Asset Management Consultancy

Situation

Companies such as transmission and distribution utilities that are responsible for a significant number of complex deteriorating physical assets have particular challenges in determining the most effective approach for managing them. The difficulties are compounded by the need to justify future capital and operational spend against the expected customer service, network security and environmental impact to regulators and other stakeholders.

Solutions

Optadian has a wide experience of physical asset management organisations and has helped them to manage their assets more effectively. It combines a strategic view with a technical understanding of the assets and the operations that need to be performed on them during their lifecycle. It helps to develop overall asset management frameworks and approaches that are aligned with PAS55 and translates these into sets of implementation actions, designs and working solutions. It works with organisations to develop their thinking on asset health indexes and how these should be structured and develops processes and tools for asset investment prioritisation.

Example Credentials

Optadian has worked with a range of clients to support and develop their asset management capabilities.

European National Transmission and Distribution Gas Utility

Optadian worked for the head of asset strategy providing training on asset health indexes and investment prioritisation, reviewing best practice thinking and developing their initial positions on each of these.

The initial work was to provide structure to their thinking over investment project prioritisation, particularly over how to ensure completeness in capturing all costs and how to consider all risks and consequences on the assets. Optadian developed a hierarchical framework for considering the costs, asset condition, risks and consequences and how this could be translated into financial terms.  Optadian developed this into a proof of concept tool to illustrate each of the areas involved.

Optadian then developed a detailed business process for how they should perform asset activity and project prioritisation and optimisation. The process included project definition, scoring criteria definition and tuning, project prioritisation, constraint definition and project optimisation. Detailed activities were developed for each step of the process.

Based on the project prioritisation and optimisation process Optadian developed a detailed specification of the scope of the toolset required to deliver the functionality. The scope covered not only the functionality required to deliver the process but also the functionality required to manage the data and ensure that it remains aligned with data in other systems.

Optadian then worked with the client to consider their requirements over asset health indexes and how these fitted into the regulatory structure. It then worked with the client to develop a structured outline view of the components of the health index and how it fitted in with asset activities and risks.