Spatial7 EAM Asset ManagementLesson 3 of 4 · 0% complete
Lifecycle, valuation and planning
Lifecycle stages and intervention
Plan, design, construct, commission, operate, maintain, renew, replace, dispose.
45 min
The stages
Every asset sits in a lifecycle stage: plan → design → construct → commission → operational → maintain → renew → rehabilitate → replace → dispose. Status and stage are related but not the same: status describes the asset now, stage describes where it is in the investment cycle.
Renewal versus maintenance
- Maintenance preserves the asset and its service level — the asset stays, the cost is operating expenditure
- Renewal replaces the asset or a major component because its service potential has been consumed — capital expenditure
Calling renewal "maintenance" for long enough produces both a backlog and a misleading budget.
Making the decision visible
Each asset carries its expected life, remaining useful life and condition. Those three figures, plus criticality, are the minimum needed to defend a renewal decision in front of a council or board.
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