02 — Capability · BC-680.60
Asset Investment & Replacement
Decide when to overhaul, upgrade or replace assets on the balance of risk, cost and remaining life, and build the capital plan that funds it before the asset makes the decision for you.
- Asset Investment Planning
- Capital Replacement Planning
In scope
- Remaining useful life and condition assessment
- Repair-versus-replace analysis
- Multi-year asset capital plan
- Total cost of ownership tracking
Out of scope
- Capital budgeting and approval process (see BC-220)
- Project delivery of the replacement (see BC-180)
Decomposes into · 3
- BC-680.60.10Asset Condition & Life AssessmentEstimate remaining useful life from condition, age, duty and history for each significant asset, with a confidence that is stated.
- BC-680.60.20Repair-Versus-Replace AnalysisCompare the cost and risk of continuing to maintain an asset against overhauling or replacing it, over its remaining life.
- BC-680.60.30Asset Capital PlanningSequence replacements and major overhauls into a multi-year plan that fits the capital envelope and the outage calendar.