Pioneering Open-Source Asset Management
Our Lifetime & Risk Models module is built on the solid foundation of the Common Network Asset Indices Methodology (CNAIM), originally hailing from the UK. CNAIM is more than a methodology; it’s a revolution in asset management that thrives on minimizing risk. It takes into account the actual condition of assets, considering factors like age, loading, measurements, corrosion, and oil chemistry observations and thus Reinvestments module can with advantage be combined with our Maintenance & Planning module.
CNAIM incorporates a standardized set of condition questions that encompass everything from metal fatigue to rust and signs of leakage. This wealth of information is meticulously combined to build an accurate estimate of the probability of asset failure. By understanding these risks, you’re better equipped to make informed decisions and ensure the reliability of your utility assets.
The Power of Reinvestment
Our module does not stop at risk assessment; it actively calculates critical indices like SAIDI (System Average Interruption Duration Index) and SAIFI (System Average Interruption Frequency Index). It does this every night, using the latest topology information. With this module, you have the power to minimize risk, reduce intervention costs, or maximize the quality-of-service metrics, such as SAIDI and SAIFI.
ISO 55000 Compliance
We are proud to say that our Reinvestments module aligns entirely with ISO 55000 standards. ISO 55000 sets the stage for a comprehensive asset management system within your organization. The benefits of adhering to these standards are vast and include:
Value Creation: Assets are seen as value creators for your organization and its stakeholders. It is not just about the assets themselves, but the value they can bring to the table. Asset Management is focused on this value, determined by your organization’s goals.
Adoption: Asset Management translates your organization’s goals into concrete technical and financial decisions, plans, and activities. These decisions lead to goal achievement, making your organization more effective.
Goal Achievement: Asset Management provides assurance that your assets will meet the required targets, helping your organization operate effectively.
Leadership: Leadership and organizational structures are vital for value creation. ISO 55000 and ISO 55001 underscore the importance of leadership in Asset Management.
The low-cost approach to risk management
What sets our Reinvestments module apart is its transparency and reliance on the open-source CNAIM package. By visiting www.CNAIM.io, utilities and regulators can delve into a risk-based approach to asset management without the need for expensive, custom-built solutions. Our built-in fault analysis tools allow you to customize lifetime parameters and input variables according to your unique needs, ensuring that the CNAIM standard evolves seamlessly with your ever-changing power system.
Join Utiligize and embrace the future of open-source asset management with our Reinvestments module. Revolutionize your risk assessment, decision-making, and asset reliability today.
Learn more or request a demo?Contact us