We are delighted to have had our abstract entitled 'Bridging the Data Gap in Asset Optimisation' selected for presentation at this year’s IAM Asset Management Conference in London.
Bridging the Data Gap in Asset Optimisation
Significant investment is being made in the procurement and implementation of cutting edge decision support software and systems within the UK water industry. However, there is often little acknowledgement of the transformation required in asset data to fully unlock the value from this investment. Although there is general acceptance that issues exist in terms of asset data quality and integration, the importance of developing new asset management focused data and data models, is often underestimated.
Our paper will make the case for collecting new asset and environmental data, and the significant benefits that this brings to improving asset optimisation. By drawing on the experience of a UK water utility, we will present a case study and direct comparisons between using only existing corporate data, and augmenting new data collected in the field, as well as generated through desktop analysis. This will focus on strategic water infrastructure assets and the process for defining and quantifying asset criticality and integrity.
A staged approach was employed in building the data set which clearly shows the layers of data added at each stage. The presentation will demonstrate the step change in understanding and validation that came with each new layer, and the impact that this had on the decision-making process. This will include the influence enhanced data had on needs identification, prioritisation, stakeholder engagement, risk management and overall business planning.
A joint presentation will be carried out by Sarah Noonan and Ross Fisher of Minerva.