ABSTRACT
A good asset management strategy involves the management of costs, risks, and performance to optimize return on investment in assets across the whole asset life cycle. Asset management may be seen as "centralized" in that it must be driven by the strategic goals of the organization—achieving those aims will require coordinated activities across the organization. In a smart grid world, asset management is a means to ensure optimal asset performance within the business context, with line of sight from the asset to the boardroom, and with efficient and optimized data flows for decision support. The smart grid helps drive asset management programs in terms of more advanced and lower cost technologies, and the synergies of integrated applications that can share the data, but there must be "line of sight" back to the aims of the organization and the business environment in which it operates.
