Within the context of market conditions and regulations, the goal is to be able to execute the best strategies for designing, installing, operating, and maintaining assets.

The risks associated with operating aging assets or pushing assets beyond capacity are well known. What’s new is the increase in intermittent renewable, gas-fired generation, distributed energy resources on the grid, and renewable energy, both of which change normal patterns of wear and tear on utility assets.

Utility operators now not only need to be alerted to potential asset failure, but be able to predict a potential failure, while performing root cause analysis, and deciding how to approach resolution. Depending on the strategic importance of the asset to the production or delivery process and the demand for the product, whether (electricity, natural gas, or water), the decision could be made to run to failure, repair immediately, replace during the next maintenance cycle, or any number of alternatives.