JD Solomon
Should Project Managers Rely on a Guesstimate?
Guesstimate blend of the words “guess” and “estimate.”
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JD Solomon
Aug 16
What's the Difference in Criticality and Risk in Your Asset Management Program?
...let's start with the difference between criticality and risk in your asset management program.
JD Solomon
Jul 23
Asset Management: When to Apply a Risk Matrix or Monte Carlo Analysis
Context is fundamental to all, including the international standard for asset management and the international standard for risk management.
News
Oct 22, 2023
Managing Assets from Behind? How to Get the Financial Funding That You Need
All facilities and infrastructure assets deteriorate with time and use. To maintain the effectiveness and value of an asset, renewal work...
JD Solomon
Oct 2, 2023
Asset Management: Why Important Differences in Useful Life and Service Life Matter
The purpose of a useful life estimate is to determine how long an asset will remain in useable condition. "Useful life" is not the same...
J.D. Solomon
Mar 15, 2023
Why Embrace Monte Carlo Analysis for New Project Development
Monte Carlo analysis or Monte Carlo simulation is a technique used for forecasting which considers uncertainty and variability. As an...
J.D. Solomon
Feb 15, 2023
Beware of Monte Carlo Analysis for New Project Development
Monte Carlo analysis has some key limitations which make the technique a major cause of concern for new project development. This article...
J.D. Solomon
Oct 11, 2022
How to Overcome the Fear of Using the Wrong Probability Distribution
Probability Distributions The probability density function (PDF) is applied to continuous random variables, whereas the probability...
J.D. Solomon
Sep 26, 2022
Three Solutions for Establishing Useful Probability Distributions
Monte Carlo simulations are the best approach for assessing uncertainty for future infrastructure and facilities funding requirements....
J.D. Solomon
Sep 19, 2022
Why Are You Wasting Infrastructure Money By Not Using Monte Carlo Analysis?
Understanding the total cost of ownership is a fundamental principle of asset management of facilities and infrastructure. However, all...
J.D. Solomon
Nov 11, 2021
Drinking Treated Wastewater Is Still A Few Years Away
Drinking treated wastewater is still a few years away because there is not enough demand for it. The technology exists that makes it...
Experts
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