Whole-Life Value-Based Decision-Making in Asset Management

Whole-Life Value-Based Decision-Making in Asset Management is a comprehensive guide to improving the effectiveness of infrastructure asset management by determining the level of expenditure on infrastructure assets in order to maximise life-cycle value. Using clear and concise examples, this book provides detailed guidance for making whole-life asset management decisions based on value rather than cost. This best practice guide aims to aid asset management decision-makers to understand better the value generated by assets and the risks associated with this in order to make better informed decisions, and to also have a deeper understanding of the impact of their decision. Whole-Life Value-Based Decision-Making in Asset Management: delivers a systematic method to map the value generation process supports stakeholders in making asset management decisions provides guidance to make a decision framework based on value illustrates its applicability through industrial case studies such as seepage in London Underground tunnels. Part of a series of best practice guides written by experts at the Cambridge Centre for Smart Infrastructure and Construction (CSIC), this value-based tool addresses the challenges of managing current ageing infrastructure by determining the type, level and timing of investment required so that assets can meet current and future demand.