Info360 Asset, a cloud-based application based on the Info360 platform, was released as a beta version in July this year and is now fully available to all water utilities, local councils, and their consultants and contractors. It is specifically designed for the water industry’s condition and performance monitoring and assessment processes and offers a centralized asset and information management system for inspections, asset performance, which are leveraged to calculate the likelihood and consequence of failure used to determine business risk exposure.
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All Asset Data in a Single Platform
From the delivery of inspection data and media (either from utility’s field crews or from contractors) to condition management and assessment and risk modeling, there exists plenty of opportunities for these inspection surveys to get lost along the way, or be assigned to the wrong assets, making the data hard to find.
With Info360 Asset, inspection delivery and review, defect scoring, and risk modeling are all conducted within the same application, as field crews, contractors, condition program managers, risk modelers, and utility/council’s stakeholders can easily query and find the right asset information. This increases the return on your inspection investments, as the data is found and used across the utility or local council.
Always Up-to-date Asset Register to Rely On
Storing current inspections is a good start, but if your system does not keep track of all historical inspections and asset interventions, your assumptions for making decisions won’t necessarily be accurate, and the utility might end up fixing or replacing the wrong asset.
Info360 Asset is continuously updated with newly inspected assets, creating a digital asset twin that represents the actual state of assets. The always up-to-date record of assets provides the source of truth and context for well-informed asset-related decisions throughout the operations and maintenance lifecycle of the asset.
Data-driven Risk Assessment
Determining the business risk exposure for each asset can be complex. When considering the probability of whether an asset will fail, asset managers must consider variable rates of degradation over time, the current and historical condition, past work orders completed, the physical characteristics of the asset, the location of the asset, and more.
Because Info360 Asset stores all historical and current inspection data, you have the most up-to-date condition profile on all your assets. Consequently, it empowers you to leverage your investment in survey and condition data alongside asset details and geo-spatial data to configure the likelihood and consequence of failure to determine the overall business risk exposure.
This logical, data-driven approach to risk promotes transparency and clarity on how risk was derived, empowering asset practitioners to easily justify and defend risk-based decisions.
Risk-free Access for Non-Technical Stakeholders
Utility or Local Council’s stakeholders can view the asset inspection and risk results in an easy-to-understand web application, all in a read-only mode. This ability to access the asset system increases trust that the decisions the Asset Management team has made were informed.