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Asset Management Definition - <br />Adapted from US EPA... <br />Asset Management is a body of <br />management practices that... <br />Targets the <br />acceptable level Manageme <br />of risk to the Practices <br />organization <br />Defines and delivers O <br />service levels <br />customers desire and <br />regulators require <br />O Arcadis 2017 <br />04ARCADISI Oeslgn&Consultancy <br />fornauiltturaland <br />bassets <br />IAARCADISIR"" <br />Applies to the entire <br />portfolio of <br />infrastructure assets at <br />all levels of the <br />organization <br />• Seeks to minimize <br />I total costs of <br />,$ acquiring, operating, <br />maintaining, and <br />• renewing assets <br />Works within an <br />environment of <br />limited resources <br />CAARCADISIm° " <br />Risk Based Decision Making is the Foundation of <br />Asset Management <br />Leading <br />Practice <br />Asset <br />Management <br />Levels of Service Risk Management Optimized CIP <br />Based on Based on Using Life Cycle <br />Customer and Likelihood and Cost, Business <br />Stakeholder Consequence of Cases and <br />Expectations Failure Prioritization <br />O A—dis 2017 <br />1%X" 3 <br />