Cost Reduction Strategies for Utilities Part 4: Strategic Asset Management and Asset Health Tracking

Today, utility asset managers can have access to higher quality “realtime” data. For instance, with mobile devices with barcode scanners technicians can record and tag the results of equipment maintenance and test result so their values can be tracked against acceptable norms to flag any abnormalities that may warrant further inspection. If this information can be monitored and tracked for all major or critical equipment, then at any time there’s a good indication of enterprise wide assets health. With data at fingertips it is easy to start looking for patterns such as assets nearing end of optimal useful life before reliability metrics start being impacted or risk of costly catastrophic failure start becoming unacceptable resulting in long-term operational savings.

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