Value of monitoring
The proposed risk-informed bridge monitoring framework could be used to identify cost-effective and value-based monitoring strategies for bridges.
While the benefits of monitoring bridges are fairly well understood, securing the resources necessary for their development and installation is often difficult. Infrastructure owners are more likely to take action to provide these resources if the value accruing to them can be demonstrated. Narratives and case studies demonstrating value generation to support the business case for monitoring are crucial.
The CSIC research team recast the question ‘to monitor a bridge or not?’ into a formal economic decision-making framework by adopting the value of information (VoI) concept. This concept provides decision-makers with a rational means to consider the reliability and accuracy of data capture offered by different monitoring techniques and the whole-life gains to be made if the information contributes to establishing timely maintenance strategies. If the VoI is greater than the added cost of obtaining the information (the cost of the monitoring), then it is justified.
The proposed risk-informed bridge monitoring framework could be employed by senior managers and decision-makers to identify cost-effective and value-based monitoring strategies. For example, given a risk level of bridge disruption due to a particular defect, the asset managers can identity suitable monitoring strategies for the bridges on their network while considering the available budget, vulnerability of the bridge to disruptions and the associated impacts.
- View Dr Manu Sasidharan’s presentation about risk informed monitoring and management of bridges here
- Read more: Manu Sasidharan, Ajith Kumar Parlikad & Jennifer Schooling (2021). A business case for risk-informed bridge monitoring using value of information. IABSE Congress Ghent 2021 - Structural Engineering for Future Societal Needs.https://doi.org/10.17863/CAM.68546