The Construction tab allows agencies to document detailed information about the construction of an asset. It also contains several fields related to risk analysis.
Value Calculations
Present Value Remaining Life |
These fields are updated by the system based on deterioration rates set up in the Construction record. |
Risk Calculation
Risk calculations are a way for agencies to evaluate where potential weak spots in their infrastructure are.
Criticality |
Rates how important the asset is. This rating should be a whole number based on a scale that the agency uses. A higher number means more risk. Example: On a scale of 1 to 100 this asset is pretty import so it has a Criticality score of 85. |
Probability of Failure |
Rates how likely the asset is to fail. This rating should be less than one because it represents a percentage. Example: This asset will only fail about 5% of the time so it has a Probability of Failure of (5/100) = .05 |
Mitigation |
Rates any factors that have been put into place to mitigate the failure of the asset. This rating should be less than one because it represents a percentage. Example: To offset the failure of this asset we have a backup, though it will only make up for about 30% of the loss. This asset has a mitigation score of (30/100) = .3 |
Risk |
Represents how much risk the asset represents. Calculated based on: (Consequence of Failure x Probability of Failure x Mitigation). Example: This asset represents a 85 x .05 x .3 = 1.275 risk to the system. |
Construction Grid
This tab also contains a grid (sample below) of all construction records associated with the asset.
Sort records in the grid by clicking on the headings. An arrow (highlighted in orange below) will appear to signify whether the data appear in ascending or descending order.
To access the Construction records, go to Transportation > Construction Records.
More information about Construction Records