Active Asset Management

Abstract

Robust and real‐time asset management is crucial for distribution utilities to operate their infrastructure efficiently. The importance and challenge of asset management has also grown significantly in response to new regulatory requirements, growing customer expectations, and rapid technological advancements. While the importance of actively managing assets is understood within the utility industry, the application of “best practices” in asset management varies based on the asset's criticality to the business. Issues surrounding the management of system critical assets have significant implications for distribution system operations. The strategies and technologies used to maintain critical infrastructure, and an examination of how other industries like commercial real estate manage assets, can shed light on how utilities could improve their approach to managing both critical and non‐critical assets.