Login | Register

A Value-based Approach for Municipal Asset Management


A Value-based Approach for Municipal Asset Management

Hwangbo, Wonyeel (2017) A Value-based Approach for Municipal Asset Management. Masters thesis, Concordia University.

[thumbnail of Hwangbo_MASc_S2018.pdf]
Text (application/pdf)
Hwangbo_MASc_S2018.pdf - Accepted Version


Asset management serves to schedule interventions to maximize the condition of municipal assets. However, municipalities face the daunting task of dealing with a wide variety of assets (civil infrastructure, facilities, buildings, vehicles, machinery and equipment) with a limited budget. There is a lack of an approach to optimize the scheduling of interventions across all types of municipal assets. There is also a disconnection between the effectiveness of the budget and its ability to upkeep the value of the assets as demanded by accounting and financial regulations. Previous attempts to handle multiple assets face problems in budget balancing given the dissimilar units of measurement of condition indicator for each asset type. This research proposes a value-based approach supported by deterioration and depreciation curves. Treatments are used to sustain or increase the value of all assets. A case study of the municipality of Kindersley is presented to showcases how the value-based approach is more financially-sustainable, yet cost-effective. The approach is flexible enough to accommodate all types of municipal assets, however for limitations of data the case study considers: street names, signs, hydrants, lighting, sidewalks, roads, sanitary pipes and water mains. An Excel platform with a special Add-in is used to host the database and performance curves and to define the optimization problem. An external solver is used to find the optimal solution. Results demonstrate a more stable long term progression for the value-based approach as compared to the condition-based. Meanwhile budget remain at very similar levels.

Divisions:Concordia University > Gina Cody School of Engineering and Computer Science > Building, Civil and Environmental Engineering
Item Type:Thesis (Masters)
Authors:Hwangbo, Wonyeel
Institution:Concordia University
Degree Name:M.A. Sc.
Program:Civil Engineering
Date:23 October 2017
Thesis Supervisor(s):Amador Jimenez, Luis
Keywords:Municipal; Asset Management Systems; Optimization; Decision Making; Condition-based approach; Value-based approach
ID Code:983125
Deposited On:11 Jun 2018 02:13
Last Modified:11 Jun 2018 02:13
All items in Spectrum are protected by copyright, with all rights reserved. The use of items is governed by Spectrum's terms of access.

Repository Staff Only: item control page

Downloads per month over past year

Research related to the current document (at the CORE website)
- Research related to the current document (at the CORE website)
Back to top Back to top