Developing a whole company culture of asset management through organisational structure, an asset management framework and a risk based approach for asset intervention

Abstract

Wessex Water Services Ltd, one of the 10 regional water and sewerage companies in England and Wales, has consistently delivered industry leading levels of service to customers and the environment. It relies not only on dedicated staff but notably on the billions of pounds worth of assets under its ownership to continue to provide such service.In 2006 Wessex Water embarked on a journey to develop and demonstrate excellence in Asset Management throughout every part of the business involved in managing assets. This paper describes the approach, the journey and the challenges faced by the company after it made a conscious decision to increase its asset management maturity.To help it on its journey the company used BSI PAS55 as a roadmap for increasing its asset management maturity and in 2008, when it first received certification, was the first water company to do so.

Industry 4.0 Contribution to Asset Management in the Electrical Industry

“…The main challenge of AM in the electrical industry is to balance expected performance, costs, and risks [20,21]. Figure 1 shows this relation.…”