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How can you effectively track and manage your utilities assets with the right tools?

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Managing utilities assets is a complex task, but with the right tools, it can be streamlined for efficiency and accuracy. Whether you're overseeing electricity, water, gas, or other services, keeping track of the infrastructure and equipment that deliver these utilities is crucial. You need to ensure that maintenance is timely, costs are controlled, and disruptions are minimized. This involves coordinating with multiple teams, staying on top of asset conditions, and making data-driven decisions. So how do you keep everything in check? By leveraging technology and implementing robust asset management systems, you can gain a clear picture of your utilities assets and manage them effectively.

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1 Asset Inventory

Creating a comprehensive inventory of your utilities assets is the first step towards effective management. This inventory should include details such as the type of asset, location, manufacturer, model, and service history. You'll gain insights into the lifespan of your assets, which ones require maintenance, and when to plan for replacements. This database acts as a foundational tool that informs all other asset management activities. Keeping it updated in real-time ensures that you always have accurate information at your fingertips.

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Medhat A.

Expert in Electricity Distribution Systems. My Passion is the Asset Management and Risk Assessment.
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From my point of view, the first point for successful asset management and building a reliable asset database is the technical specification of the asset. The technical specification must obviously reflect the real needs of the utility, O&M practices of the utility, resources capabilities and development plans, full simulation of site conditions, safety rules,selection/ recommendation of asset's bill of materials, type testing built on actual site conditions and operation practices.

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2 Monitoring Systems

Utilizing advanced monitoring systems is key to staying updated on the condition and performance of your utilities assets. These systems can provide real-time data on energy consumption, output levels, and potential fault indicators. By having this information, you can preemptively address issues before they escalate into costly repairs or service interruptions. Additionally, monitoring systems can help in optimizing the performance of your assets, ensuring they operate within their intended parameters for maximum efficiency.

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Medhat A.

Expert in Electricity Distribution Systems. My Passion is the Asset Management and Risk Assessment.
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Using the most effective and reliable condition monitoring tools like PD sensors either permanently installed or handheld with periodic inspection or prior to any operation. Using of hotspot sensors for switchgear to monitor the internal joints and connection points. using thermography analysis or accessible live parts. Using gas leakage detectors, humidity sensors, DGA a analysis, etc.

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3 Maintenance Schedules

Regular maintenance is essential for prolonging the life of utilities assets and ensuring they operate efficiently. By using asset tracking tools, you can automate maintenance schedules based on usage patterns or time intervals. This proactive approach helps prevent breakdowns and minimizes downtime. It also allows for better budgeting and resource allocation as maintenance needs are predictable and can be planned for in advance.

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Medhat A.

Expert in Electricity Distribution Systems. My Passion is the Asset Management and Risk Assessment.
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I believe that nowadays, CBM took the place of TBM, however, TBI ''Time base inspection'' & regular condition monitoring are leading an effective factor for successful CBM and eliminating of TBM needs. One important point is discussing the O&M practices with the manufacturer to reach to a practical point and program suit utility practice and resources and suit the subject assets, this process is far effective to schedule the necessary maintenance for each asset under cost effective performance and optimization of the resources and giving the assets what they need when it is required.

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4 Cost Analysis

Understanding the cost implications associated with utilities assets is crucial for effective financial management. Asset tracking tools can help you analyze operational costs, such as energy consumption and maintenance expenses. This data enables you to identify areas where cost savings can be made, be it through more efficient asset use, renegotiating contracts with suppliers, or investing in newer, more efficient technology.

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5 Compliance Tracking

Ensuring that your utilities assets comply with industry regulations is non-negotiable. Compliance tracking tools can help manage this aspect by keeping records of inspections, safety checks, and regulatory submissions. These tools can also alert you when certifications are due for renewal or when assets need to be inspected. This not only helps avoid penalties but also ensures that the utilities services provided are safe and reliable.

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6 Data Integration

Finally, integrating data from various sources into a centralized asset management system provides a holistic view of your utilities assets. This integration allows for better decision-making as it combines operational data with financial and compliance information. With all relevant data in one place, you can easily generate reports, conduct analyses, and share insights with stakeholders to inform strategic decisions and improve overall asset management.

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Medhat A.

Expert in Electricity Distribution Systems. My Passion is the Asset Management and Risk Assessment.
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From my experience, inserting data collection and updating continuous process with creating an online platform for operation recording for both normal and abnormal operation are the concrete foundation to build an asset index. The index must be comprehensive and starting from the referred standards & specification of that asset to the last event with detailed attachment of manufacturer recommendation, bill of materials then the used materials or spare parts during the service life.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Medhat A.

Expert in Electricity Distribution Systems. My Passion is the Asset Management and Risk Assessment.
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As a conclusion: Do your best to find and build a communication language with the assets, it will make you alerted to receive his messages on the proper time.

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How can you effectively track and manage your utilities assets with the right tools?

1

2

3

4

5

6

7

1 Asset Inventory

2 Monitoring Systems

3 Maintenance Schedules

4 Cost Analysis

5 Compliance Tracking

6 Data Integration

7 Here’s what else to consider

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How can you effectively track and manage your utilities assets with the right tools?

1

2

3

4

5

6

7

1 Asset Inventory

2 Monitoring Systems

3 Maintenance Schedules

4 Cost Analysis

5 Compliance Tracking

6 Data Integration

7 Here’s what else to consider

Business Operations

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