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Black identifying and evaluating rehabilitation, repair, and replacement needs;developing cost estimates of necessary improvements; and producing a capitalimprovement program that is prioritized using a defendable and statistically-basedprocess.This paper examines the detailed cost, probability, and timing estimates within acustomized financial evaluation model in order to analyze the value and risk mitigationeffectiveness of proposed capital projects. In particular, this paper discusses:in-depth definition of issues, possible outcomes, and probabilities;fully quantified value-at-risk specification of the inter-relationships amongprojects and issues; and, identification of innovative capital action programs with improved expectedoutcomes and reduced exposures.This capital prioritization process provides water and wastewater utilities with the abilityto obtain a strategic direction in very uncertain environments and to develop proactivecapital plans and investments that are evaluated on a consistent basis. In addition, thisprocess provides an easy-to-understand framework that facilitates "buy-in" and support across all organizational units. Includes 2 references, table, figures.

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Edition: Vol. - No. Published: 06/17/2005 Number of Pages: 12File Size: 1 file , 1 MB