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Type
Lecture

Managing the asset time bomb: a system dynamics approach, London

Event organised by ICE

Date
09 February 2015
Time
18:00 - 19:30 GMT
Location
Institution of Civil Engineers
One Great George Street
Westminster
London
, SW1P 3AA
United Kingdom

This event has now ended

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Overview

For organisations responsible for managing the UK's national infrastructure, particularly those that are tightly regulated, a major challenge today is how to maintain performance of their infrastructure assets within the constraints of both limited budgets and externally set performance targets.

This problem becomes more acute when significant members of an asset base approach an end-of life state at the same time. Resolving this problem has often proved difficult as it doesn't readily lend itself to exploration with traditional analytical and forecasting tools.

This presentation discusses how system dynamics methods and tools have been successfully used to develop a new approach to asset and infrastructure planning which builds simulation models that both give insight into the nature of the asset time bomb threat but, more importantly, enable the development of asset management policies and strategies that will eliminate the threat.

The talk includes a description of system dynamics showing the detailed structure of the models developed.

Speaker

Dr. Robert Thurlby

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ICE Events Team