Introduction to SIMPLE

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  Asset Management Tools Included in SIMPLE (03CTS14)

Tool Related Asset Management Step  Description
Asset Hierarchy/Registry
Develop Asset Registry 
Provides two working examples of a hierarchical asset register structure reaching down to a maximum of seven levels. Each includes above- and below-ground assets.
Condition Assessment Scoring
Assess Performance Failure Modes
This multi-attribute, condition-rating tool incorporates metrics of other performance-based attributes such as current operating performance and reliability across several major asset classes.
Condition Assessment Selection
Assess Performance Failure Modes
Web-based tool assists asset management and maintenance practitioners select appropriate condition assessment tools and techniques.
 Remaining Effective Life Determine Residual Effective Life  Helps determine remaining useful physical life based on age/design life modified by local factors. Incorporates a table of “default” useful lives for a wide range of assets.
 Life Cycle Cost Projection  Determine Life Cycle and Replacement Costs Facilitates systematic organization and projection of life cycle costs by major cost category for an asset or class of similar assets, based on identified cost trends.
 Level of Service  Set Target Levels of Service (LOS) Assists a utility to establish (and periodically measure) targeted and actual levels of service, both at the enterprise (strategic) and asset (operations) levels. Tool was developed using a “triple bottom line” approach (financial, environmental, and social/community/organizational perspectives).
 Business Risk Exposure Determine Business Risk Exposure  Aids in characterizing the business risk exposure (BRE) of the utility associated with assets through assigning risk scores to assets or groups of assets. Raw “risk” (business risk exposure) is score representing the probability of failure multiplied by the consequence of failure. Raw risk is then adjusted for mitigation actions.
 Maintenance and KPI Survey Tool with Case Studies Optimize O&M Investment  Survey instrument on maintenance leading practices and key performance indicators focuses on qualitative information on three areas of competency for best management practices related to maintenance combined with metrics. Covers three broad areas of competency both for the practice statements and the key performance indicators (KPIs) – Strategy and Tactics, Work Flow Management, and Managing and Monitoring. Case studies based on leading practice utilities are presented in the accompanying report.
 End of Asset Life Reinvestment  Optimize Capital Investment Assists asset managers determine which renewal strategy (maintenance/repair, refurbishment, and replacement) is most cost effective and when in an asset’s life cycle to transition from an operations and maintenance strategy to a capital investment (renewal) strategy. Integrates many of the tools incorporated in SIMPLE and adds an economic life component.
 Business Case Analysis   Determine Funding Strategy Assists practitioners evaluate, from a business metric perspective, the relative investment merits of a range of alternative management solutions, whether operations, maintenance, or capital. For further insight, the tool incorporates an optional Triple Bottom Line.
 Capital Improvement Project Validation/ Prioritization  
Optimize Capital Investment

Helps asset managers determine when a proposed list of capital investments is ready to move to a budget funding stage by assigning a “confidence level rating” for validation. Once validated, the tool assists in the prioritization of each project so that a specific CIP list can be adopted.
 Asset Management Plan Template  Build Asset Management Plan  Provides a set of investment strategies (integrating operations, maintenance, and capital investment) that constitutes, through step-by-step analysis, what is determined to be the best investment plan given a defined level of performance and service and a defined level of risk. Includes a set of basic templates to assist in constructing an Asset Management Plan.
 Strategic Asset Management Gap Analysis Tool
All 10 Steps  Provides an electronic self-assessment of asset management practices to create a profile to measure performance against over 170 of the best asset management practitioners of similar size and practice level (benchmarking). Generates a customized report with a prioritized task list for implementation of an improvement program.