3 Mar Mitigation is the hidden dividend in Asset Resilience
Posted at 11:09 in Flood Resilience by Henrik Pedersen
Asset Resilience is often classified purely as an approach to asset protection and the removal or reduction of risk from that asset. This is only part of the story and it misses a key element of the benefit of a resilient approach.
Let’s take a bund around an electricity transformer as an example. The bund is there to protect the environment from a transformer oil leak and often as a barrier to protect the transformer from any flood.
To make a bund, and therefore the transformer, resilient you would normally ensure the bund is both waterproof and built high enough so floodwater can’t affect the transformer. At the same time you would protect the interior of the bund with a lining that would prevent an oil leak from entering the environment.
So far so good; the asset is now protected. But what about when the transformer does leak or an unexpectedly severe flood arrives?
There is a clean up required and this is where the hidden dividend lies.
Clean up and remediation costs can be significant, but a properly resilient asset can drastically reduce those costs by design. A properly lined bund can be cleaned in a few hours because oil is contained in a way that makes it is easy to clean up. No leaks, no concrete contamination, no environmental issues, no additional build
costs etc.
Thinking about mitigation as part of your asset resilience strategy, and the total cost of ownership of an asset over its life, your overall build and maintain budget
can be reduced significantly.
Mitigation is the unexpected work that no-one wants, but with Asset Resilience
there is a dividend.