The Canberra Chapter invite you to the next Technical Session:
Managing Assets Like an Actuary, by Tim Anderson, Asset Strategy Manager at ActewAGL Distribution
Thursday 7th November 2013
About the Presenter
Tim Anderson is a chartered engineer with engineering degrees from UNSW, he also has a Master of Actuarial Studies degree from ANU. Tim’s responsibilities include overseeing the asset management planning process, forecasting electricity demand and identifying network constraints.
About the Presentation
Abstract
Asset management involves forecasting the future lifetime of assets, cash flow modelling and optimising return on investment. Actuaries carry out a similar function in their insurance and superannuation work. They forecast human lifetimes and the cash flows associated with various events (e.g. retirement).
To apply actuarial techniques in solving problems in engineering asset management, ActewAGL Distribution employed an actuarial studies graduate to work in the asset management team.
This presentation is about how we analysed failure rates to produce actuarial life tables for assets. Ordinary life tables show that a person who has survived until a certain age (having avoided various mortality hazards along the way) has a greater expected total lifetime than a newborn. Similarly, an asset that has survived until a certain age also has a greater expected total lifetime than an identical new asset. Using such survival analysis, we are able to forecast the remaining lifetime of each asset and improve our cash flow modelling. Asset survival times are not recorded as thoroughly as human survival times, so we have applied statistical techniques to deal with gaps in our asset databases.
Where, When & Registration
Date: Thursday 7 Nov 2013
Time: Networking from 5.30pm to 6pm. Presentation from 6pm to 6.45pm. Question time 6.45 to 7pm Coffee/Tea and nibbles provided
Where: Engineers Australia, Engineering House 11 National Circuit, Barton, ACT
Cost: Nil
Registration: Desirable – to plan refreshments.
- AM Council Members – Click here to register via your AM Council Login and click on Events / View/Register
- Non-Members – Please call or email – Raj Navis, Canberra Chapter Chair – 0432 064 168, Raj.Navis@amcouncil.com.au
We look forward to seeing you.
