UMS Group is an international Management Consulting firm specializing in enterprise-level value creation and performance management solutions. We combine experienced consultants and seasoned industry professionals with world class tools and intellectual capital to assist our clients in diagnosing problems, designing solutions, and implementing change.
April 12, 2011
Electric Transmission Asset Management Best Practices Defined
Amsterdam, NL, April 12 – Recently, a group of leading transmission companies came together for a three day working and sharing session to explore how industry best asset managers are managing data, technology, process and practices to maximize the added value of the Asset Management process.
ITAMS is facilitated by UMS Group and has an Advisory Board comprised of executives from leading transmission system operators. The Consortium members are seeking to make a dramatic leap forward in reducing cost and improving service level performance. ITAMS is designed to help them do so, by providing participants with an understanding of how low cost, superior performance can be achieved through innovative practices and strategies, use of new technology and automation, state-of-the-art management approaches and organizational designs, and well-planned process structures and enablers.
The three day conference included a discussion of the results of the benchmarking and practices study and a number of workshops. The first focused on portfolio management, scenario planning, optimization, and prioritization. Subsequent workshops discussed the interface with the Service Provider, performance management and PAS 55, and the value of having a separate Asset Owner role.
A number of key findings from the Study were revealed at the Results Conference. For instance, investing in employee education was found to drive improved performance as was having Key Performance Indicators which measure process performance and output. In addition, best performers were found to have separated the role of Risk & Portfolio management from Asset System Strategy and also to have strong skills in decision making and managing asset owner and stakeholder expectations.
“In order to succeed, utilities will need to understand and manage the trade-offs among risk, cost and performance to optimize the financial and commercial performance of an infrastructure asset base,” said Jack Shearman, CEO of UMS Group. “However, once they have done so, they must have actionable performance and practices guidance to be able to implement the process, technology, and organizational transformations needed to achieve Best Performer status."
About
UMS Group
UMS Group is a
leading global consultancy and thought leader in
utility asset management, performance assessment,
performance improvement, and the management of
sustainable change. UMS Group's proprietary databases,
analytical tools and methodologies have been utilized by
over 300 gas, water and electric utilities on six
continents to build world-class operations. UMS Group is 1 of only 3 North American PAS 55 Assessors Endorsed by the Institute of Asset Management (IAM), which enables UMS to certify compliance with PAS 55. For more
information: http://www.umsgroup.com.