Introduction

Facing increasing challenges to balance the network performance, risk and cost, SPPG is looking towards a risk-cost and integrated decision-making platform to manage its critical and huge infrastructure. This will bring a paradigm shift using comprehensive data driven approach for asset management on a single platform that will enable short and long term risk assessment, and thereafter leads to optimal system planning and network performance across the entire asset management cycle.

Objective

The objective of this research project is to develop a risk-based decision-making methodology on a single platform that includes asset heath condition and network criticality to optimize asset planning in a cost- and operationally- effective manner. Optimizing asset planning essentially requires a consistent model to quantify the prioritisation of asset investment/renewal programmes that weigh the risk-cost benefit while accounting asset health and the criticality impact in the network.

Outcome

The deliverables of the project are software modules that integrate the key research outcomes as follows:

• Asset renewal prioritization model through risk-based analysis of the impact based on the criticality of assets as well as asset performance and remaining useful life.
• Asset Health Index to accurately assess the current asset health condition and project its future conditions.
• Portfolio investment optimization model for enhanced system planning (asset renewal, network growth and maintenance)