Asset Management Services for Electrical Systems

Asset Condition Assessment Services

Traditionally, utilities and distribution companies have maintained and replaced assets using a fixed plan schedule. These schedules often become dated and do not reflect the true nature of asset requirements. This can result in wasteful spending, potential decommissioning of assets too early, and unnecessary inspection when assets are performing well.

With our expertise and specialized technology, we can provide a streamlined and analytically rigorous approach that uses real-time performance data and predictive models to guide asset-management decisions.

We offer a complete range of asset management services that enable you to establish the optimal lifecycle management of assets. These services include:

• Establishing appropriate testing and inspections protocols for the life of the assets
• Strategies for end-of-life decisions (replace versus refurbish)
• Performing incident and post-mortem investigations to prevent future events
• Defining data and information requirements
• Reviewing and improving design specifications

With decades of experience and our deep utility roots, we provide robust action plans based on accurate assessment findings, advice on sound cost-effective maintenance protocols that support long-term capital investment plans, and we provide supporting recommendations.

Asset Management Software Solutions

We have partnered with several asset performance management (APM) platform providers. These platforms enable us to assist you in integrating data/information from multiple sources to automatically update asset condition assessments (ACA), tracking when asset conditions change due to planned or unplanned actions. The results are then presented in easy-to-understand customized dashboards and reports.

Our PROSORT tool provides a means to prioritize investments, regardless of the asset categories, by normalizing their estimated cost over resultant risk mitigation.

Asset Management Strategic Advisory Services

Asset-health indexes and criticality ratings are needed to identify which assets are in danger of failing and which assets are most important to a transmission or distribution network. Our asset management services capture and convey critical knowledge to incorporate into asset management plans and help inform regulators.

Our strategy-focused asset management services enable you to improve and standardize your decision-making processes based on optimal asset life and cost-effective maintenance and replacement strategies.

Our customized tools and methodologies assist you in your regulatory efforts by detailing management approaches with appropriate consideration of capital spending, system reliability, and cost of transmission and distribution services.

Examples of these services include:

• Using our investment prioritization PROSORT tool to prioritize investments based on a consistent basis regardless of the asset categories involved by normalizing their estimated cost over resultant risk mitigation
• Establishing performance metrics for specific lines of business to measure effectiveness, efficiency, and accomplishments of investments made
• Creating an asset management plan that provides a succinct summary of corporate decision-making processes, including power system needs and external and internal drivers that contributed to developing the business plan
• Assessing the state of corporate asset management processes as they relate to the ISO55000 standard

Regulatory and Legal Asset Management Support

• Assessing the state of corporate asset management processes as they relate to the ISO55000 standard
• Assisting with all aspects of the regulatory process, including preparation of direct evidence and supporting documentation, strategic positioning, response to interrogatories, and participation in oral hearings