Many areas of science have fundamental equations. The greatest physicists the world has ever seen have left their indelible stamp on our understanding of the universe through equations. Most subjects have an equation or two that is central to their philosophy and calculation – perhaps Colebrook-White is the one most water engineers hold dear. So what about asset management?
Asset management is about making decisions about managing assets. We try to do this quantitatively using asset behaviour models and cost knowledge and our economic framework to time our interventions optimally. In civil engineering, we often have to think many years ahead and the cost of money becomes important.
Alec Erskine, Senior principal consultant at MWH, now part of Stantec, explores how some key equations can assist with the business of asset management in water.
Read Fundamental Equations published by WWT Online here.