Asset Management is a term that has been tossed around quite a bit lately. For over a year now, no matter where I look – conference abstracts, trade press editorials (like this one!), feature articles, or newsletters – it seems like everyone is talking about it. However, as I would eventually learn, talking about A/M is one thing; doing something about it is different story…
So, about 18 months ago, I set out to see what the buzz was all about by doing a little informal research among people I felt certain would be able to educate me about why A/M has suddenly become such a big deal in the utility business and how it might impact the utility automation field. What I found was that everyone I talked to had at least a slightly (if not drastically) different view on the increasingly ubiquitous use of the term: Asset Management.
One of the first things I learned was that A/M enjoys a very well established presence in the
central plant environment (e.g., power generation plants). Upon further investigation, I found that the body of A/M knowledge in this centralized plant context was equally grounded among gas and water/wastewater utilities. However, when I asked what A/M meant in the distributed assets context, that’s where it got a whole lot more interesting.
It seems that no one is too sure about what asset management means in the distributed asset environment. Well, maybe a better way to say it is that everyone has a different idea about what A/M is in that context and how it relates to a particular area of interest, a current application focus or, in some cases, the project-of-the-week. By contrast, what almost everyone does seem to agree on is that A/M is going to be huge and that it will be a part of virtually everything they do – someday.
From all indications so far, A/M (again, in the distributed environment) is widely viewed as a huge market opportunity that no one can seem to define very precisely; a great market research
challenge, indeed. However, as is often the case, buzzwords and acronyms abound as people
struggle to add context and substance to the elusive definition of A/M. Some areas where the people I’ve talked to say asset management has a future include:
• CMMS- Computerized Maintenance Management Systems
• CBM- Condition-based Monitoring (aka Condition-based Maintenance)
• CBI- Condition-based Inspection
• RCM- Reliability-centered Maintenance
• Compliance Management (e.g., regulatory, contractual, etc.)
Interestingly, which areas occupy the top slots really varies, depending on whom I ask. Most T&D people are getting tuned in to CBM and RCM right now, but in other market areas
(e.g., the gas and water/wastewater sector), more often than not CMMS seems to be at the top of their list.
Then, there is the question of hardware/software platforms. Some folks contend that there is no need to create yet another data repository dedicated to storing and manipulating asset management information. Ask a CIS (customer information system) person, and s/he will tell you that CIS is the rightful place for it; ask a GIS (geospatial information system) jock and you’ll get a predictably different answer. Ditto for SCADA practitioners, etc., etc.
If you were hoping for a clear definition, I won’t attempt to provide that just yet as we’ve only recently begun the formal research process. Eventually, we will put a fine point on that issue while also addressing the interrelationships between asset management and the world of utility automation. So far the indications are that the definition will be very broad and comprehensive; probably not a neat little sentence, but perhaps a paragraph or two. In the meantime, it may be easier to say what asset management is NOT rather than what it is.
Stay tuned…
PS Any input you might like to offer on this subject is welcome. Please send your emails to me at the address shown below. - Mike
_____________________________________
About the Author
Mike Marullo has been active in the automation, controls and instrumentation field for more than 35 years and is a widely published author of numerous technical articles, industry directories and market research reports. An independent consultant since 1984, he is co-founder and Director of Research & Consulting for InfoNetrix LLC, a New Orleans-based market intelligence firm focused on Utility Automation and IT markets. Inquiries or comments about this column may be directed to Mike at MAM@InfoNetrix.com.
©2005 Jaguar Media, Inc. & Michael A. Marullo. All rights reserved.
So, about 18 months ago, I set out to see what the buzz was all about by doing a little informal research among people I felt certain would be able to educate me about why A/M has suddenly become such a big deal in the utility business and how it might impact the utility automation field. What I found was that everyone I talked to had at least a slightly (if not drastically) different view on the increasingly ubiquitous use of the term: Asset Management.
One of the first things I learned was that A/M enjoys a very well established presence in the
central plant environment (e.g., power generation plants). Upon further investigation, I found that the body of A/M knowledge in this centralized plant context was equally grounded among gas and water/wastewater utilities. However, when I asked what A/M meant in the distributed assets context, that’s where it got a whole lot more interesting.
It seems that no one is too sure about what asset management means in the distributed asset environment. Well, maybe a better way to say it is that everyone has a different idea about what A/M is in that context and how it relates to a particular area of interest, a current application focus or, in some cases, the project-of-the-week. By contrast, what almost everyone does seem to agree on is that A/M is going to be huge and that it will be a part of virtually everything they do – someday.
From all indications so far, A/M (again, in the distributed environment) is widely viewed as a huge market opportunity that no one can seem to define very precisely; a great market research
challenge, indeed. However, as is often the case, buzzwords and acronyms abound as people
struggle to add context and substance to the elusive definition of A/M. Some areas where the people I’ve talked to say asset management has a future include:
• CMMS- Computerized Maintenance Management Systems
• CBM- Condition-based Monitoring (aka Condition-based Maintenance)
• CBI- Condition-based Inspection
• RCM- Reliability-centered Maintenance
• Compliance Management (e.g., regulatory, contractual, etc.)
Interestingly, which areas occupy the top slots really varies, depending on whom I ask. Most T&D people are getting tuned in to CBM and RCM right now, but in other market areas
(e.g., the gas and water/wastewater sector), more often than not CMMS seems to be at the top of their list.
Then, there is the question of hardware/software platforms. Some folks contend that there is no need to create yet another data repository dedicated to storing and manipulating asset management information. Ask a CIS (customer information system) person, and s/he will tell you that CIS is the rightful place for it; ask a GIS (geospatial information system) jock and you’ll get a predictably different answer. Ditto for SCADA practitioners, etc., etc.
If you were hoping for a clear definition, I won’t attempt to provide that just yet as we’ve only recently begun the formal research process. Eventually, we will put a fine point on that issue while also addressing the interrelationships between asset management and the world of utility automation. So far the indications are that the definition will be very broad and comprehensive; probably not a neat little sentence, but perhaps a paragraph or two. In the meantime, it may be easier to say what asset management is NOT rather than what it is.
Stay tuned…
PS Any input you might like to offer on this subject is welcome. Please send your emails to me at the address shown below. - Mike
_____________________________________
About the Author
Mike Marullo has been active in the automation, controls and instrumentation field for more than 35 years and is a widely published author of numerous technical articles, industry directories and market research reports. An independent consultant since 1984, he is co-founder and Director of Research & Consulting for InfoNetrix LLC, a New Orleans-based market intelligence firm focused on Utility Automation and IT markets. Inquiries or comments about this column may be directed to Mike at MAM@InfoNetrix.com.
©2005 Jaguar Media, Inc. & Michael A. Marullo. All rights reserved.
