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6.5 Workshop 4 — Consequence of Failure and Risk: The CONSULTANT will conduct a full day workshop to establish the methodology and scoring definitions for Consequence of Failure and Risk for aboveground assets based on industry best practices. The methodology will involve a triple bottom line approach to scoring the Consequence of Failure and incorporate the concept of redundancy. Examples of Consequence of Failure and Risk calculations will be introduced from other utilities. The concept of using Risk scores to prioritize assets for enhanced maintenance or capital replacements will also be discussed. 6.6 Condition and Risk Assessment Draft SOP: All methodologies established in Task 5 will be documented in a Standard Operating Procedures Document to form the basis for completing the aboveground asset pilot assessment and to support future assessment activities in a consistent and standardized way. Task 6 Deliverables: • Workshop materials and meeting facilitation for 4 Workshops • Draft SOP for aboveground condition and risk assessment methodology Task 7 - PILOT ASSET CONDITION AND RISK ASSESSMENT This task consists of applying the draft Condition and Risk Assessment SOP created in task 6.6 to validate the SOP meets the needs of IRCDUS. Approximately 4 days of field physical condition assessment will be conducted at select facilities in addition to desktop evaluations to complete the inventory and calculate a risk score for each asset as well as a remaining life estimate. 7.1 Asset Inventory and Supporting Data: The CONSULTANT will use the exports from the existing maintenance management software to populate the initial inventory database and request data for review related to the consequence of failure and performance criteria established. All information including facility as built drawings will be reviewed by the assessment team leader prior to field work. 7.2 Field Physical Condition Assessment: The CONSULTANT will assemble an assessment team consisting of a mechanical, electrical, and structural engineer to visually assess assets for up to 4 days. The team will utilize the CONSULTANT's Asset Hound tablet based data collection system to update and validate the inventory and collect the appropriate physical attributes and condition scoring. 7.3 Desktop Assessment and Risk Scoring: The CONSULTANT will hold a half day workshop directly following the field condition assessment with IRCDUS operations and maintenance staff to score the other asset failure modes, consequence of failure and redundancy as defined in the draft SOP. This will facilitate an overall risk score for each asset as well as a remaining life estimate. Planning level replacement cost estimates will be calculated by the CONSULTANT for each asset based upon the methodology established in task 6.4. Useful Life estimates based upon task 6.4 will also be applied to facilitate long term funding needs projections. Page - 7 INDIAN RIVER COUNTY UTILITIES ASSET MANAGEMENT PROGRAM SERVICES P112