Asset Condition Assessment Requirements Features and Functions
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- Identifies, prioritizes, and forecasts when assets will be in need of replacement/renewal
- Identifies and inventories assets by hierarchical groups, sub-groups, and elements
- Identifies importance of assets on a scale from High, Medium, Low
- Identifies condition of assets on a scale from Failed to Excellent
- Ranks within priority bands of importance and condition
- Calculates remaining life of asset based on age, life expectancy, other defined conditions of the asset
- Performs economic calculations and analysis based on industry best practices
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Asset Management Features and Functions
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