Copperleaf was recently featured at European Utility Week, where Engerati’s Robert Marten interviewed Copperleaf’s Managing Director of Europe, Stefan Sadnicki, about the new role of asset management for utilities and what value means for each individual organization.
They discussed the multiple challenges utilities are facing today, including aging assets, an aging workforce, greater stakeholder requirements, the changing nature of networks, and the drive for change from internal sources. They also talked about how decision analytics can help utilities address these challenges and realize maximum value from their assets, while managing risk, service levels and demand on resources.
Q: What’s the new role of asset management for utilities?
“At Copperleaf, what we feel is really important is understanding what value means for each organization and how they build that into their decision-making processes,” said Sadnicki, adding “we see asset management bringing together an organization so that the whole organization understands the definition of value, understands which risks are most important . . . and what investments can add value.”
Q: What can utilities gain from enhancing their asset management capabilities?
“We see a very strong business case to improve asset management capabilities. On the one hand, there are certainly process efficiencies. Taking people out of Excel is a great performance efficiency opportunity. But in reality, the biggest value is in making better decisions. Making better decisions—either on specific investments or specific assets—or at a broader portfolio level, there’s a huge opportunity given the amount utilities are investing across the whole network.”
Q: What do you think asset management will look like in five years, that at the moment, is an idea or a theory?
“Asset management is about getting the right balance between data and subjectivity,” answered Sadnicki, who added that the efficiencies created by a data-driven approach will enable utilities to “reassign staff to higher value tasks.”
This interview was part of the November 2017 edition of Engerati’s Quarterly online magazine. For more information on effective asset investment management and the importance of quantifying your ROI, watch Copperleaf’s webinar on “How to Build a Better Business Case for Utility Asset Investment Planning“.
About the AuthorFollow on Linkedin More Content by Copperleaf Marketing