Understanding asset management practices: results of a survey on technical and economic useful life Available to Purchase

Accurate estimation of an asset’s lifetime is essential for making informed decisions about maintenance, renewal, or disposal. This study presents the findings of a survey to understand how professionals evaluate the useful technical and economic life of services when planning projects and renewing assets. In addition to the survey, semi-structured interviews were conducted to gain deeper qualitative insights into experts’ reasoning, challenges, and decision-making processes. The survey targeted individuals from diverse professional backgrounds and experience levels to capture a wide range of perspectives on the prioritisation of asset lifetime considerations, particularly useful technical and economic (UEL) life. Insights from the interviews complemented the survey results by revealing contextual factors that influence how asset lifetime is assessed in practice by experts. Results indicate that, while technical factors are predominantly considered, economic factors, especially the UEL, are often overlooked. The paper offers important insights into current practices and challenges faced by industry professionals in managing assets, emphasising the need to consider both technical and economic aspects when making maintenance and renovation decisions.