Asset Management

The US federal government defines asset management as “the practice of managing infrastructure capital assets to minimize the total cost of owning and operating these assets while delivering the desired service levels.”

For most organizations, asset management is simply driven by a cost-benefit analysis. But for gas and electric utilities, the service levels we strive for are 100% reliability and zero tolerance for safety incidents involving employees, contractors, or members of the public. These constraints have led to an entirely new profession of Utility Asset Manager – they understand utility operations, the people who do the work, codes and standards, and a commitment to customers.

The WEI Operations Conference Asset Management Track has led this new profession for nearly a decade, bringing together key influencers and employees who do the work for yearlong conversations leading up to the annual WEI Operations Conference. Join this track in 2021 to learn about Asset Management strategies, decision making and new definitions of risk, as we will discussions of world-class best practices through presentations and roundtable discussions.

This track is sponsored by:

Meet the Asset Management Program Development Team. Learn more about the Operations Conference.

All session times are listed in Pacific time.

March 23, 2022

11:00 AM – 12:15 PM
Asset Management by the People (and for the People)
Hear about the journey of asset management in two different companies from a people-focused perspective. Learn who and what triggered the creation of the asset management department, how teams were selected and integrated as part of the company and how asset programs continue to stay relevant as the department has matured.

Wednesday, April 20, 2022

3:00 PM – 4:15 PM
Journey from Data to Technology Solutions Show + Tell
Overhead distribution infrastructure is constantly exposed to the elements, and as such, must be appropriately monitored and managed in order to sufficiently manage reliability of services to customers. This presentation will highlight EPCOR’s journey into enhancing and optimizing their underlying data associated with their overhead conductor population. These results will be incorporated as part of a broader Risk-Based Asset Management System, where the condition-based probability and impacts of failure can be determined in order to quantify risks within the overhead system and provide decision-making insights to utilities on how to prioritize overhead infrastructure for replacement or repairs.

Thursday, April 21, 2022

11:15 AM – 12:30 PM
Evolve Asset Resiliency for a Cleaner Future
Integrating asset management practices into evolving natural gas distribution to accept a sustainable future involves many facets of an organization. To meet this future demand, organizations must look for current opportunities to leverage facilities installations and replacements to meet both the current and anticipated future requirements. This session will explore ongoing efforts for a natural gas LDC to incorporate hydrogen blending and renewable natural gas for an existing gas distribution network. This presentation will also review mutually beneficial partnerships with researchers and suppliers to foster a sustainable future alongside some specific projects currently in process. Finally, the session will include a discussion about operational challenges faced by an organization when addressing these opportunities.  

1:45 PM – 3:00 PM
The Risk-Informed Utility
Utilities are capital-intensive organizations that operate under complex business conditions and are influenced by various risks including operational safety, climate change, aging assets, regulatory change and evolving technology. This session will take the audience from the “Why” to the “How” of Enterprise Risk Management (ERM).  Armed with the latest utility survey results the presenters will describe: Why ERM has become so important, Provide an update on the state of the industry, Highlight the relevant standards, and Explore best practices as well as techniques for quantitative risk assessment at an asset level. Only a risk-informed utility can truly manage its risks.