![Step 3: Find out the life expectancy of components
Use sources such as: “Expected
Useful Life; find life expectancy of
water system components. (See also
Expected Useful Life of Water System Assets (*1)
other sources)
Last update: 1 Feb 2013
*1: Source: BC MOE Water Branch: Depreciation Rates for Water Systems
Use flexibility in defining an “asset”:
Some “assets” may consist of a single
component such as a pump.
Other “assets” may result from the
combination of several components
(E.g. pumping station > includes pumps,
pipework valves and other items).
Consider grouping components of
similar life expectancy as one
“asset”; for example group curb
stop and corporation stop valves
together.
Note: This table does not contain all possible assets. If
you have an asset not on this table, please make your
best estimate of the Expected Useful Life (aka Service
Life) and continue with the process. Don't allow this to
hold you up.
Acct No.
A
304
304.1
304.2
304.3
304.4
304.5
305
305.1
305.2
305.3
306
306.1
306.2
Account Title
Source of Supply Plant
Structures and Improvements
Wood Frame
Steel
Cement Block
Reinforced Concrete or Brick
Miscellaneous
Collecting and Impounding Reservoirs
Wood Structures
Earth Fill Structures
Concrete Structures
Lake, River and Other Intakes
Wood Structures
Concrete Structures
Prescribed
Service Life
SL
[Years]
30
40
40
50
25
35
60
75
35
60](https://image.slidesharecdn.com/bmpa18jun13-131025163509-phpapp02/85/Bmp-A-test-updated-18-jun13-9-320.jpg)
Bmp A (test, updated) 18 jun13
- 1. One of a series of financial Best Management Practices (BMPs) for community water systems in BC
- 3. BMP E: Create a Basic Asset inventory (Table of Contents : click on the link to go to an individual slide) Welcome Introduction to slides Outline of BMP What and Why? Challenges & Benefits Main Steps 1: Create a Plan of Your System 2: Identify and List System Assets 3: Find Out Life Expectancy of Components 4: Work Out the Remaining Service life of Each Asset Thanks for Your Attention Closing Comments Next slide > 3
- 4. Basic Asset Inventory What and Why? What is an asset inventory? A list of items of value owned by the water system, with information about each. May include: manufacturer name and model number installation date & original cost. condition of the asset & remaining useful life. Why needed? Increases knowledge of the system, gives specific information for better financial decisions. Helps schedule repairs and replacements & to get greatest value possible from assets. If you don’t know what you have, you can’t manage it effectively.
- 5. Challenges and Benefits Challenges to Overcome Don’t know what you have, it’s condition, or when it needs to be renewed. Have unexpected failures because you don’t know the condition of components. Don’t know how much money to set aside to renew assets. Cannot explain properly to customers why $ needed to renew assets. Benefits of an Asset Inventory Shows strengths and weaknesses of physical assets, > helps to avoid problems with operation and water quality. Enables planning for replacement and renewal and to know when $ must be spent. Provides overall picture of system, and helps sharing with customers & regulators. Enables more efficient emergency response Enables operator succession planning Enables inventory for emergency repairs.
- 6. Main Steps Step 1: Create a plan of system Step 2: Identify and list system assets Step 3: Find out life expectancy of components Step 4: Work out the reaming service life of each asset
- 7. Step 1: Create a Plan of System Create a clear and current plan of water system Information on system can come from: As-built plans manuals and purchase receipts well logs Construction Permits maintenance logs water system risk assessment reports land surveys past annual reports Check original as-built plans and update them with any recent additions or replacements. A scale plan may help identify components, lengths and sizes. Keep updated files in a secure location for future reference.
- 8. Step 2: Identify and list system assets Collect information about assets and record in a systematic way. Record the following information for each: Condition Age Service History History of breaks and malfunctions Useful life. Use computer spreadsheet if available. Get the best information possible; don’t get bogged down. Use estimates where incomplete information New information will become available as assets get replaced . A1. Asset Inventory System: Duck Creek Water System Ref Asset Description 1.1 150 mm dia. PVC watermain Reference to suit Refer to drawings or specs; make site measurements; & describe asset Completed By: Fred Smith Quantity Unit 330 m. Year Installed Current Condition 1989 good Use metric units if possible E.g metres, square metres, cubic metres etc. or "Item" Last Update: 1st February 2013 Service History Current Age in Years annual flushing Use "good", "fair", "poor" or other ratings Describe, where known 23 See Tables Expected Adjusted Useful Useful Useful Life Life Life Left 60 56 33 Adjust with reference to to condition Subtract Current Age from Adjusted Useful Life
- 9. Step 3: Find out the life expectancy of components Use sources such as: “Expected Useful Life; find life expectancy of water system components. (See also Expected Useful Life of Water System Assets (*1) other sources) Last update: 1 Feb 2013 *1: Source: BC MOE Water Branch: Depreciation Rates for Water Systems Use flexibility in defining an “asset”: Some “assets” may consist of a single component such as a pump. Other “assets” may result from the combination of several components (E.g. pumping station > includes pumps, pipework valves and other items). Consider grouping components of similar life expectancy as one “asset”; for example group curb stop and corporation stop valves together. Note: This table does not contain all possible assets. If you have an asset not on this table, please make your best estimate of the Expected Useful Life (aka Service Life) and continue with the process. Don't allow this to hold you up. Acct No. A 304 304.1 304.2 304.3 304.4 304.5 305 305.1 305.2 305.3 306 306.1 306.2 Account Title Source of Supply Plant Structures and Improvements Wood Frame Steel Cement Block Reinforced Concrete or Brick Miscellaneous Collecting and Impounding Reservoirs Wood Structures Earth Fill Structures Concrete Structures Lake, River and Other Intakes Wood Structures Concrete Structures Prescribed Service Life SL [Years] 30 40 40 50 25 35 60 75 35 60
- 10. Step 4: Work out remaining service life of assets Knowing when to repair, rehabilitate, or replace an asset will help get the most value from assets. A1. Asset Inventory System: At some point, continuing to repair will no longer be cost-effective > need to rehabilitate or replace it. Several factors can affect remaining service life: quality of routine servicing and maintenance excessive use environmental conditions such as poor source water quality, soil quality, and climate. Use local knowledge plus manufacturers’ recommendations in working out remaining service life. Assets in poor condition, not regularly maintained, or subject to excessive use will be at the lower end of the expected useful service life range. Duck Creek Water System Ref Asset Description 1.1 150 mm dia. PVC watermain Reference to suit Refer to drawings or specs; make site measurements; & describe asset Completed By: Fred Smith Quantity Unit 330 m. Year Installed Current Condition 1989 good Use metric units if possible E.g metres, square metres, cubic metres etc. or "Item" Last Update: 1st February 2013 Service History Current Age in Years annual flushing Use "good", "fair", "poor" or other ratings Describe, where known 23 See Tables Expected Adjusted Useful Useful Useful Life Life Life Left 60 56 33 Adjust with reference to to condition Subtract Current Age from Adjusted Useful Life
- 11. Thanks for your attention. To summarize: A Basic Asset inventory is a list of the items of value in your water system, with information about each item. Click on the link below to return to the Contents slide at the start of this BMP. There is also a link to the Master Contents. Return to BMP Contents > Return to Master Contents > 11
Editor's Notes
- #4: Here is the Table of Contents for these slides. Click on the link to go to an individual slide.