Asset Management – what it is (and isn’t). 2013 WASHINGTON STATE PUBLIC TRANSPORTATION SYMPOSIUM Darin Johnson, BIS Consulting. Introduction to BIS. Key Services Decision-support for power and water utilities, transit agencies. Health Indexing, risk assessment. Third-party business case.
2013 WASHINGTON STATE PUBLIC TRANSPORTATION SYMPOSIUM
Darin Johnson, BIS Consulting
Asset management bridges this gap
“…total benefits of a project
to whomsoever they accrue
exceed the costs of that project.”
There is a time to pursue good data collection, storage and access; analytical tools; and integration. That time is not at the beginning.
Technical approach fails to consider risk quantitatively
40% reduction in capital
15% reduction in life-cycle
Calculating annual risk
330-year event: $870
224-year event: $1,000
72-year event: $7,200
Total annual seismic risk at Vashon Island trestle = $1.5 million
Minimum life-cycle cost
FinancialBenefits should be defined in terms of the things that matter to your stakeholders
Big decisions are usually about trading dollars for service…
Level of Service
I’d pay $100 for this service.
We’d each pay $5
…”dollarizing” is unavoidable.