How can asset management techniques help resolve the, issue of an aging asset base?

Utilities are facing the prospect of increasing asset age profiles in their asset base. Operational managers face regulatory and business pressure to fully justify their expenditure proposals - it is clearly important to be able to demonstrate that money is being spent wisely - on the right assets, at the right time. Budget holders need to be able to demonstrate a systematic, logical, auditable and risk-based methodology for their policy and expenditure decisions on inspection, maintenance and replacement of assets. The presentation will focus on the benefits of a ´cradle to grave´ approach to asset management and present some of the work being undertaken in the asset management community to create common understanding of the issues, principals and practices in asset management that have drawn from practical experience across industry.