The Construction tab allows agencies to document detailed information about the construction of an asset. It also has several fields for cost and risk analysis. The asset's present value and remaining life are defined by the deterioration rates set up in the Construction record. These values are updated automatically by the system. The Replacement Value and Replacement Date fields are entered by the user.
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
The Construction grid displays all Construction records associated to the asset.
A sample of the grid appears below. You can sort items in the grid by clicking on the headings. An up or down arrow will appear (circled in red below) indicating ascending or descending order. Click the heading again to change directions.
To access the Construction records select Water > Administration > Construction Records from the main menu. Additional information on the Construction Records module (Construction Records, http://support.lucitycom/downloads/helpmovies/675/Sewer/constructionrecods.wrf).