The ACAT was developed in collaboration with Gippsland Water but is broadly applicable to any utility or council.
Consequence models are tailored to align with corporate risk tolerance, then populated via a range of GIS-based and information elicitation techniques. The parameterised models are then used to assign potential failure consequences to each asset expressed as a monetized cost.
The tool provides visualisation of asset criticality, allowing life cycle management strategies to be determined, as well as forming the basis of effective risk-cost-benefit analysis.
The website allows users to view the results of these calculations, including a range of summary reports. Administrative level users are able to update the inputs used in the calculations and initiate a recalculation of the asset consequences and criticality.
Populating the ACAT can be supported via the use of ICAT (Intangible Consequence Assessment Tool), which provides a systematic means of monetizing consequences for asset classes or individual assets based on an elicited willingness to pay to avoid business impacts.