Chapter 4: Life Cycle Management Plan The life cycle management plan is a coherent plan to deliver the best value for money for the assets’ owners whilst providing satisfactory service to the customers. The plan seeks to anticipate future requirements, manage risks and optimise decision making throughout the assets life. Components of the Life Cycle Management Plan 4.1 Background Data – physical parameters, asset capacity/performance, asset condition, asset valuation, historical data. 4.2 Infrastructure Risk Management. 4.3 Routine Operations & Maintenance Plan. 4.4 Renewal/Replacement Plan. 4.5 Creation/Acquisition/Augmentation Plan. 4.6 Disposal Plan. The lifecycle of an asset follows the progression shown below. Planning The process of preparing for a new asset, or non-asset solution, to a service delivery issue. Service delivery issues may derive from growth, a current or anticipated failure to meet levels of service or to replace a failing or obsolete asset. The planning process involves engineering expertise, legal compliance and community engagement to size, locate, programme and operate with consideration to design options, whole life costs, risks and non- asset alternatives. Creation The purchase, construction or vesting of an asset to the Council. The management of the design and construction to ensure the required quality is delivered on time and at the agreed cost. Operation & Maintenance The day to day running of the infrastructure to ensure a continual, effective and efficient service to the customer. Maintenance is the pro-active and reactive repair and servicing of assets. It is undertaken with respect to the ‘criticality’ of the assets and the overall quality of the service delivered. Rehabilitation Proactive restoration of assets to extend the serviceability and ultimate life expectancy in a cost effective manner. Renewal The controlled replacement of assets that have reached the end of their useful lives. Disposal The removal of redundant assets by decommissioning, physical removal, sale or re-utilisation for an entirely different purpose (ie; using decommissioned sewer pipes as cable ducts.) Page 34