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© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license //This article belongs to the Special Issue Sustainability and Resilience of Engineering Assets ; The frequency and severity of natural or human-induced disaster events, such as floods, earthquakes, hurricanes, fires, pandemics, hazardous material spills, groundwater contamination, structural failures, explosions, etc., as well as their impacts, have greatly increased in recent decades due to population growth and extensive urbanization, among other factors. The World Bank estimates that the total cost of cities’ and communities’ vulnerability to these types of disasters could reach more than USD 300 billion per year by 2030. However, it has been argued that investment to improve the quality and resilience of engineered physical assets that are the backbone of modern societies, such as critical infrastructure, industrial facilities, and buildings, could significantly contribute to more sustainable and prosperous societies. Engineered assets are key to the delivery of essential services, such as transport, food, water, electricity supply, health and safety, etc. Some of these physical assets are integrated into asset systems and national or regional networks, with life cycles of several decades or even centuries. It is, therefore, of great importance that strategies and life cycle decisions, such as those related to short- and long-term capital investment planning, maintenance strategies, operational plans, and asset disposal, lead to the maximization of the value derived from these assets. Moreover, it is essential that the achievement of these goals is sustainable over time. Organizations dealing with engineering assets, both public and private, must, therefore, integrate sustainability and resilience concerns into everyday operations, using budgets that are often restricted, while also meeting demanding performance ... |