Asset Management Plan - Newcastle City Council

Traffic Signals Life Cycle Plan♦♦♦♦Existing: Is the effect of a continuance of current funding levelsRequested: The amount of additional funding required based on customerexpectations and political aspirationsOptimum Service: Assesses constraints as well as desires to identify aneconomically optimal Level of Service. This option is determined from thelife cycle planning process.Attainable Service: Re-interprets the optimum option in the light ofavailable resources. (E.g. budget constraints).Table 18.7.1 Traffic Signal Service OptionsAsset GroupStatutory MinimumExisting(2005/6 Budget)Requested AdditionalFundingOptimumGeneraldescription ofeach ServiceOptionMinimum (Reactive)level of service meetingstatutory or legislativerequirements only.The current LoStypically as set out inthe City’s MP ornational. COPsA LoS that attempts tomeet customerexpectations andpolitical aspirationsLoS based uponengineering principles& technical judgementTrafficSignalsApprox. £115k paAn increase in maint.backlog & a steepdecline in asset value.Reactive costs are likelyto be significantly higherwithout regularmaintenance work beingundertaken.Approx. £429k paDoes not approximateto a steady state, butaim to deliver BestPractice as detailed inthe national COP forHi/W Maint. Mgmt.Unavailable at thistime.Unavailable at this time18.7.2 Levels of ServiceLevels of Service identified by Newcastle City Council specific to the Trafficsignal asset can be found in table 18.11.1 along with their identified performancemeasures.18.7 Risk Management– Traffic SignalsRisk is ‘the threat that an event or action can adversely affect an organisation’sability to achieve its objectives and to successfully execute its strategies’ (AuditCommission). A simpler definition might be ‘the chance of something happeningthat will have an impact on objectives’.A risk identification exercise has been undertaken and a risk register and matrixscoring system has been developed and is attached to this document as appendixB. The following are examples of the significant risks associated with this asset.18.8.1 Equipment failure leading to a major Road Traffic Accident whichcould result in:♦♦♦♦Loss of lifeSerious injuryDamage to adjacent property and servicesEnvironmental damage187