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| Page | 3/5 | | Date | 26.04.2018 | | Size | 1.36 Mb. | | #46771 |
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As shown in Figure 3, asset management, as specified by ISO 55000, (1) is an iterative approach that arises from the organizational objectives, (2) is embodied in a strategic asset management plan, and (3) incorporates performance evaluation so that its ongoing contributions to the organizational objectives can be affirmed. The crux of this approach is analytics that, on the basis of all available data pertinent to the assets, compute health scores, rank the assets, and provide actionable intelligence. There is a range of such analytic solutions being deployed in utilities, ranging from those that focus on a particular asset class to comprehensive asset risk-management systems (ARMSs) that span multiple asset classes 
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