Renewal Program
A Renewal Program or more formally an Asset Renewal Program is a program of scheduled works designed to return assets of a given type to as new condition.
In its most basic form an asset renewal program is a list of proposed renewal works programmed for a particular year or years and with an estimated cost assigned to each item.
The proposed timing of works will typically be based on the Remaining Useful Life of the asset being renewed, but the availability of funding and resources may also effect the program. (Ideally an asset with an RUL of x years, will be programmed for renewal in x years time.)
Before a renewal program can be developed:
- Service levels need to be set.
- The condition of assets needs to be known.
- The relationship between condition and remaining useful life needs to be understood.
- Treatment options need to be identified and their costs determined.
Example Renewal Program
Related Pages
- AMP Renewal/Replacement Plan
- Asset Renewal
- Capital Works Prioritisation
- Capital Works Program
- Renewal
- Renewal Planning
Contributors
The following site members have contributed to this page:
External Links & References
- Google Search (Asset Renewal Program)
- Google Search (Renewal Program)
- Section 3.4.4 of the 2011 International Infrastructure Management Manual