Infrastructural Asset Management and Maintenance of System Health in Power Sector Utilities: An Overview

Asset Management is a systematic way to manage assets and it is important for a firm, company or an industry to monitor and manage them effectively. Power sector utilities involved in generation, transmission and distribution affairs possess huge assets spread across the country and the need to manage them efficiently for achieving better productivity in an economical way to gain better returns on investment. Tracking of assets is a relevant activity for proper identification of the company’s assets and the risk management that arise by utilization of certain assets. It also paves way for inventory control and maintenance at reduced costs and carryout life cycle analysis. The need of the hour for the power sector asset management is to optimize operation and maintenance of assets through effective monitoring through information technology and digital engineering interface.