ABSTRACT
This proposed method for asset lifecycle management is based on a three step approach: (1) ageing modelling, (2) risk-based prioritization of maintenance actions and (3) long term simulations for life cycle cost considering CAPEX, OPEX and risk. It is applied to water storage reservoirs owned by Northumbrian Water Ltd. (NWL) to provide advanced analytics which are used to make better informed decisions in the context of Reliability-centred Maintenance (RCM). Gaining new capabilities in the digitizing of the ageing of water retaining civil works and their related risks were a key step in adopting a more predictive maintenance approach and to find the right balance between performance, risk and costs.
