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 desire are 100% reliability and zero tolerance for safety incidents for employees and members of the public. These constraints have led to an entirely new profession of utility asset manager – one who understands utility operations, the people who do the work, codes, and standards, and a commitment to our 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 Operations Conference. Together in Boise, we will continue this discussion of world-class best practices and roundtable discussions.
Meet the Asset Management Program Development Team.
10:00 AM – 11:30 AM
Roadmap for AI-Enabled Asset Management Decision-Making
Want Artificial Intelligence but don’t know how to get there? Throughout this session, we will present a roadmap to address important components to standing up an AI-driven asset management program.
3:30 PM – 5:00 PM
Risk-Based Asset Management
Speaker: Stephen Seewald, Manager, Asset Performance and Risk Management, EPCOR Distribution and Transmission Inc.
What does asset risk management mean to you? Join this discussion to understand best practices, defining and applying a risk methodology framework to decision-making and achieving benefit realization. The conversation will include:
• Types of risk / Drivers of risk – internal vs. external, configuration vs. asset
• Customer perspective – economic value of reliable power
• Quantification – ways of measuring
Alternatives to Risk-Based Approach
• Deferral/run to failure (panelist may have other suggestions as well)
• Trade-offs of intervention now vs. later
• Comparison of investment strategies
Applying a Risk-Based Approach
• Building business cases
• Portfolio management
• Change management / culture shift
• Benefits measurement
• Forecast vs. actual
10:00 AM – 11:30 AM
Battle of the X’s
Who will be the winner? In this session, we will discuss balancing and optimizing capital and operating expenditures in risk-based asset management.
1:00 PM – 2:30 PM
Utilizing Innovation and Technology to Manage Infrastructure
Are you innovating to make real-time decisions? We will get you the legacy stone age to the digital age. We will discuss how to justify technology to regulators and share case studies of success and failed deployments.