Improving data collection strategies and infrastructure asset management tool utilisation through cost benefit considerations

Abstract

Infrastructure asset management (IAM) depends on systematic data management to support its processes. Data collection and management can be costly, and it is therefore important to utilise data efficiently – however, it is not always straightforward to evaluate the benefits of data collection. This paper proposes a methodology for assessing the cost-benefit relationship between data collection and data utilisation for IAM tools. In this methodology, the costs are expressed as the work hours invested in collecting the data, while the benefits are expressed as informational outcomes. The methodology has been developed in a spreadsheet, and is demonstrated in a real water utility. This paper shows how the methodology can be used by a utility to assess its current cost-benefit situation for their IAM data, and utilise the cost-benefit results to improve the information effectiveness of its IAM tools.