All utilities companies work strategically with valuation of assets in relation to depreciations etc. However, it is far from everyone who use asset management on an operational level. Nevertheless, it makes good sense to incorporate asset management both financially and to ensure compliance with the agreed service goals.
Operational Asset Management is about being aware of your objectives for the entire utility company, while acknowledging that each asset is set in a unique context that affects the overall life span of your assets, probabilities and consequences of a shutdown, which is expressed by a so-called criticality.
For example, the criticality is very different in a plant that operates under very stable conditions and is part of a system where there is a back-up solution to an exposed plant where there will be serious environmental and economic consequences in case of a shutdown.
If we exclusively evaluate the life span based on the type of asset and the theoretical life span, we will sometimes replace an installation which, based on a total economic perspective, should
be retained and, in other situations, postpone the replacement of a plant which due to an unacceptable risk of shutdown or the like, should be replaced earlier.
To better consider the circumstances and make a more precise assessment of when it is economically optimal to replace a given asset, we take into consideration the criticality and hence the context in which the individual asset is set.
Operational asset management thus has an impact on all parts of an asset's life cycle from acquisition to operation and renewal.
In EnviPortalen we have a large amount of data that enables us to assess when it is most advantageous to establish, maintain, replace and dispose of the various assets. In addition, we can estimate operating and maintenance costs for the individual asset, and hereby document an investment plan with registration of investments and reinvestments on the assets in question.