgets is the key to asset manager survival in the next decades!This presentation is aimed at treasurers, engineers, asset managers and general managers who have at heart thesound management of public funds. From theoretical concepts and practical examples, learn how the theory of riskmanagement can be applied specifically to asset management of urban infrastructure.