Strategic asset management – a global power company’s view of why it’s good for business

Date: 2011-11-14
Location: United States
Presenter: Mark Mueller, Director of Asset Management, AES Corporation
Conference: AM2011 North America


This presentation explores how business goals for physical assets are optimally delivered through Strategic Asset Management, which goes beyond maintenance to align and optimize outcomes using risk-based thinking. In addition to an overview of Asset Management Industry standards, the UK's PAS 55 and the draft ISO 55000, you'll learn how AES Corporation applies PAS 55 as a basis for their Asset Management Framework. Rolling out the Framework to our global businesses provides financial and non-financial benefits and some interesting challenges. The key to delivering these benefits through the Framework is the change in behaviors and the linking of people across functions. Understanding that Asset Management results are about a cultural transformation, not just documents, we have cascaded the business objectives down to operators and maintainers, targeting equipment reliability. Using Strategic Asset Management principles in day-to-day activities assists us to drive operational excellence.

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