Governments, municipalities, and owners, managers and operators of water and wastewater systems are increasingly faced with the challenges of doing more with less financial resources—expanding and sustaining safe and reliable services with aging water and wastewater assets and decreased or limited funding. Along with this comes the difficulty in discerning where to invest to optimize the use of existing assets, and where the greatest likelihood of asset failure and risk will occur.
Added to these complexities are external forces acting upon the industry as a whole to require more effective response, such as increased pressure from the public demand for improved service levels and lower costs; regulatory compliance; population growth; greater gaps between projected water supplies and water demands; business transparency; and mega trends in environmental sustainability, climate change and infrastructure resiliency.
Whether water and wastewater systems are publicly or privately owned, are aged or underfunded, the management of assets can no longer be purely reactive. A proactive approach that efficiently and effectively manages water and wastewater systems is essential to ensure long-term sustainability, resilience and security. This is where WSP’s asset management capabilities provides particular value.
Combining Specialized Expertise and Tools
Asset management is an integrated strategy to manage capital assets, operating and maintenance tasks and costs, and long-term financial planning to provide appropriate levels of service. A fundamental principle in asset management is to help decision-makers resolve how to optimize the use of scarce resources to deliver service, and to demonstrate to stakeholders that capital expenditure and operational expenditure investments are focused on areas that have the most significant impact.
Building a world-class asset management program involves tackling multiple elements across strategy, process, operations and systems. Understanding where to start and how to put the pieces together into a long-term plan is the challenge. WSP’s Asset Management Capability Assessment Model provides an assessment of an organization’s asset maturity. The output is used to evaluate and benchmark an organization, and support the development of an asset management improvement program. The structure and approach ensure consistent and repeatable assessment, and provide access to a significant global benchmark pool.
Tackling Asset Management Challenges for the Water Industry
WSP draws on decades of experience successfully implementing asset management plans and programs, including helping clients build strategic foundations, to establish service levels and performance baselines and develop realistic and integrated capital and financial plans.
Our expert team includes authors of and key contributors to international guidelines and best practice development, including the International Standard for Asset Management Systems and ISO 55001: 2014. Given the multiple services available within our asset management program, WSP is well positioned to address specific pain points in water, wastewater and stormwater system management. We can help clients capture and analyze data about the assets themselves—condition, location and real value—and help them make smarter, more cost-effective decisions to better understand their largest risks and avoid critical failures within their water infrastructure.
WSP’s asset management services include:
- Business transformation, organizational design and culture assessment
- ISO 55001: 2014 assessment
- Asset management capability assessment modeling
- Capability assessment and Improvement programs
- Strategic and business planning
- Financial analysis and economic modeling
- Regulatory support
- Fee structure design
- Performance metrics and level of service (LOS) indicators
- Risk and vulnerability assessment and management
- Asset inventory, condition assessment and predictive modeling
- Failure analysis
- Capital planning and portfolio optimization
- Alternative delivery feasibility and transaction support\life cycle cost and timing optimization
- Operations and maintenance budgeting
- Technology planning, architecture, strategy and integration
- Data analytics and visualization
- Training program development, training support and delivery