Asset Decision Matrix – Phase 1: Deal with the Immediate Crisis
Asset failure is typically thought of in terms of mortality, i.e. that the asset has broken. However, an asset can be operating and still functionally fail due to regulatory, capacity, and/or financial considerations. For example, a utility could have a a pump that no longer meets capacity requirements, either due to changes to capacity or damage to the pump. This decision tree lays out factors to consider when determining whether to repair, rehabilitate, replace or abandon a failing asset regardless of the mode of failure.