Course overview
This course will provide delegates with an intermediate level of knowledge of how to take a risk-based approach to asset management, extracting best value from planned maintenance and making wise investment decisions by balancing probability and consequences of failure with costs of remediation, illustrated through industry frameworks and best-practice case studies. Upon completion, learners will be able to:
- Understand the application of the maintenance expenditure decision-making framework gained through application to ‘real world’ situations.
- Use methods to evaluate risk of failure of critical water assets.
- Perform fault tree and event tree analysis.
- Make informed decisions about asset maintenance based on cost-effectiveness and risk reduction.
Who can benefit?
Delegates may include graduates, mid-career, and middle management professionals in the water industry involved in asset planning, investment planning, asset strategy, and data science. Participants may also be drawn from any area of business or service where effective risk management, maintenance planning and investment is required for decision-making.
Attendees will have a prior basic knowledge of asset management and maintenance for water networks and/or will have completed the preceding course: Risk-Based Planning of Water Assets (Stage 1).
Training outline
Training includes a refresher of key asset management practices before using two water network case studies to apply these risk-based approaches to help determine system resilience and assess consequences of asset failure. An end-of-course multiple-choice quiz demonstrates effective knowledge transfer.
Fundamentals of Modern Maintenance Management Practices:
- Refresh understanding of asset management practices and best-practice decision-making frameworks for planning and forecasting maintenance expenditure.
Applying Expenditure Decision-Making to Water Network Assets: A best practice framework illustrated step-by-step
- Case Study: Quantifying risk on critical strategic mains: UK Water Company client needing to understand the level of risk they are carrying within their strategic trunk main network. Includes interactive exercises where learners will: (1) quantify burst probability and and loss of supply consequences; and (2) identify and select appropriate actions for critical trunk mains with high-consequence risk and high-probability failures.
- Case Study: Taking a systems approach: Client needing to identify risk of loss of supply under a predicted peak demand scenario, with particular focus on the resilience of the supply between the water treatment works and the city. Includes interactive exercises where learners will: (1) use case study data to select methods to forecast risks for a treated water storage reservoir; (2) short-list actions to reduce probability of failure for strategic trunk mains; and (3) create an investment plan by weighing up total costs and whole-life benefits of different investment options.