Smart Water Magazine
Connecting Waterpeople
Smart Water Magazine
Subscribe to the newsletter with the latest and most relevant news of the global water sector.

Fracta releases new software to quantify financial and non-financial risks of water main failures

0
15
  • Fracta releases new software to quantify financial and non-financial risks of water main failures

About the entity

Fracta
Fracta is Bringing Artificial Intelligence to Infrastructure. Fracta's SaaS platform uses Machine Learning to visualize, assess and monetize the risk associated with aging water distribution water mains.
· 15
0

Themes

Fracta, a technology innovator applying Machine Learning to aging water infrastructure, has extended the capabilities of its market leading Fracta Likelihood of Failure (LOF) software to include Consequence of Failure (COF) and Business Risk Exposure (BRE).  With LOF, COF and BRE, Fracta enables water utilities to assess and monetize the business risk associated with the failure of drinking water distribution mains. 

  • Fracta LOF determines the probability that a water main will fail.
  • Fracta COF determines the consequences, or severity, of the failure.
  • Fracta BRE uses LOF and COF to calculate the direct and indirect cost of water main failures.

Fracta's approach provides an objective assessment and translates the results into financial terms that water engineers, planners and finance professionals can use to make fast, accurate and capital-efficient risk mitigation decisions about buried water main infrastructure. 

"Our interaction with almost 100 water companies over the last 2 years indicated that the industry was ripe for a change in how to approach water main replacement business risk," said Joel Weingarten, Senior Vice President of Product and Engineering. "With our foundation in Machine Learning, it was a natural extension for us to apply it to financial quantification of failures." 

Fracta LOF, COF and BRE are part of the Fracta SaaS platform which is fully integrated with Esri's market leading ArcGIS software.  Municipal and investor-owned water utilities will be able to assess and visualize the Likelihood of Failure, Consequence of Failure, and Business Risk Exposure associated with aging water distribution water mains.

"Our integrated software platform also provides an architectural framework to readily integrate with other important software applications used by water utilities such as Enterprise Asset Management (EAM), Computerized Maintenance Management Systems (CMMS), and Hydraulic Modeling," says Weingarten. "This way utilities can leverage past technology investments."