ABSTRACT
Asset management is a way of making spending decisions throughout an organization that aligns all asset-level spending with high-level business objectives. Generally, this means that spending decisions are made with the explicit objective of maximizing business performance while proactively managing risks, budgets, resources, and key performance indicators (KPIs). By its very nature, asset management applies to all aspects of a business. For a vertically integrated electric utility, true asset management must span generation, transmission, substations, distribution, and all company-owned retail and wholesale customer systems. Therefore, one cannot talk about “substation asset management” per se. Instead, one must talk about how substations are affected by and fit into an overall asset management utility organization. However, there are several concepts of asset management that can be applied specifically to substations and groups of substations. For the people who operate, design, engineer, plan, or manage 19-2substations, asset management means a shift from past perspectives and practices about the role of the substation, how budgets are allocated to substations, and what is expected from both the substations and the people who manage and operate them.
