Maximizing asset performance in a digital and more sustainable world
Achieving excellence in asset management is critical to optimize return on investment in power and utility (P&U) organizations. This report explores the role of asset management in a transforming sector, highlighting three routes to unlock strategic value.
This is just the beginning of the journey to better value. Taking the initiative now to adopt an intelligent approach to asset management, refine capabilities and leverage new technologies will create value and set P&U organizations up to thrive as the sector transforms.
Download the full report as a PDF
“ New and existing infrastructure projects can transform value by embedding asset management throughout the organization, using data better and adopting new technology faster, learning from parallel industries.”
Igor Sadimenko, Asia-Pacific EAM Regional Lead, EY
Big picture changes
Aging infrastructure, the growing cost of power generation and the need to respond to disruptive technologies are all intensifying the pressure on utilities to invest in maintaining, growing and modernizing their service delivery assets. All the while, the transforming sector is turning the established and formerly stable value chain on its head.
The asset management capability needed to achieve the necessary optimization of cost, risk and performance is far greater than we have seen before. To maximize this investment, utilities need to intimately understand and manage the whole life cost, risk and value of assets.
Research by EY reveals this to be a topic of key concern for P&U businesses.
The heart of the matter: unlocking value
As the sector transforms, optimizing the commercial and strategic value of utility assets is a tough balancing act. Asset owners and operators need to deliver greater stakeholder value — in particular to customers — while reducing risk and minimizing costs.
Seizing new opportunities
In today’s transforming sector, utilities are increasingly challenged to make decisions based on intelligent asset management which fully grasps the relationship between asset cost, risk and performance and the entire organization and supply chain.
Building blocks of excellence
The goal is asset excellence, but where’s the starting line? EY has identified three leading practices that could help to create new value and transform asset management performance, now and in the future.
Where to start?
There are big opportunities to realize the full potential of asset management to improve operations, reduce costs, better manage risk and meet overall corporate goals in today’s data-driven, technologically enabled, connected world. But first, “asset excellence” needs to be strategically prioritized with more effective decision-making capability underpinned by better analytics to plan, forecast and optimize performance.