Overview

Systems must collect information about assets that describe or details the features of the asset. There are many categories and labels that can be used when collecting information about assets. It is important for systems to identify what information is useful for planning, operating, maintaining, and replacing assets.  

Consider the following questions when developing the inventory:

• • • How does my utility define an asset? 

    • Where are assets located? 

    • What condition are assets in? 

    • What is the remaining useful life of the assets? 

    • What is the replacement value of the assets? 

In collecting information about assets, determine what data is useful for the utility’s planning and operations goals. It is often tempting to track every detail, but it is neither feasible nor cost-effective to collect every piece of data on every asset. Consider the following questions to determine which data to collect:

Possible Types of Data to Collect

The amount of data collected can be adjusted over time; additional details can be added and removed; however, it is best to carefully consider the data you want to collect at the very beginning so that the entire inventory does not need to be updated with each change. 

When considering what data to collect about the assets, keep in mind each asset category might need unique data sets. There is some information for each asset that is essential for a useful asset inventory. 

• Type of asset 

• Location of the asset 

• Size of asset (e.g., diameter, length, area, height, volume, treatment capacity, etc.) 

• Installation date  

• Restoration date (if applicable) 

• Condition 

• Estimated replacement cost 

• Remaining useful life (in years) 

• Asset ownership 

See the table below for examples of other types of information you might want to collect about your system’s assets. Once staff identify the types of information to collect, you can organize the collected data in your asset inventory. 

Note: Consider including information about the area around your assets if it has protected status, such as wilderness, a national or state forest or park, etc. 

Getting Started

 For systems just getting started with data collection, it is important to implement a plan for what data to collect and how to collect it and consider what is useful now and in the future. There are many systematic approaches to collecting data for the asset inventory: 

• Collect data on one type of asset at a time. 

• Collect data on one portion of the system at a time (e.g., pretreatment, then treatment, then solids handling, then green infrastructure). 

• Collect data by location within the system from one side to the other. 

• Collect data based on age of assets. (e.g., older assets first, or newer assets first) 

• Collect data based on major construction projects. This approach could be based on as-built drawings. 

• Collect data on above ground assets first. 

When an inventory is first created, it is highly likely there will be gaps in the data. Consider the following to ensure that you develop the most complete inventory possible: 

• During the initial inventory process, take care to ensure the best data possible is put into the inventory and make reasonable estimates for collecting missing information.  

• Collect the best and highest quality data given the available resources of personnel, time, records, and technology during the initial survey. Allow data quality to improve as you continue to develop your inventory.  

• Take pictures of the asset when possible, to capture multiple data and a snapshot of the visual condition at the time.  

• If possible, you can use a tablet or cell phone to input data into your asset inventory in real time and potentially set GPS pins.  

• The data collection approach might start out simple and evolve over time as additional resources become available. 

Ultimately, the asset inventory should support operational, management, and planning analysis functions. The asset data should be relevant, useful, and manageable. 

Deciding what to include in the inventory based on monetary value – Ted Riehle, Chief Operator, Old Forge Wastewater Treatment Plant, Old Forge, NY

Start by collecting data on assets you can find easily – Bill Boulanger, Superintendent Public Works and Utilities, Community Service Division, City of Dover, NH