4C: Asset Replacement Modelling – The Value Creation via Replacement of Assets
Date & Time
Tuesday, May 7, 2019, 11:30 AM - 12:00 PM
This presentation discusses the recent experiences of Asset Replacement Modelling software implementation carried out by the City of Coquitlam. In this milestone completion, of its four-year asset management initiative, Coquitlam has combined a suite of asset management concepts, decision logics, data, and technology in a highly effective modelling platform coupled with a spatial review tool to make informed decisions related to its asset replacement decisions. The presenter, with a $8 billion asset dealing experience, will show how asset replacement decision making is modelled using complex multi-factor decision criteria involving risk, condition, value-for-money concept, level of service, operational cost, and sustainable financing, all in an empowered decision making model. The presentation will explain how an innovative cross asset optimization concept involving block polygons were utilized for effective synergizing and value creation. The presentation will showcase the presenter’s experiences: the progresses and pitfalls experience in the replacement model development and implementation, end to end – from requirement specification to employment of model outputs to replacement program development. The audience will learn: a) Concepts related to asset replacement modelling; b) How to select the appropriate software; c) Dos and Don’ts for project success; and d) How to employ change management.
Location Name
Full Address
Delta Hotels by Marriott Grand Okanagan Resort
1310 Water Street
Kelowna BC V1Y 9P3