For comprehensive asset management support and to learn more about our economic evaluation services and risk assessment services, contact the BIS Consulting team at (206) 551-5496.

For expert assistance with economic evaluation services, asset management support, or risk assessment services, feel free to contact our BIS Consulting team at +1 (206) 551-5496.

About BIS Consulting

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BIS Consulting, LLC, is an employee-owned company that provides comprehensive decision-support and risk assessment services to utilities, transit agencies, and other infrastructure-intensive industries. Our consulting services focus on delivering premium asset management support to clients who require robust methodological and analytical assistance for policy, capital planning, and other critical decisions. We emphasize quantitative methods and risk-based business cases, ensuring that our economic evaluation services communicate effectively with executive managers, regulators, customers, and other non-technical stakeholders.

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In many asset-intensive organizations, there exists a significant amount of knowledge—both explicit and tacit—among technical personnel. However, these individuals often struggle to translate their expertise into a justification for spending that resonates with non-technical decision-makers. Our goal is to provide asset management support that bridges this gap.

BIS Consulting emphasizes knowledge transfer and training in our work with clients, adopting a hands-on, personalized approach. We prioritize delivering comprehensive economic evaluation services and risk assessment services over mere tools or studies that are likely to remain unused.

Risk-based economic life methodology:

BIS Consulting provides asset management support to utilities by applying a risk-based economic life methodology for informed spending decisions related to aging assets. This methodology involves quantifying the cost of risk and maintenance as assets age and their likelihood of failure increases. By utilizing economic evaluation services, utilities can assess the trade-off between delaying capital expenditures and rising risk, ultimately determining the optimal service life of their assets through effective risk assessment services.

Asset management support services:

BIS Consulting provides asset management support to utilities, helping them develop comprehensive asset management programs and tools. This includes creating asset registers, developing failure probability curves, and implementing health indexing systems to assess the condition of assets. By leveraging our risk assessment services, these tools enable utilities to prioritize spending, optimize maintenance programs, and make informed decisions regarding asset replacement or refurbishment. Additionally, our economic evaluation services enhance these efforts, ensuring a well-rounded approach to asset management.

Long-range spending forecast:

BIS Consulting offers robust asset management support to utilities by projecting their long-term spending requirements for asset replacement and maintenance. Through our economic evaluation services, we analyze the remaining economic life of assets and assess factors such as risk and consequence of failure. This comprehensive approach enables BIS Consulting to provide utilities with a clear view of their future spending needs, enhancing their financial planning through effective risk assessment services.

Prioritization:

BIS Consulting provides asset management support to utilities by assisting them in prioritizing their spending based on the benefit/cost ratio of various projects. By utilizing economic evaluation services and considering the urgency of replacements along with the potential consequences of failure, utilities can effectively determine which projects will yield the greatest net benefit while benefiting from risk assessment services.

Development of projects:

BIS Consulting provides asset management support to utilities by developing and evaluating projects for asset replacement or refurbishment. This includes offering economic evaluation services to assess the cost-effectiveness of various intervention options and determining the optimal timing for executing projects. Additionally, BIS Consulting supports utilities with risk assessment services to manage maintenance activities and optimize the use of spares.

Sensitivity analysis:

BIS Consulting conducts sensitivity analysis as part of its economic evaluation services to test the stability of conclusions and assess the impact of uncertainties in the data. This approach provides asset management support to utilities by helping them understand the robustness of their spending decisions and identify areas where further analysis or data collection, including risk assessment services, may be needed.

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Our Services

The purpose of the economic life mode

Overall, BIS Consulting's services provide essential asset management support to help utilities make informed and cost-effective decisions regarding their aging assets. By applying a risk-based economic life methodology and utilizing advanced analytical tools, BIS Consulting delivers comprehensive economic evaluation services and risk ass

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The purpose of the economic life mode

The purpose of the economic life model is to optimize the timing of asset replacement by balancing the trade-off between delaying capital expenditures and the increasing risk of failure as the asset ages. This model incorporates asset management support by considering factors such as age, condition, consequence of failure, and replacement cost to determine the best timing for replacement. It aims to minimize the total cost of ownership while ensuring the reliability and performance of the asset. Additionally, it aids utilities in making informed decisions regarding budgeting and prioritization of replacement projects. Through economic evaluation services, the model evaluates and optimizes spending decisions related to aging assets, provides long-range spending forecasts, supports maintenance optimization, and assesses the cost-effectiveness of holding spares. Overall, the economic life model helps utilities make cost-effective decisions that maximize benefits for ratepayers and stakeholders while incorporating essential risk assessment services.

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Working with BIS Consulting

The purpose of the economic life mode

Working with BIS Consulting

Working with BIS Consulting involves utilizing their expertise in asset management support and decision-support methodologies to make informed spending decisions regarding aging assets. They provide valuable assistance in areas such as risk assessment services, capital planning, and life-cycle cost analysis for various industries. BIS Consulting helps develop models and tools to assess asset health, failure probability, consequences of failure, and intervention options. Additionally, they assist in long-range spending forecasts, prioritization of replacements, project development, maintenance optimization, and spares assessment. With extensive experience working with various utilities and organizations, BIS Consulting delivers customized solutions tailored to specific needs and requirements. Their approach incorporates economic evaluation services to optimize replacement timing, considering critical factors such as failure probability, consequences of failure, replacement cost, and the time-value of money. This comprehensive analysis aids in developing a long-range spending plan and prioritizing replacement projects.

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