What is @asset management?
Asset Management tells your story in 5 chapters, the 5 core components. The resources found here will help you understand each of the five core components. What assets do you manage, where are they, what condition are they in, what is their useful life, how much are they worth, and what is their energy use?
What do utilities need to know before implementing asset management?
Before implementing an asset management system, utilities must have a clear understanding of the current state of all existing assets. This provides a baseline for ongoing measurement, analysis, maintenance planning, and resource allocation.
What are the components of every process?
Every process consists of a set of identifiable flows and value-added activities that are comprised of information flow, physical flow and financial flow. True or False? Meeting customer expectations requires a shift from a functional organization to a process orientation.
What are the most critical assets in a business?
The most critical assets are those at high risk of failure, which also pose major consequences when they do fail, such as major expenses, system failure, serious safety concerns, and other challenges. Determine which assets are most critical and rank them accordingly.
ASSET INVENTORY
What assets do you manage, where are they, what condition are they in, what is their useful life, how much are they worth, and what is their energy use?
LONG-TERM FUNDING
Do you have funding sources to provide the capital you need for O&M, capital replacement and energy efficiency improvement?
LEVEL OF SERVICE
What level of service do you want to provide for your customers? How will you measure performance?
LIFE CYCLE COSTING
Is there a strategic plan for operating and maintaining system assets? Is a process, based on risk, in place to determine when to repair, rehabilitate or replace assets? Are you considering energy efficiency?
CRITICALITY
What is the overall business risk based on probability and consequence of asset failure? Is there redundancy to reduce risk?
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