Data-Driven Financial Planning Decision Support System for Drinking Water Networks
Publication: Pipelines 2022
ABSTRACT
Many water utilities are facing difficulties managing and financing their operational and capital programs. A proactive and sustainable asset management program is vital for utilities to maintain their capital assets at the required level of service while ensuring that adequate funds are available for intervening when needed at their riskiest assets. Existing asset management plans and capital improvement programs are mainly being built around qualitative risk models. Such models are suitable for cases where there is a lack of system-related quantitative data to perform a data-intensive quantitative risk assessment. In the water industry, this method is widely followed as well in the form of risk matrices, which are susceptible to human biases and inadequacy for accounting uncertainty. Quantitative risk models provide an objective assessment of the network’s risk through data-driven advanced risk assessment methods. This paper evaluates both a qualitative and quantitative risk assessment to prioritize assets for optimizing capital budget allocations and long term-asset management in a system dynamics environment. The goal is to provide insights into quantifying a more practical risk avoidance in both models to help the utility best plan for short and long-term capital operations.
Get full access to this article
View all available purchase options and get full access to this chapter.
REFERENCES
Al-Barqawi, H., and Zayed, T. (2008). Infrastructure management: Integrated AHP/ANN model to evaluate municipal water mains’ performance. Journal of Infrastructure Systems, 14(4), 305–318.
Forrester, J. W. (1958). Industrial Dynamics. A major breakthrough for decision makers. Harvard Business Review, 36(4), 37–66.
Ganjidoost, A, Knight, M., Unger, A. J. A., and Haas, C. (2021a). Performance Modeling and Simulation for Water Distribution Networks. Frontiers Water, 137.
Ganjidoost, A., Daly, C. M, and Baird, G. (2021b). A Risk-Based Long-Term Capital Planning Program. Pipelines 2021.
Ganjidoost, A., Haas, C., Knight, M., and Unger, A. (2015). A System Dynamics Model for Integrated Water Infrastructure Asset Management. The Proceedings Of The 33rd International Conference Of The System Dynamics Society. Cambridge.
Ganjidoost, A., Knight, M. A., Unger, A. J. A., and Haas, C. T. (2018). Benchmark performance indicators for utility water and wastewater pipelines infrastructure. Journal of Water Resources Planning and Management, 144(3).
Ganjidoost, A., San Luis, K. I., and Daly, C. (2019). Shifting to a Monetized Quantitative Approach for Risk Analysis Using Property Damages. Pipelines 2019: Planning and Design, 1–7.
El Chanati, H., El-Abbasy, M. S., Mosleh, F., Senouci, A., Abouhamad, M., Gkountis, I., Zayed, T., and Al-Derham, H. (2016). Multi-criteria decision making models for water pipelines. Journal of Performance of Constructed Facilities, 30(4).
Raucher, R. S. (2017). Managing infrastructure risk: The consequence of failure for buried assets.
Rehan, R., Knight, M. A., Unger, A. J., and Haas, C. T. (2013). Development of a system dynamics model for financially sustainable management of municipal watermain networks. Water Research, 47(20), 7184–7205.
Rehan, R., Unger, A., Knight, M. A., and Haas, C. (2015). Strategic water utility management and financial planning using a new system dynamics tool. American Water Works Association, 107(1), E22–E36.
San Luis, K.I, Ganjidoost, A., and Daly, C. (2019). Estimating Level of Service Impacts Arising from Water Main Breaks as Consequence of Failure. Pipelines 2019: Multidisciplinary Topics, Utility Engineering, and Surveying, 321–328.
Vladeanu, G., and Matthews, J. (2019a). Wastewater Pipe Condition Rating Model Using Multicriteria Decision Analysis. Journal of Water Resources Planning and Management, 145(12).
Vladeanu, G. J., and Matthews, J. C. (2019b). Consequence-of-failure model for risk-based asset management of wastewater pipes using AHP. Journal of Pipeline Systems Engineering and Practice, 10(2).
Vladeanu, G., Yazdekhasti, S., and Daly, C. (2021). Risk Analysis in the Absence of Data to Help Plan Capital Improvement Projects. UESI Pipelines Conference.
USEPA. (2018). Drinking Water Infrastructure Needs Survey and Assessment. Sixth Report to Congress.
Information & Authors
Information
Published In
Pipelines 2022
Pages: 34 - 42
History
Published online: Jul 28, 2022
Authors
Metrics & Citations
Metrics
Citations
Download citation
If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. Simply select your manager software from the list below and click Download.