Trenchless Technology

OCT 2018

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for more costly repairs. If the repair and rehabilitation work is not completed, the condition of the asset will progress to failure and need replacement, which is more costly that repairs. This system of insight allows utilities to determine how to prioritize maintenance dollars and capital expenditures as part of asset life cycle cost management practices. RISK-BASED ANALYSIS AND CRITICALITY SCORING In order to determine asset critical - ity, two questions must be asked: 1. What is the likelihood the asset will fail? 2. What are the consequences if the asset fails? These questions estab - lish two important asset valuations: the probability of failure (PoF) and the consequence of failure (CoF). To - gether, these factors can help rank as- sets and create meaningful arguments for capital improvement . PROBABILITY OF FAILURE (PoF) ANALYSIS The probability of failure relects an asset 's GIS attributes and considers W W W.T R E N C H L E S S T EC H N O LO GY.C O M 43 (Figure from " The 2016 Comparative Review: Municipal Maintenance and Infrastructure Asset Management Systems," Water Finance Research Foundation, 2016)

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