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Asset management systems are complex and challenging due to their involvement with utilities and consumer entities. However, they facilitate cost, risk, and performance collaboration.
Fremont, CA: In light of weather changes, policy changes, and public opinion on energy consumption, utility asset managers face challenges managing long-term risks and asset failures. It's time to get used to greener energy and federal infrastructure, like improving electric grids and moving away from carbon.
Basics of Utility Asset Management
Managing utility assets effectively starts with understanding the industry's complexities. Here are some basics:
● The Long-Term Vision and The Short-Term Strategy Have to Align in Asset Management: To achieve a sustainable network that requires collaboration, asset managers should incorporate preventative thinking into their daily operations, addressing stakeholder challenges, demand evolution, and day-to-day operations.
● Three Things Make Up Asset Management: Risk, Cost, And Performance: Asset managers estimate the cost of risk mitigation plans based on risk, price, and performance.
● Asset Management Isn't Just Maintenance, Operations, and Or Individuals: Asset management systems are complex and challenging due to their involvement with utilities and consumer entities. However, they facilitate cost, risk, and performance collaboration.
Risk-based asset management calculates aging asset risks and predicts failure outcomes, saving utilities money in the long run and avoiding costly occurrences and reputational risks.
Steps Every Utility Asset Manager Should Follow
A risk-based asset management approach achieves this. It consists of five steps:
1. Develop A Methodology To Assess Asset Failure Risk In An Organization: Utility companies often adopt platforms and methods that generate quick value, reducing asset failure modes. Using data to improve risk modeling improves asset management efficiency and effectiveness.
2. Develop Asset Registry-List Relevant Assets: A data register for purchases is crucial for failure risk analysis because it calculates stuff like aging, environmental aggression, duty rate, and failure history. Using satellite or LiDAR data, you can estimate vegetation risk and quantify it with post-processing and computer vision.
3. Determine The Probability of Failure (Pof) Based on Natural Conditions for Each Asset Category: When assessing asset failure risk due to aging, utilities can use aging models for each asset category, derived from annual failure probabilities, to estimate the likelihood of failure.
