Asset Management Knowing the Distribution Network in Order to Improve It
News | 9/2/2024
Asset Management: knowing the distribution network in order to improve it
The utilities sector includes all those companies involved in providing essential services to the community, such as electricity, gas, water, district heating and waste management.
The distribution networks and facilities of these companies constitute a complex and vital system for our society. Asset Management (AM) is the discipline that deals with managing all the components of this system strategically and throughout their lifecycle with the aim of maximising value and durability, while ensuring continuity of service.
Innovation
Investing in continuous improvement of the Distribution Network means increasing its resilience, ensuring efficient and reliable service delivery, minimising outages and maximising energy efficiency.
In this context, an AM software platform plays a key role in the efficient and strategic management of grid components, infrastructures and plants and supports the DSO in keeping track of each update, monitoring operation and all maintenance activities (scheduled and unscheduled) through automatic procedural standards.
Digitization
Asset Management (AM) and asset digitalisation
Asset digitalisation is changing the way organisations manage their assets; in AM, the main objective is to control information and activities on assets.
In this context, the term ‘digital twin’ is introduced as a virtual copy of a physical object obtained through the use of digital technologies. To create a digital twin it is therefore necessary to bring together data from different applications (GIS, WFA, Predictive Maintenance Models, Sensors & IoT, Scada, etc.) in a single system.
An AM software is the key tool to transform asset management from a manual and fragmented activity to a digitised, efficient and data-driven process. It provides a complete and up-to-date view of assets through centralised, structured and easily accessible information.
In particular, assets and components are surveyed in the system with all the detailed characteristics necessary to carry out the activities.
This centralisation of information together with the optimisation of maintenance and, more generally, life cycle management, makes AM's software a valuable support for managing assets in a sustainable way and creating value from each activity.
The asset life cycle is the set of stages from the acquisition of the asset to its dismission. When we refer to the Distribution Network, we can identify some main macro-phases:
Installation: the asset is installed, configured and commissioned;
Maintenance: fundamental to guarantee its accuracy and durability;
Replacement: necessary in the event of failures, upgrades, changes in the context;
Decommissioning: the asset is removed from the Distribution Network.
The information flow that goes through the entire life cycle of the asset can be defined by the term 'Asset Information'. This information flow, if appropriately centralised and organised, can be used to achieve strategic corporate objectives.
An AM platform can become a valuable support to have a consistent information structure and an effective implementation of information records, which is essential to make the best use of resources and improve decision-making processes. Some advantages:
Up-to-date data
Traceability
Availability of indicators (KPIs)
Possibility of developing predictive models
What are the challenges in implementing an Asset Management platform?
The implementation of an AM platform, while offering numerous benefits, comes with a number of challenges that companies need to address. Here are some of the main ones:
Compatibility: as already mentioned, data are often dispersed across different systems, which makes it difficult to integrate them into a single structure;
Quality and standardisation of data: essential for making accurate decisions;
By overcoming these challenges, significant benefits can be gained from implementing an AM platform, such as increased operational efficiency, reduced costs and improved visibility over assets.
To address these challenges, it is crucial to choose the right technology and solution to meet the organisation's needs.
Find out more about our solution for innovating Asset Management (AM) processes dedicated to the utilities sector
AM's Terranova software solution:
Offers the functionality required to meet the needs of the company
Allows easy integration of data from different sources
Allows clear standards to be defined to ensure data quality
Is able to adapt to company growth and future needs (modular and scalable)
We’d be happy to talk more in detail about your needs and explore how we can become your ideal partner, to assist you in your business venture of innovation, digitization and sustainability
