Current State of the Assets

Defining the Current State of the Assets is the foundational component of which operations, planning, and upgrades for a system are built. When staff understand what assets the system owns and/or manages, and the status of those assets, they are able to make more informed decisions which can lead to less reactive and more preventative maintenance. 

While gathering information on assets is relatively straightforward, it can seem overwhelming since systems typically have many assets. Utility staff can work together to create a plan to begin and complete this component. Understanding the Current State of the Assets will provide information that will allow improvements in operations and management of the system.    

To understand the Current State of the Assets, systems must collect data about the assets. The system will also need to store that data such that a system inventory is developed and accessible. The inventory will need to be updated and accurate. Because this component is foundational, the inventory must contain enough information to support operational analysis and data-informed decision-making. If the foundation is not well built, the structure is likely to fail. Thus, thinking through the process of capturing data on each asset is worthwhile.