Electricity Asset Management Plan 2019-2029
281
Vector Limited://
Vector Electricity 1 April 2019 –31 March 2029
Company Name AMP Planning Period Asset Management Standard Applied
SCHEDULE 13: REPORT ON ASSET MANAGEMENT MATURITY (cont)
QuestionNo.
Function
Question
Score
Evidence—Summary
UserGuidance
Why
Who
Record/documented Information
105
Audit
What has the organisation done to establish procedure(s) for the audit of its asset management system (process(es))?
2 Vectorhas an established audit procedure. External and internal audits, and reviews on asset management practices are carried out on a regularbasis. Field work carried out by contractors is sample audited. However, further improvements in the internal audit process and end-to-end capture of audit actions is underway. Proposed improvements include the development of Asset Management Systems and associated audit requirements; auditing of maintenance standards to ensure they are being followed effectively by the FSP's; closermonitoring of "as built" information to improve data accuracy and the implementation of new standards and supporting information management systemchanges. 3 Actions arising fromaudits, investigations, risks and legal compliance are captured in various registers. Formal corrective and preventative actions are recorded and completed as required with appropriate accountabilities and responsibilities assigned. Work is underway to improve the administration of corrective / preventative work through the consolidation of actions into one system. 2 Continuous improvement processes exist for the ongoing improvements to Vector's technical standards. Internal action registers are also in place to capture improvements, associated risks, audits and asset performance reviews, and lessons learnt. Optimisation improvements across risk, cost and performance will improve with improved data and SAP reporting, currently underway. In addition, furtherembedded risk thinking and assurance processes will drive continuous improvement in budgeting, strategic thinking and project optimisation. Improvements to enable more condition based data to support this are under development. eg. SAP PMproject and new maintenance standards. These improvements togetherwith the development of CBARMmodels for the major asset classes will further support the continual improvement and optimisation of the performance of assets across theirasset lifecycle.
This question seeks to explore what the organisation has done to comply with the standard practice AMaudit requirements (eg, the associated requirements of PAS 55 s 4.6.4 and its linkages to s 4.7).
The management team responsible for its asset management procedure(s). The teamwith overall responsibility for the management of the assets. Audit teams, togetherwith key staff responsible forasset management. Forexample, Asset Management Director, Engineering Director. People with responsibility for carrying out risk assessments
The organisation's asset-related audit procedure(s). The organisation's methodology(s) by which it determined the scope and frequency of the audits and the criteria by which it identified the appropriate audit personnel. Audit schedules, reports etc. Evidence of the procedure(s) by which the audit results are presented, togetherwith any subsequent communications. The risk assessment schedule or risk registers.
109
How does the organisation instigate appropriate corrective and/orpreventive actions to eliminate orprevent the causes of identified poorperformance and non conformance?
Having investigated asset related failures, incidents and non- conformances, and taken action to mitigate their consequences, an organisation is required to implement preventative and corrective actions to address root causes. Incident and failure investigations are only useful if appropriate actions are taken as a result to assess changes to a businesses risk profile and ensure that appropriate arrangements are in place should a recurrence of the incident happen. Widely used AM standards also require that necessary changes arising frompreventive or corrective action are made to the asset management system. Widely used AM standards have requirements to establish, implement and maintain process(es)/procedure(s) for identifying, assessing, prioritising and implementing actions to achieve continual improvement. Specifically there is a requirement to demonstrate continual improvement in optimisation of cost risk and performance/condition of assets across the life cycle. This question explores an organisation's capabilities in this area—looking for systematic improvement mechanisms rather that reviews and audit (which are separately examined).
The management team responsible for its asset management procedure(s). The teamwith overall responsibility for the management of the assets. Audit and incident investigation teams. Staff responsible for planning and managing corrective and preventive actions.
Analysis records, meeting notes and minutes, modification records. Asset management plan(s), investigation reports, audit reports, improvement programmes and projects. Recorded changes to asset management procedure(s) and process(es). Condition and performance reviews. Maintenance reviews
Corrective & Preventative action
113
Continual Improvement
How does the organisation achieve continual improvement in the optimal combination of costs, asset related risks and the performance and condition of assets and asset systems across the whole life cycle?
The top management of the organisation. The manager/team responsible formanaging the organisation's asset management system, including its continual improvement. Managers responsible for policy development and implementation.
Records showing systematic exploration of improvement. Evidence of new techniques being explored and implemented. Changes in procedure(s) and process(es) reflecting improved use of optimisation tools/techniques and available information. Evidence of working parties and research.
115
Continual Improvement
How does the organisation seek and acquire knowledge about new asset management related technology and practices, and evaluate theirpotential benefit to the organisation?
3 Vectorparticipates in a numberof national and international working groups to identify new asset management technologies and practices. A dedicated team is in place to review new technologies e.g. Lidar, grid batteries, solar, hot water load control and mPrest etc.
One important aspect of continual improvement is where an organisation looks beyond its existing boundaries and knowledge base to look at what 'new things are on the market'. These new things can include equipment, process(es), tools, etc. An organisation which does this (eg, by the PAS 55 s 4.6 standards) will be able to demonstrate that it continually seeks to expand its knowledge of all things affecting its asset management approach and capabilities. The organisation will be able to demonstrate that it identifies any such opportunities to improve, evaluates them for suitability to its own organisation and implements themas appropriate. This question explores an organisation's approach to this activity.
The top management of the organisation. The manager/team responsible formanaging the organisation's asset management system, including its continual improvement. People who monitor the various items that require monitoring for 'change'. People that implement changes to the organisation's policy, strategy, etc. People within an organisation with responsibility for investigating, evaluating, recommending and implementing new tools and techniques, etc.
Research and development projects and records, benchmarking and participation knowledge exchange professional forums. Evidence of correspondence relating to knowledge acquisition. Examples of change implementation and evaluation of new tools, and techniques linked to asset management strategy and objectives.
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