Street Lighting: Understanding lighting assets UL03: Risk, Risk Management & Asset Management Risk • What is risk? – Noun: a situation involving exposure to danger. – Verb: expose (someone or something valued) to danger, harm, or loss. – Association between probability and consequence of an adverse event (hazard) being realised or happening • Types business risks: – Strategic – Compliance – Operational – Financial – Reputational Risk Management Strategies • Managing risk: – Avoidance (eliminate, withdraw from or not become involved) – Reduction (optimise – mitigate) – Sharing (transfer – outsource or insure) – Retention (accept and budget) ULA 03 Risk - risk mgt - asset mgt - residual life (c) The ILP 2021 1
Transcript
Street Lighting: Understanding lighting assets
UL03: Risk, Risk Management & Asset Management
Risk
• What is risk?– Noun: a situation involving exposure to danger.– Verb: expose (someone or something valued) to danger, harm, or loss.– Association between probability and consequence of an adverse event
(hazard) being realised or happening• Types business risks:
• Specific to the area where a visit is being planned:– Traffic conditions and movements– Safe parking and access– Overhead lines– Embankments– Constraints: on-site, adjacent,
day/night, during construction– Ground conditions, excavations other
works– Adjacent properties, amenities or
protected environments– Contact details for lone working,
“a means to deliver a more efficient and effective approach to management of highway infrastructure assets through longer term planning, ensuring that standards are defined and achievable for available budgets.”
Highway Infrastructure Asset Management: Guidance document, May 2013
Asset Management: Standards
• ISO 55000The systematic and coordinated activities and practices through which an organisation optimally and sustainably manages its assets and asset systems, their associated performance, risks and expenditures over their life for the purpose
• Asset management– Coordinated activity of an organisation to
realise value from assets.• Asset management plan
– Documented information that specifies the activities, resources and timescales required for an individual asset, or a grouping of assets, to achieve the organisation’s asset management objectives.
• Asset management System– Management system for asset management
whose function is to establish the asset management policy and asset management objectives.
Life-cycle Planning
• Long-term strategy for managing an asset, or group of similar assets
• Maintaining required performance• Minimising whole-life costs• Optimal mix of
– Inspection– Testing– Monitoring– Maintenance
• Part of good asset management• Calculates the long-term funding
requirements
Life-cycle Plan
• Identifying the required asset performance– Condition– Capacity– Availability– Standard
• Identify deterioration rates and residual life, usually based on:– Engineering experience– Judgement
• Internal– Operational failures– Data failure– Conflicting internal program
objectives– Lack of training/competence
Assets and Risk
• Asset risk looks at the consequences of failure and the possibility of it happening
• Risks and consequences of failure/operational use could be related to:– Age– Inappropriate use– Inappropriate specification– Environmental– Malevolent acts– Accident cause or increased
consequence• Not all assets have the same risk
– Assets in a quiet residential road different to a motorway
Asset Risk management
Risk Identification
Risk Assessment
Risk Control
As Low As Reasonably Practicable
ALARP:• ‘tolerable region’ can
be stratified based on an asset owner’s assessment of the acceptability of the consequences of failure.
• This appetite for risk informs the inspection, testing and maintenance programmes.
• Identifying critical assets and develop a hierarchy:– Tunnels– High masts– Main roads– Locations
• Criticality can be assessed by understanding the consequences of failure e.g.– Impact on accidents– Impact on traffic– Impact on the community, crime &
businesses
• Successful asset management:– Knowing what assets you have– Knowing the condition of each
asset– Understanding where the assets
are in their lifecycle– Analysis of inspections & testing– Able to make judgements:
• Refurbishment• Removal• Replacement
Asset Lifecycle
AssetDisposal
AssetCreation
Operation &Maintenance
Operation &Maintenance
Asset Refurbishment or Renewal https://road-asset.piarc.org/en/data-and-modeling-
