Data integrity in the power and utilities industry
What’s the bottom line?
There is a clear need for utilities to get their records management in order, as current events are contributing to changes in the regulatory landscape. Companies that lack accurate historical records about the maintenance of their physical assets cannot know if those assets have been maintained properly.
What if an accident happens?
In the event of an incident, they will face potential liability unless they can prove that pipelines were regularly inspected and cared for. The best approaches will consider the integrity of historical data along with governance and control over current processes.
To be sure that you are taking the necessary steps, board members should ask two questions:
- Do we understand the level of data quality in our operational records?
- Do we have a large number of records in paper format?
Once companies understand the scope of these two issues, they can take the appropriate actions to improve the governance, processes and technology used in records management.
Answers to your questions, at a glance
Find the gaps in your infrastructure records
Ask yourself two fundamental questions to uncover the errors and omissions in your historic data that could put you at risk for penalties, fines and liabilities.
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- Dana Hanson
Americas Advisory Power &
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- Gary Paul
Principal Performance Improvement
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- Ted Pelecky
Senior Manager Advisory Services
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