Group Leader & Senior Principal Researcher
11:40 Improving Water Pipe Failure Predication through Data-Driven Techniques to Reduce Condition Assessment Costs
Water utilities in Australia are believed to spend approximately $1.4 billion a year on reactive repairs and maintenance on their assets. Condition assessments and preventative maintenance are improvements, but can also often be expensive, disruptive and inefficient if completed at the wrong time. Drawing on the recent work completed by the CSIRO with data from 23 water utilities around the world, this session will explore the importance of data analytics, and explore the potential it has for improved asset failure prediction and risk management.
- Developing a risk-aversion strategy to select water pipes for condition assessment while considering the failure probabilities and consequence costs
- Overcoming constraints on cost of collecting data and how to improve collection, quality and relevance to justify investment plans
- Investigating the best practices for managing data and metrics to better measure condition, performance and risk and impact assessments of assets
A new era of asset management is emerging as a result of technological advancements and it’s encouraging to see many utility companies working to keep up with the changes. Automation, IoT and other aspects of the fourth industrial evolution are creating breakthroughs for energy, water and gas utilities. This panel discussion will explore what the future of asset management could potentially look like in the next few years as the industry begins to embrace the advanced technology trends.
- How the industry 4.0 trend of automation and data exchange is affecting the processes and decisions towards asset management plans
- Visualising the long-term outlook of assets and what technological investments can be made to ensure extended life-cycle of assets
- A collaborative smart utility network: how can we exchange information and work together to manage technology and infrastructure to better prepare all services to manage assets in the future