Electricity Asset Management Plan 2019-2029
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• AMS 02: Asset Investment Planning & Decision Making;
Documents how asset investment decisions around prioritisation and optimisation are made to compile the final asset management plans. Includes capital investment for new growth requirements as well as replacement for end of life existing assets. This standard also establishes the maintenance requirements for the assets, documents these as standards, and seeks to make optimal decisions with the objective of achieving the lowest overall asset lifecycle cost. The last element of this standard is how resourcing, procurement and shutdown planning strategies are derived to enabled effective delivery of the plans, in terms of required service providers, materials and spares, and with the smallest noticeable impact on our stakeholders and environment. AMS 03: Life Cycle Delivery; Documents how Asset Management Plans are translated into more detailed work plans, namely project scopes, programme scopes or routine maintenance plans. It covers the acquisition phase of the asset lifecycle including programme management, project management, commissioning and handover, plus the detailed plans that drive the delivery of required ongoing operations and maintenance activities throughout the asset life. This includes shutdown/outage planning, fault and incident response, contingency plans for critical assets and business continuity. Configuration management is included, being the management processes in place to ensure desired asset functions are retained, examples such as required capacity rating or required protection setting. Assurance of compliance with relevant legislation, standards and industry best practise also falls into this standard. The final element is the policy, procedures and plans around asset decommissioning, including the re-assessment of the impact of asset disposal if the situation has changed since this was considered at acquisition stage. AMS 04: Asset Insights; Documents how Asset Data Standards and Systems are defined and implemented in line with the Asset Insight Strategy in order to collect, store and utilise meaningful data to drive effective decisions around asset management activities. Undertaken effectively, data becomes information, leading to knowledge and ultimately wisdom - a deep understanding (the definition of insight) of the assets. This standard also documents how the Asset Data Standards are compiled to specify the required structure, format, location and desired quality for storing data, as well the associated management processes in place around data collection, management, governance, assurance and audit. AMS 05: Organisation and People; Documents how outsourced activities such as equipment suppliers, service providers and other contracted services are aligned to the objectives of the organisation and the ongoing monitoring that is required to be in place to provide assurance this is the case. Asset Management leadership is also covered, how the leadership team of the organisation is aligned to promote a whole life asset management approach that delivers on the clearly stated objectives of the organisation, with corresponding documented accountabilities. Other enablers to this are also documented such as how the organisation structure, roles and responsibilities are set, plus how it is ensured that a supply of competent and motivated people is available now and into the future to meet and continue to fulfil the set objectives. The final document in the set, and arguably the most important in completing the line of sight through to the stakeholders, documents how continuous evaluation of asset performance takes place to identify any discrepancies with the desired objectives. This is undertaken utilising data and analytical abilities in terms of cost, risk and performance against key indicators and metrics aligned to the objectives, these in turn being set as an output of reliability and resilience planning where the expected performance of an asset is set within a defined normal operating environment. For scenarios where the environment deviates from the normal stated operating environment, such as a major weather event, this standard documents how the need for resilience/contingency plans is identified and how they are derived. Aside from just the assets, this standard also documents how the performance of the Asset Management System itself is measured, and how this feeds into a continuous improvement process. The processes in place to manage risk within the Asset Management System are documented and align to the organisational risk management system. The final element is how management / stakeholder review and audit is undertaken.
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• AMS 06: Evaluation (of Cost, Risk and Performance), Review and Improvement.
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