{"id":6903,"date":"2021-03-11T16:02:09","date_gmt":"2021-03-11T16:02:09","guid":{"rendered":"https:\/\/swefc.unm.edu\/iamf\/?page_id=6903"},"modified":"2022-03-21T18:49:27","modified_gmt":"2022-03-21T18:49:27","slug":"life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip","status":"publish","type":"page","link":"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\/","title":{"rendered":"Life Cycle Costing \/ Long Term Replacement Plans \/ How to Create a CIP"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” admin_label=”Popup – #undefined” _builder_version=”4.8.1″ _module_preset=”default” positioning=”none” horizontal_offset_tablet=”” horizontal_offset_phone=”” horizontal_offset_last_edited=”on|tablet” custom_margin=”0px||||false|false” custom_margin_tablet=”” custom_margin_phone=”” custom_margin_last_edited=”on|desktop” custom_padding=”0px|||0px|false|false” custom_padding_tablet=”|||25px|false|false” custom_padding_phone=”” da_disable_devices=”off|off|off” custom_padding__hover_enabled=”on|desktop” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.8.1″ _module_preset=”default” width=”100%”][et_pb_column type=”4_4″ _builder_version=”4.8.1″ _module_preset=”default”][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

How to Create a Capital Improvement Plan<\/h2>\n

 <\/p>\n

To create the capital improvement plan, use data from the asset inventory, including useful life estimates, replacement cost, and condition, to help determine what year each asset will need to be replaced and how much the replacement will cost (see Table 6). The replacement year can be adjusted with data from asset performance, including failures, O&MOperations and Maintenance<\/span><\/span><\/span> expenses, and risk if any asset needs to be replaced sooner or can be kept in service longer.<\/p>\n

[\/et_pb_text][et_pb_text _builder_version=”4.9.2″ _module_preset=”default”]<\/p>\n

Table 3: Data Needed for a Capital Improvement Plan<\/h3>\n

[\/et_pb_text][dvmd_table_maker tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.9.2″ _module_preset=”default” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover”][dvmd_table_maker_item col_label=”Asset” col_content=”Asset<\/strong>
\nBorehole\/Well casing\/Well screen
\nBorehole\/Well casing\/Well screen
\nWell House Piping” col_chead_cell_color=”#2ea3f2 ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Year Needed” col_content=”Year Needed<\/strong>
\n2022
\n2035
\n2022″ _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Number of Assets Needed in Year” col_content=”Number of Assets Needed in Year<\/strong>
\n2
\n1
\n250 ft” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Replacement Cost\/asset” col_content=”Replacement Cost\/asset<\/strong>
\n$800,000
\n$800,000
\n$80\/LF” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Total Replacement Cost” col_content=”Total Replacement Cost<\/strong>
\n$1.6 million
\n$800,000
\n$20,000″ _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][\/dvmd_table_maker][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” hover_enabled=”0″ locked=”off” sticky_enabled=”0″]<\/p>\n

If the asset inventory is not fully developed it is possible to create a simple CIPCapital Improvement Plan<\/span><\/span><\/span> with a bit more data gathering. The following steps walk through developing a simple CIPCapital Improvement Plan<\/span><\/span><\/span>:<\/p>\n

 <\/p>\n

    \n
  1. \u00a0Create a list of all the asset classes in your system (not individual assets). Some potential asset classes are listed below.<\/li>\n<\/ol>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.9.2″ _module_preset=”default”]<\/p>\n

    Table 4: Example Asset Classes<\/h3>\n

    [\/et_pb_text][dvmd_table_maker tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.9.2″ _module_preset=”default” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover”][dvmd_table_maker_item col_label=”Source” col_content=”Source<\/strong>
    \nWells
    Springs
    Surface
    Intakes
    Raw Water Reservoir
    Well Pump
    Well Controls
    Well House
    Pump House
    Back Up Generator ” col_chead_cell_color=”#2ea3f2 ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Treatment” col_content=”Treatment<\/strong>
    \nChlorination
    Sedimentation
    Coagulation
    Flocculation
    Filtration
    Fluoridation
    Aesthetic Treatment (Fe & Mg removal)
    Regulatory treatment ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Distribution” col_content=”Distribution<\/strong>
    \nMain Line Pipe
    Supply Pipe
    Hydrants
    Isolation Valves
    Corp Stops
    Curb Stops
    Meters
    Storage Tanks
    Pump Stations
    Booster Stations
    PRVs
    ARVs ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][\/dvmd_table_maker][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” locked=”off”]<\/p>\n

    2. Break down the major categories into subcategories as much as possible.\u00a0<\/p>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.9.2″ _module_preset=”default”]<\/p>\n

    Table 5: Example Asset Subcategories<\/h3>\n

    [\/et_pb_text][dvmd_table_maker tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.9.2″ _module_preset=”default” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover”][dvmd_table_maker_item col_label=”Category” col_content=”Category<\/strong>
    \nSource
    \nTreatment
    \nDistribution” col_chead_cell_color=”#2ea3f2 ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Major Subcategory” col_content=”Major Subcategory<\/strong>
    \nWells
    Springs
    Surface Intakes
    Raw Water Reservoir
    Well Pump
    Well controls
    Well House
    Pump House
    Back Up Generator
    \nChlorination<\/p>\n

    Sedimentation
    Coagulation
    Floculation
    Filtration<\/p>\n

    Fluoridation<\/p>\n

    Aesthetic Treatment (Fe & Mg removal)
    Regulatory treatment
    \nMain Line Pipe
    Supply Pipe
    Hydrants
    Isolation Valves
    Corp Stops
    Curb Stops
    Meters
    Storage Tanks
    Pump Stations
    Booster Stations
    PRVs
    ARVs ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Minor Subcategory” col_content=”Minor Subcategory<\/strong>
    \nBorehole\/Well casing\/well screen
    Spring house, piping
    Intake structure, controls
    Pump, controls, motor
    Control Panel, Instrumentation, SCADA
    Structure, security (e.g., fencing, locks), HVAC
    Structure, security (e.g., fencing, locks), HVAC Generator, Controls,
    \nChemical pump, tank, piping, controls, injector
    Tank
    Tank, chemical feed, mixing
    Tank, mixing
    Filter, backwash pump, troughs, controls, piping underdrain, tank
    Chemical feed pump, tank, piping, controls
    Tank, piping, controls
    Tank, piping controls
    \nPipe type and size
    Pipe type and size
    Flush, fire
    Valves by type
    Master, Customer<\/p>\n

    Size, manufacturer<\/p>\n

    Pump, Building, HVAC, Controls
    Pump, Building, HVAC, Controls ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][\/dvmd_table_maker][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” locked=”off”]<\/p>\n

    3. For each minor subcategory: Assess expected useful life and how much useful life remains.<\/p>\n

    a. Useful life remaining does not have to be a specific number. The assessment can look at which third of the life the asset is in.<\/p>\n

    \n

    [\/et_pb_text][et_pb_text _builder_version=”4.9.2″ _module_preset=”default”]<\/p>\n

    Table 6: Useful Life Assessment for Minor Asset Subcategories<\/h3>\n

    [\/et_pb_text][dvmd_table_maker tbl_column_header_count=”2″ tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.9.2″ _module_preset=”default” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover”][dvmd_table_maker_item col_label=”Minor Subcategory” col_content=”Minor Subcategory<\/strong><\/cell><\/p>\n

    Borehole\/Well casing\/Well screen
    \nWell House Piping
    \nPump house structure
    \nWell Pumps
    \nControl Panel” col_chead_cell_color=”#2ea3f2 ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Expected Useful Life” col_content=”Expected Useful Life<\/strong><\/cell><\/p>\n

    60 years
    \n30 years
    \n50 years
    \n25 years
    \n20 years” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”% of the Asset Class in Each Category” col_content=”

    % of the Asset Class in Each Category<\/strong><\/center><\/cell>
    \nFirst 1\/3 of Useful Life (Years Old)
    \n20% (0 – 20 Years old)
    \n0% (0 -10)
    \n0% (0 – 17)
    \n33% (0 – 8)
    \n33% (0 \u2013 6)” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Middle 1\/3 of Useful Life (Years Old)” col_content=”
    \nMiddle 1\/3 of Useful Life (Years Old)
    \n50% (21 – 40 Years)
    \n100% (11-20)
    \n0% (18 \u2013 34)
    \n33% (9 \u2013 16)
    \n33% (7 \u2013 13)” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Total Replacement Cost” col_content=”
    \nFinal 1\/3 of Useful Life (Years Old)
    \n30% (41 Years & up)
    \n0% (21 & up)
    \n100% (35 & up)
    \n33% (17 & up)
    \n33% (14 & up) ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][\/dvmd_table_maker][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” locked=”off”]<\/p>\n

    4. Look at each asset category and fill in the year needed for replacement, the cost per asset, and the number of assets in the category.\u00a0<\/p>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.9.2″ _module_preset=”default”]<\/p>\n

    Table 7: Add dates and costs<\/h3>\n

    [\/et_pb_text][dvmd_table_maker tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.9.2″ _module_preset=”default” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover”][dvmd_table_maker_item col_label=”Asset” col_content=”Asset<\/strong>
    \nBorehole\/Well casing\/Well screen
    \nBorehole\/Well casing\/Well screen
    \nWell House Piping” col_chead_cell_color=”#2ea3f2 ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Year Needed” col_content=”Year Needed<\/strong>
    \n2022
    \n2035
    \n2022″ _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Number of Assets Needed in Year” col_content=”Number of Assets Needed in Year<\/strong>
    \n2
    \n1
    \n250 ft” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Replacement Cost\/asset” col_content=”Replacement Cost\/asset<\/strong>
    \n$800,000
    \n$800,000
    \n$80\/LF” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Total Replacement Cost” col_content=”Total Replacement Cost<\/strong>
    \n$1.6 million
    \n$800,000
    \n” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][\/dvmd_table_maker][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” hover_enabled=”0″ locked=”off” sticky_enabled=”0″]<\/p>\n

    5. Add up costs & assets for each year of the CIPCapital Improvement Plan<\/span><\/span><\/span>.<\/p>\n

    [\/et_pb_text][et_pb_text _builder_version=”4.9.2″ _module_preset=”default”]<\/p>\n

    Table 8: Add up costs<\/h3>\n

    [\/et_pb_text][dvmd_table_maker tbl_row_header_count=”0″ tbl_chead_cell_color=”#2ea3f2″ _builder_version=”4.9.2″ _module_preset=”default” tbl_chead_text_font=”|700|||||||” background_color=”#000000″ border_width_all=”2px” border_color_all=”RGBA(0,0,0,0)” locked=”off” border_width_all__hover=”2px” border_width_all__hover_enabled=”on|hover”][dvmd_table_maker_item col_label=”Year” col_content=”Year<\/strong>
    \n2022
    \n2023
    \n2024
    \n2025
    \n2026
    \n2027
    \n2028
    \n2029
    \n2030″ col_chead_cell_color=”#2ea3f2 ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Assets Needing to be Replaced” col_content=”Assets Needing to be Replaced<\/strong>
    \n1 Well, 2 Pumps, 1 Storage Tank
    \nChlorination, 1 mile main
    \n1 master meter, 100 customer meters
    \n2 miles of main, 40 supply lines, 20 meters
    \n3 fire hydrants, 20 supply lines, 40 meters
    \n1 booster pump station, 4 isolation valves
    \n20 hydrants, 20 meters, 10 isolation valves
    \n4 miles of main
    \nWater treatment plant, including filtration ” _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][dvmd_table_maker_item col_label=”Total Cost for Year” col_content=”Total Cost for Year<\/strong>
    \n$800,000
    \n$400,000
    \n$60,000
    \n$850,000
    \n$200,000
    \n$75,000
    \n$120,000
    \n$1,600,000
    \n$3,000,000″ _builder_version=”4.9.2″ _module_preset=”default”][\/dvmd_table_maker_item][\/dvmd_table_maker][et_pb_text _builder_version=”4.9.2″ _module_preset=”default” locked=”off”]<\/p>\n

    When determining which assets will need to be replaced, consider all you know about the asset such as:<\/p>\n

      \n
    • Condition<\/li>\n
    • Level of Service<\/li>\n
    • Reliability<\/li>\n
    • History<\/li>\n
    • Maintenance (Type and Quality)<\/li>\n<\/ul>\n

      [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

      How to Create a Capital Improvement Plan   To create the capital improvement plan, use data from the asset inventory, including useful life estimates, replacement cost, and condition, to help determine what year each asset will need to be replaced and how much the replacement will cost (see Table 6). The replacement year can be adjusted with data from asset performance, including failures, O&MOperations and Maintenance<\/span><\/span><\/span> expenses, and risk if any asset needs to be replaced sooner or can be kept in service longer.Table 3: Data Needed for a Capital Improvement Plan

      \n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t
      \n\t\t\t\t\t\n
      \n
      Asset Borehole\/Well casing\/Well screen Borehole\/Well casing\/Well screen Well House Piping<\/div><\/div>\n<\/div>
      Year Needed 2022 2035 2022<\/div><\/div>\n<\/div>
      Number of Assets Needed in Year 2 1 250 ft<\/div><\/div>\n<\/div>
      Replacement Cost\/asset $800,000 $800,000 $80\/LF<\/div><\/div>\n<\/div>
      Total Replacement Cost $1.6 million $800,000 $20,000<\/div><\/div>\n<\/div>\n <\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>If the asset inventory is not fully developed it is possible to create a simple CIPCapital Improvement Plan<\/span><\/span><\/span> with a bit more data gathering. The following steps walk through developing a simple Add a Tooltip Text<\/span><\/span><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-6903","page","type-page","status-publish","hentry"],"yoast_head":"\nLife Cycle Costing \/ Long Term Replacement Plans \/ How to Create a CIP - Integrated Asset Management Framework<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Life Cycle Costing \/ Long Term Replacement Plans \/ How to Create a CIP - Integrated Asset Management Framework\" \/>\n<meta property=\"og:description\" content=\"How to Create a Capital Improvement Plan   To create the capital improvement plan, use data from the asset inventory, including useful life estimates, replacement cost, and condition, to help determine what year each asset will need to be replaced and how much the replacement will cost (see Table 6). The replacement year can be adjusted with data from asset performance, including failures, expenses, and risk if any asset needs to be replaced sooner or can be kept in service longer.Table 3: Data Needed for a Capital Improvement PlanIf the asset inventory is not fully developed it is possible to create a simple with a bit more data gathering. The following steps walk through developing a simple\" \/>\n<meta property=\"og:url\" content=\"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\/\" \/>\n<meta property=\"og:site_name\" content=\"Integrated Asset Management Framework\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-21T18:49:27+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\\\/\",\"url\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\\\/\",\"name\":\"Life Cycle Costing \\\/ Long Term Replacement Plans \\\/ How to Create a CIP - Integrated Asset Management Framework\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/#website\"},\"datePublished\":\"2021-03-11T16:02:09+00:00\",\"dateModified\":\"2022-03-21T18:49:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Life Cycle Costing \\\/ Long Term Replacement Plans \\\/ How to Create a CIP\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/#website\",\"url\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/\",\"name\":\"Integrated Asset Management Framework\",\"description\":\"Combining Green and Gray Assets\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/swefc.unm.edu\\\/iamf\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Life Cycle Costing \/ Long Term Replacement Plans \/ How to Create a CIP - Integrated Asset Management Framework","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/swefc.unm.edu\/iamf\/life-cycle-costing-long-term-replacement-plans-how-to-create-a-cip\/","og_locale":"en_US","og_type":"article","og_title":"Life Cycle Costing \/ Long Term Replacement Plans \/ How to Create a CIP - Integrated Asset Management Framework","og_description":"How to Create a Capital Improvement Plan   To create the capital improvement plan, use data from the asset inventory, including useful life estimates, replacement cost, and condition, to help determine what year each asset will need to be replaced and how much the replacement will cost (see Table 6). 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