Advanced Asset Management

Where the basic functionality focuses on asset inventories, inspections, and maintenance, Advanced Asset Management provides tools for asset analysis, planning, and budgeting.

• The Level of Service (LOS) Calculator is a relatively simple asset analysis tool. You can use it to project the condition of a group of assets based on a certain budget amount, or to estimate the amount that is required to raise the assets' condition to a certain level.
• Asset needs analysis provides for more complex analysis and planning. Needs analysis uses agency-defined decision models to recommend maintenance activities for assets based on their current and projected conditions. A decision model indicates when an activity should be performed, and calculates the cost and benefit.
• Asset budget analysis supplements the needs analysis functionality. Based on the results of a needs analysis, you can create different scenarios to determine which of the recommended activities can be funded, and when.
• Risk management is used to calculate the risks associated with your assets. You can define various risk events, representing specific ways in which an asset can potentially fail, and you can estimate the probability and consequences of each event.
• Asset life cycle analysis provides tools for projecting the total costs of owning and operating an asset over its entire life.