Asset Management Framework

We have developed a comprehensive asset management framework, aligned with PAS 55, to guide our decision-making.

 

A key part of this framework is a detailed set of documentation that explains our overall approach and provides information relevant to our stakeholders. These documents strengthen the linkages or ‘line of sight’ between our overall objectives and our day-to-day asset management activities.

Our Asset Management Policy, which underpins our Asset Management Framework, states that when managing our assets to ensure  we meet consumer long-term Grid performance expectations we will demonstrate our commitment by:

  • embedding a strong safety culture and capability to deliver a safe, zero harm work place
  • delivering excellent customer service by providing an enduring grid that delivers smart solutions, cost effectively
  • delivering the performance expected of the grid by consumers, taking into account the trade-off required between cost and risk
  • seeking continuous business improvement in our asset management activities
  • making asset management decisions based on complete, accurate and timely information
  • investing in the  right mix of talented, competent and motivated people to improve our asset management capability
  • building effective relationships with all New Zealanders affected by our asset-related activities
  • complying with all applicable statutory and regulatory requirements.

The policy is then applied to our activities and assets through a group of strategies, at three distinct levels:

  • an Asset Management Strategy that distils the asset management policy into drivers and high-level objectives
  • a set of five Lifecycle Strategies documents that reflect our lifecycle model and expand the high-level objectives, applying these to relevant processes and activities
  • Fleet Strategies that relate our objectives to our individual asset fleets, which also set out detailed asset information and an overview of planned investments.