Best-practice utility asset management guide to maximize lifetime value
The aging of infrastructure and other, major assets only increases the risk of service disruptions and safety incidents. As for meeting customer demands for high-quality services? Aging assets make it that much harder, if not altogether impossible. That’s why for most utilities, robust asset management has become the sole means to reduce risk, increase resilience, maintain performance, and improve the bottom line. But what does effective asset management look like for today’s utilities?ISO 55001, the international, best-practice standard for asset management, is the most effective way to optimize the management of assets throughout their lifecycle. The standard is applicable to all asset types in utilities of all shapes and sizes, in all industries. By building redundancy and resilience into the asset management process, ISO 55001 helps utilities retain assets longer, which results in cost savings. Consistent auditing then helps confirm efficiencies as well as identify deviations, letting utilities benchmark themselves against competitors and partners. But that primer only scratches the surface of the best practice standard. Looking for a deep dive into ISO 55001? Our comprehensive guide has got you covered, walking you through every section and annex to help you build resilience and reduce costs.
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