The natural gas industry is on track to invest between three and five billion dollars annually on system expansion and replacement of aging an deteriorating infrastructure. However, there is little reason to believe that the 20-year trend of significant events (i.e.; gas explosions and fatalities) will change.
Matrix organizations gained popularity in the late 70s and early 80s as many companies began to expand globally. A need to maintain both local market responsiveness and global product/service consistency found many managers playing dual roles. Parallel reporting relationships reflected the diverse and often conflicting needs of functional, product and geographic organizational groups.
“SmartGrid” and Advanced Metering technologies are being touted at the highest levels of American politics today. There is an air of inevitability pervading the utility industry, where 21st century technology promises to transform 20th century infrastructure, making it cheaper, cleaner, safer, smarter and more reliable.
For most gas, water, and electric utilities, difficult investment planning decisions are made each budgeting cycle. Following asset management best practices, company strategies and objectives should be aligned to the investment decision-making process and a rigorous process for investment analysis and optimization of the proposed portfolio of investments should take place.
This white paper discusses the experience of implementing a risk management process within an Asset Management organization. It discusses three important subjects that need to be considered while implementing risk management – the different perspectives between day-to-day operations and risk-based asset planning, asset risk versus business risk, and the n-to-n relationship between issues and risks.
This paper is a follow up to the 3rd Annual Smart Grids Summit held in Stockholm in January 2012. The Summit brought together Europe’s leading electricity grid distribution specialists, investors and regulators to share insights on the Smart Grid.
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