Changing Energy

The energy sector is undergoing rapid change. For those working in the sector, keeping up to date with knowledge in order to help the business build value from effective asset management.

With renewable energy options becoming more the norm, and the brown coal-fired plants of old being disused and repurposed, it is timely to re-establish standards and protocols in systems, operation, and management. Bring in new frameworks to ensure system security and efficient capacity, and coordinate new forecasting to anticipate restraints in service and enhanced intelligence surrounding decision-making tools.

All this can be done through an asset management plan that begins with corporate objectives, integrating with existing documents, and using communication from the leadership of the business, down to staff at all levels. The asset management plan ought to include information systems that include data storage and manipulation, operational and decision support, risk management plans, and reporting tools. Regular audits and assessment processes will underpin the effectiveness of the asset management strategy, and ensure the business is on the right track to build value.

If you’re working in the energy sector, make sure you become a part of our Power in Asset Management Special Interest Group. You will be part of a group that shares best-practice methods, knowledge, challenges, and opportunities in a collaborative space. Find out more about our Power SIG here.