SPM Assets

SPM Assets is a web-based asset planning system designed by asset managers for asset managers.

The product provides a tactical to strategic analytical solution, enabling asset managers to effectively assess the condition and performance of their assets and to efficiently formulate the priorities of physical works.

The product allows asset managers to:

• Assess the condition and performance of assets
• Efficiently formulate the priorities of physical works
• Choose the best position between resources and acceptable known risks

The number and types of assets that can be held and analysed is unlimited. The product bridges the divergence between the physical reality of managing large scale assets and the financial reality of limited budgets.

SPM Assets can be implemented in-house or hosted externally to reduce hardware and internal IT costs.

Benefits

SPM Assets offers the following operational benefits:

• A structured approach to asset planning using a proven methodology
• Long term savings through proven scientific forecasting
• Effective decision-making based on easy to access information
• Justifying budgets based on evidence
• Prioritising projects using risk and criticality
• Reduced internal IT costs with a fully web-enabled hosted application

SPM Assets Brochure

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Core System

Storing Component Level Data

• Holds information at a component level, including condition grade, base lives, remaining lives, construction year, confidence grades, criticality criteria and replacement costs.
• Asset components are user-defined with comprehensive information held for each component in a 3-tier hierarchy incorporating component group; component type and component.
• Condition grades from 1 to 5 (very good to very poor respectively) are held for each component - these can be configured to 0 to 5 or 01 to 10 as examples
• For each component, a minimum condition grade is recorded so that works are timed prior to reaching that grade, e.g. if set to 4, the component is flagged for replacement before it reaches condition grade 5 based on the algorithms incorporated within the application.
• Based on this the estimated remaining life is automatically projected and a condition decay model is graphically displayed based on the condition data.
• Asset Reference data is held within a library function including base life ranges, unit replacement rates, criticality and predictive models. Maintenance regime libraries are also part of the Asset Reference library.
• Data can be imported and exported through csv files accessed via the front screen under Admin. Data mappings allow typical users to extract data, change globally and then import.

Component Workspace

• Enables users to process multiple component updates for one or more property records
• Enables users to undertake comprehensive analysis with data being displayed in a grid or graphical display with options to select the basis for analysis
• Component data validation is automatic through an analysis function. The condition grades are compared to assessed remaining lives and base lives to report data inconsistencies.
• An ‘updater function' allows for specific selections of data to be updated with more recent information, e.g. changing base lives for part of the portfolio

Valuation analysis

• Using the component data and the predictive models, a depreciated replacement cost valuation and associated depreciation can be calculated for properties and portfolios.
• The valuation is compliant with IFRS when combined with capital replacement values (CRV) that have been verified by valuers.

• Provides a range of standard HTML, csv and PDF reports with facility to export information for further analysis.

Business Rules and SQL Reporting

• A variety of standard business rules can be chosen from the SPM library and applied to the specific data set.
• SQL Reporting is similar to Business Rules - tailored HTML and csv reports can be generated on the raw data and calculated information
• New business rules specific to the client's data set can be written and applied.
• Results from applying the business rules and SQL Reporting are reported to HTML tables and to csv.

Mobile Forms

• Allows direct access to the database through a user interface that is designed for hand held devices such as iPhones, iPads, Netbooks, etc.
• Data can be downloaded remotely, changed/added/deleted in the field, and posted as needed. An entire property can be created and surveyed ‘from scratch' by a surveyor in the field.
• Property level and component level data can be accessed through Mobile forms including the PQS data and work orders.
• Property records such as rooms, locations, grounds and buildings can be copied and or cloned from templates to ensure the infield process is as efficient as possible.

Predictive and Reporting

Lifecycle Analysis

• The condition based risk analysis uses condition grades as the primary ingredient to calculating the timing of future works based on condition. Although this is the default predictive model, the functionality also allows for the following:

o Age-reliability - where condition grades are unknown or challenging to assess
o Age -condition - where the age of an asset should influence the remaining life within a condition grade band
o Assessed remaining Life - where the judgement of a surveyor should be relied on

• Estimated remaining life is automatically calculated as a combination of:

o Condition grade

o Component criticality

o Predictive model

o Minimum condition grade

o Range of expected base life

o Building importance

• Undertakes lifecycle analysis using a risk based approach considering condition, age, deterioration, criticality, and importance
• Facility to define the threshold between operational and capital expenditure.
• The algorithm analyses data provided by the Surveyor / Asset Manager to determine the timing of works rather than fully relying on the information that is input to dictate timing.

Scenarios

• Allows ‘what-if' modelling to assess the effects of changing component data and analysis algorithms on lifecycle analysis
• A scenario can be run to only show the results for comparative purposes. The base data can then be changed based on the results.
• A range of scenarios can be saved for future analysis and history keeping.

Project Planning

• Identifies future works projects based on component information
• Several components from any number of different properties needing replacement, refurbishment or repair can be gathered in one project.
• Filters are provided to identify the type of work that is required based on component condition information such as remaining life; condition; budget year; priority etc.
• Information can be interrogated at a high level with data displayed in graphs and tables on condition, component categories and projects.
• The timing of work can be influenced based on criticality as well as condition in relation to the available budget.
• Ability to set notional budgets allowing the user to smooth the raw expenditure based on condition grades and criticality. Component replacement timing is influenced by these factors
• Ability to create maintenance programmes and assign components

Property Quality Standards

• Enables user-defined performance or quality standards to be set up as user-defined statements in a series of templates as required
• Analyses both condition status and various user defined performance or quality standards associated with properties such as safety, healthy, sustainability, and energy efficiency. Data can be used to analyse the cost consequence of achieving levels of compliance or changing the expected level of service.
• This facility may be used to compare the costs to achieve the lowest level of service compared to the highest based on cost by criteria or properties
• Each statement has a significance grade which is compared to a threshold. Hierarchies of standards can be defined that relate to specific property types or service functions.
• If the answer to the statement means that the property or asset is not achieving its desired level of service, and its significance is greater than the threshold for the PQS criteria, then a cost to achieve the desired PQS is associated with that property or asset. This allows testing the affordability of various scenarios.
• Results can be compared for individual properties or an entire portfolio.

Analytics

• Data from existing financial and or maintenance management systems can be uploaded to the Analytics module for further analysis and reporting.
• Data fields can filtered and selections saved. Graphs and tables can be generated of the filtered data sets to report the cost of maintenance or work tasks over time.
• The intention of the module is to compare the actual cost of historic work with the asset value, condition grade index and future expenditure projections so that outliers can be found for further investigation, i.e. why is it costing twice as much to maintain one building compared to another when they are the same value.

Maintenance Planner

• Maintenance tasks or regimes can be established at a sub-component level and applied across all assets in the database within the Asset References section under Admin.
• A Task is defined by a description, code, frequency, base date, contractor, active or non active, mandatory or non mandatory, and impact on base life range.
• The function is used to globally and selectively create a maintenance plan for each asset in each building as appropriate.
• The predictive model can be influenced by the maintenance regime and Scenarios can be used to compare the differences, i.e. how much expenditure is needed over 20 years if maintenance regimes are implemented compared to if they are excluded.
• The final adopted maintenance plan can then be uploaded to a maintenance management system for the daily management of related work orders or dockets.

SPM Assets Brochure

Contact us to find out more.