Asset Condition Survey

Return assets to a maintainable condition

Asset Condition Survey Overview

As assets age, we are faced with growing challenges and uncertainties that impact cost, safety, and regulatory compliance.

Over time, assets need to be repaired, upgraded or replaced to meet operating objectives. Budgets need to be developed and alternate scenarios will be required to support the right decisions. Without the right information about an asset’s health and costs, it is difficult to develop appropriate asset management plans and capital budgets.

Asset Condition Survey Approach

Our Asset Condition Survey can provide you with accurate, objective data about the health of your assets and facilities so that you can target capital investments in a structured way, based on facts.

We provide the necessary detail to enable stakeholders to identify the current condition and optimal timing for refurbishment and replacement of assets to achieve maximum economic recovery.

Our approach is based on physical inspection supported by analysis of maintenance data and history to forecast the remaining life of assets and the appropriate maintenance strategies.

Our surveys can build asset hierarchies, provide asset tagging for new installations, help confirm the accuracy of the asset register and identify assets in a dangerous condition or requiring maintenance attention.

The Benefits of an Asset Condition Survey

MCPs’ Asset Condition Surveys are bespoke to meet your specific needs, using in-house software for data collection and analysis.

Our surveys include:

  • Review and collect equipment nameplate and configuration information (where needed)

  • Identify asset condition

  • Determine useful remaining life

  • Propose maintenance life strategies

  • Determine life cycle costs

  • Build capital replacement plans and associated 5/10/15 budget forecasts 

  • Maintenance life plans

  • Life Cycle Costing Modelling

  • Sinking Fund Development

We use life cycle costing models to build capital replacement plans and forward capital expenditure forecasts including sinking fund models, for different types of assets, for whole sites to single items of mechanical equipment.