2944987
Description
Flashcards by Samuel Metcalfe, updated more than 1 year ago
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Created by Samuel Metcalfe
over 9 years ago
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| Question | Answer |
| Asset Definition | Object (physical or intangible) that has an identifiable value and useful life of greater than 12 months |
| Key Elements of Asset Management | - Finding required Level of Service - Knowing long term funding requirements -Asset condition and expected life - Knowing where money is spent - What assets are controlled/owned -Documentation of plans - Policy framework |
| Challenges and opportunities in Asset Management (competencies) | - Environment - Accounting - Financial - Emergencies - Maintenance - Management - Clients -Procurement - Innovation |
| Four features of asset management system | - Inventory (what you own) - Condition Measure (what shape is it in) - Prediction of future condition -Tools/Metrics for managing network |
| Why rate roads? | - Anticipate treatment windows - Measure condition -Measure of accuracy - Measure of network change |
| Types of condition measuring systems | Need a sustainable and descriptive system: Ordered state ratings - Criteria describes set of discrete, ordered states Index system - Relates physical measurements of distress extent and observer opinions to a numerical rating |
| Ways to predict of future conditions | - Rules of thumb (ie new asphalt lasting 14 years) - Traffic Volumes - Past experience = Modelling historic rating data - Forward looking models |
| Service Cycle | How big is the network? And how long will it take to service the entire network vs. it's life |
| Infrastructure Requirements | Needs to accommodate structural and environmental loading and be regularly maintained. Good management increases asset valuation, poor management loses it. |
| Three goals of infrastructure design | - Cost effective solution - Address deficiencies - Satisfy constraints Overall needs a thorough evaluation |
| ESAL | Equivalent number of 80 kN single axle loads |
| Key considerations for selection of feasible alternatives | - Condition assessment - Performance experience - Safety concerns - Capacity needs - Availability of resources - Cost effectiveness - Contractor availability |
| Network needs analysis and priority programming | Establish levels of service with trigger values in following areas: - Pavement Health - User costs - Maintenance costs - Depreciated value |
| Book Value | Current value based on replacement costs depreciated to current condition of asset |
| Replacement Cost | Cost to replace |
| Market Value | Estimate of price buyer is willing to pay |
| Equivalent present cost | Historic cost adjusted for inflation and worth in place |
| Productivity realised value | Net present value of benefit stream for remaining service life |
| Net Present Value | Cost of all activities completed for a time = 0 , allowing for discount rate |
| Sources of initial construction costs | Material, labour and traffic cost |
| Rehabilitation definition and cost sources | Major interventions to restore. Labour, materials and traffic control |
| Maintenance definition and cost sources | Activities to slow deterioration - Labour, materials and traffic delay costs |
| Typical construction cost percentages | Initial construction - 70 - 90% Rehabilitation - 10 - 25% Maintenance - Almost no effect Salvage/Terminal Value - Very little +ve effect |
| Three typical user costs for roads | - Vehicle operating costs - User delay costs - Crash costs |
| Ways to minimize user delay costs? User delay costs can be very significant ie 670k in 24hour work zone opposed to 80k in 12 hour zone. | - Adding capacity - Perform rehabilitation during off peak hours - Use longer lasting materials - Preventive maintenance - Using materials with faster construction sequences |
| Quality | Perception of the degree to which the product or service meets the customers expectations |
| 3 Components of quality management | - Quality Control - Quality Assurance - Quality Improvement |
| Quality Control | Observation techniques and activities used to fill requirements for quality. e.g. Checking drawings, checking calculations, reviews |
| Quality Assurance | A set of activities to ensure that products satisfy customer requirements. e.g. External quality audits, internal checks on anything out of the ordinary |
| Quality improvement | Product improvement, process improvement and people based improvement. e.g. set up a quality management system, improve supply chain (LEAN), involving workers (to improve motivation) |
| Past mindsets on quality | - Increased quality will increase cost - Quality problems lead to blame, faulty justification and excuses - Quality is internally focused - Quality occurs at project execution |
| Present mindsets on quality | - Improved quality saves money and increases business - Quality problems lead to cooperative solutions - Quality is customer focused - Quality occurs at project initiation and must be planned for within project |
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