Asset Renewal Investment For Critical Infrastructure Network: A Systems Approach
Modern societies heavily rely on infrastructure to provide a safe, reliable, and resilient environment for their citizens. Critical infrastructure, such as transportation, water, and electricity systems, must be managed effectively to minimize interruptions in value delivery and maintain consistent performance in a cost-effective manner. However, conventional risk-based approaches to renewing infrastructure assets focus on individual assets and fail to address the risks associated with interdependencies, an inherent characteristic of assets within a network. Interdependencies, whether physical or geographical, are crucial decision-making factors, as the value of infrastructure is derived from the network's ability to deliver services, not from the performance of individual assets alone. Consequently, decisions based solely on individual asset performance degradation fail to capture the "true" impact on the overall network. To address these challenges, this study proposes three key areas of focus. First, it will explore how to classify assets within complex infrastructure networks into distinct systems, thereby enabling a systemic evaluation of interdependencies. Second, it will analyze the interdependencies among assets, systems and networks in terms of performance degradation and service interruption during both normal and disruptive periods, ultimately identifying associated risks. Finally, the study will propose a framework for asset renewal decision-making that incorporates risks derived from various disruption scenarios.
PhD Student
