Critical Asset and Capital Improvement Plans & Tools
1) An organization must define which of its assets are most critical in order to focus its maintenance efforts. Assets with the highest probability of failure (POF) and consequence of failure (COF) come with the highest risk. These assets are most critical to the stormwater system. Use this spreadsheet to calculate the criticality score for each asset based on its POF and COF rankings and redundancy score. Detailed instructions are provided to assist in these calculations.
2) A capital improvement plan (CIP) can help you identify which assets to maintain and which to replace. The CIP should specify project priorities and list them by year. Information should include a project description, need for and benefits of the project, estimated capital cost of the project, estimated operations and maintenance costs, and funding sources. This spreadsheet will assist you in creating a capital improvement plan.