Component Quantity/Size
The quantity/size of a component in the Metrix Asset Management system is stored within the ‘Cost Units’ value, in the ‘Intervention’ info panel. Given that component shapes and measurement techniques differ from type to type, and the method of ascribing a cost to that shape/technique is variable, the cost units value of a component is not restricted to a specific component metric such as length, area, volume, etc. Rather, the cost units number field is free to represent whatever quantity that is required to satisfy the assigned intervention treatment.
The cost method merely controls the calculation configuration for replacement cost. To perform the calculation, the treatment must have an assigned Unit Rate relative to the cost method. Also, the Component must have a valid ‘Cost Units’ multiplier - in the correct Unit of Measure defined by the treatment - for that Unit Rate.
Metrix also supports the implementation of cost unit formulas to automatically calculate these values based off the value of certain metric fields. This is covered in another section pertaining to Smart Attributes and Cost Unit Formulas.
Consider the road surface component of a road Asset. The treatment associated with the component is called ‘14/7mm Initial Seal’ and has the following properties:
- Units of Measure: Square Metres
- Cost Method: Unit Rate
- Unit Rate: $3.25
- Default Useful Life: 15 years
From this, we can determine that the component’s cost units are measured in ‘Square Metres’ and, given the ‘Cost Method’ is ‘Unit Rate’, the replacement cost will be calculated by multiplying the ‘Unit Rate’ by the ‘Cost Units’.
Given that the road surface is 1200 sq.m, the cost units for the Component is 1200.