Modeling Asset Deterioration for Risk-Informed Infrastructure Asset Management
Thursday, October 19
11am MST – one hour
Dr. Arnold Yuan, Academic Director at the Ryerson Institute for Infrastructure Innovation, will demystify deterioration modelling and describe how it can be used for better risk analysis and evidence-based decision-making. Dr. Yuan will identify how both “hard data” – data collected from inspection and condition assessment – and also “soft data” – gleaned from expert opinions, design manuals, and professional judgments – can be integrated into deterioration modelling. Attendees will walk away with a better understanding of the ‘devil’ of infrastructure asset management so that they can make more evidence-based risk-informed decisions in data collection, selection of inspection technologies, and long-term strategic planning in maintenance and rehabilitation.
Outline of the Webinar
Deterioration modeling is an important analytical component in risk-informed infrastructure asset management. Many asset managers find it very challenging because of paucity of deterioration data, the technicality involved in the task, and the sophisticated relations with other tasks in infrastructure asset management. Some people think it is just a matter of tracking the service age to calculate the remaining life, whereas some other people understand that the deterioration model should be tied to the physical condition and functional performance of assets, but they are not very clear how the model relates to other activities such as inspection, condition assessment, system analysis (e.g., hydraulic modeling, traffic analysis, energy envelope simulation).
This seminar attempts to provide the audience, presumably mainly corporate asset managers, with a birds’ eye view of this fascinating module of the whole infrastructure asset management puzzle. Dr. Yuan will help you understand that deterioration modeling involves not only the data-driven process that asset managers have traditionally perceived, but also a system analysis that carries the empirical deterioration modeling at the level of performance data up to the level of the performance hierarchy at which decisions are made. In addition, deterioration modeling is an important and integral component of risk analysis, and therefore, the characterization and quantification of aleatory uncertainty and epistemic uncertainty become an essential component of deterioration modeling. Moreover, deterioration data include not only hard data collected from inspection and condition assessment, but also soft data that can be gleaned from expert opinions, design manuals, and professional judgments. The audience is expected to walk out of the webinar with a better understanding of the ‘devil’ of infrastructure asset management so that they can make more evidence-based risk-informed decisions in data collection, selection of inspection technologies, and long-term strategic planning in maintenance and rehabilitation.
STAY TUNED FOR REGISTRATION DETAILS…
The Canadian Institute is hosting its 2nd Annual Infrastructure Asset Management East on October 26–27 in Toronto. As the conference Chair, I am looking forward to the great speakers and panel sessions that the Canadian Institute has assembled for this year’s event.
Our country is faced with a significant infrastructure deficit. For municipalities, just keeping up with asset repair and rehabilitation is a financial struggle. And the demand for new assets in our growing communities only adds to that burden.
But we continue to make strides to improve our ability to manage our assets. New technologies and innovations, increased funding from other levels of governments, and more efficient management processes are providing the tools needed to keep our assets functioning at the level the community expects.
With these developments as a backdrop, Infrastructure Asset Management East offers you as a delegate the opportunity to:
- Learn how following ISO55000 guidelines will help you secure funding and get more value from your existing asset management plan
- Hear about the federal government’s unprecedented $186 billion investment in infrastructure and how you can benefit
- Find out how you can really get council and other key stakeholders on side
- Discover how to shift from a technical/operational view of asset management to a big data approach with a case study from the Washington Suburban Sanitary Commission
- Get inspired by real life stories of how municipalities ranging from populations of 981 (Burk’s Falls) to nearly 750,000 (Hamilton) are overcoming common asset management conundrums
Join myself, representatives from AM Ontario, and public and private sector industry professionals to learn the keys to integrated, sustainable asset management in Canada.
As a CNAM member, you’ll receive 20% more off the current registration price. To register for this conference, simply call 416-927-1563 or 1-877-927-1563, email CustomerService@CanadianInstitute.com or register online.
On behalf of the Canadian Institute, I look forward to hosting you in Toronto this October.
2017 Conference Chair
Learn more about your conference chair: Andrew Macklin
- Asset Decision Framework for Optimal Value – Nigel D’Souza
- Debunking Risk Resiliency by Implementing a Risk-Based Maintenance Strategy – Suzane Greeman
- Case Study: Digital Asset Management – Palak Patel
- Predictive Pattern Recognition at NSPO and Its Role in Maintenance Strategies – Warren Rodgers
- Case Study: Implementing Business Process for Capital Investment Using Asset Analytics – Alex Ashley and Kurt Ersser
- An Open Letter to Our Future Senior Leaders – Paul Daoust
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