SPEAKERS & SESSIONS
Meet the Speakers: Craig Edlund & Tacoma Zach
Session: Starting Right: Laying the Foundation for Successful Long-Term Asset Management Plans
Starting Right: Laying the Foundation for Successful Long-Term Asset Management Plans
In 2016, Metropolitan Council Environmental Services (MCES), which oversees water and wastewater for 2.9 million people in Minneapolis-St.Paul, launched an asset management program to address challenges of aging assets, rising debt service costs, knowledge loss, and increasing regulatory requirements.
MCES identified criticality analysis as a key first step in setting up the AM program for sustainable success. Historically, utilities that have implemented a criticality analysis have realized a 5% reduction in both capital and maintenance budgets within 12 months. MCES estimates that this criticality analysis initiative will achieve significantly higher savings in their capital and M&R budgets.
The future success of asset management programs depends on laying the right foundation at the start. A criticality analysis is a vital part of creating a framework for risk-based decision-making at the beginning of your program. This presentation will present key elements of this framework and a roadmap for successful asset management.