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Project Summary:
The INVESTOR project aims to transfer asset “systems” life cycle based deterioration modelling, prediction and intervention technologies from the Oil & Gas (donor) sector to,initially, the water sector (engineering recipient) sector. In addition, the excellence in mathematical modelling and interactive analysis developed in the Defence (donor) sector will be harnessed in the production of the INVESTOR suite of modelling tools. INVESTOR is designed to enable whole life cycle based optimisation of maintenance and renewal interventions for interacting elements within an asset system. It offers user configurable time frames and can be employed as a decision support tool.

The model can be configured with the predicted investment profiles for a user defined planning horizon. This allows monitoring of actual physical asset condition, performance and investment against the asset management plan. This provides a key tool for enabling performance-based contracts. The simulation engine has been designed to minimise the data needed to provide acceptable predictions so that the model can be applied at an acceptable cost. The data management technologies employed enable INVESTOR to be incrementally applied and a depth of complexity added over time.

The supply chain version of INVESTOR is offered as a shared system for manufacturers to work in strategic alliance with asset owners. The system facilitates performance and deterioration data feedback to the manufacturer to enable the continual improvement of products, services and competitiveness.

Project Partners:
3x Manufacturers
Asset Management Consulting Limited
British Pumps Manufacturers Association
British Water
Kalido
Newmann & Spurr
Northumbria Water, Essex & Suffolk Water
United Utilities (North West Water; Welsh Water
Water UK

Need:
The water sector is concerned about the potential for insidious decline in their asset base. Resolution of this concern requires an understanding of asset deterioration and investment implications. This provides an opportunity for manufacturers and infrastructure owners to work together in developing an understanding of the asset systems’ “whole life” condition, performance and investment behaviour.

Solution:
INVESTOR was conceived as a vehicle for best practice asset management methodologies to be combined with leading technologies to provide an integrated solution to a complex modelling and data management challenge. The resultant INVESTOR Suite of Modelling Tools has been developed to minimise data collection and maximise interactive data analysis. The simulation engine embodies and extends best practice while maintaining a high level of data integrity and user input and interpretation.

Benefits:
INVESTOR will satisfy the need for infrastructure owners and regulators to monitor not only asset expenditure but also the resultant asset deterioration and performance. INVESTOR provides a strategic vehicle for infrastructure owners and manufactures to share information in order to improve the performance of their products and enhance their competitiveness. INVESTOR allows the collaboration partners to demonstrate their capabilities in a manner that could not be achieve by an organisation working alone.