Asset Management Plans for Large Scale PV Power Plants in Australia

This paper discusses the gap in strategic asset management framework for large scale photovoltaic power plants in Australia and provides a proposal for a properly structured framework. It also explores the current policies and asset management plans for large scale PV power plants in Australia and suggests a best practice assessment management plan based on case studies and comparative analysis.

benchmarking of asset
management plans for large solar
PV Power plants in australia

Abstract
The strict environmental regulation besides the higher demands for energy owing to the ever
rapidly increasing human population in Australia and the world at large have turned out to be the
key concerns for the energy industries. In order to ensure remaining compliant with the
environmental regulations as well as enhancing the energy supply of the large scale photovoltaic
power plants are rapidly developing and taking their place as an alternative source if energy to
the fossil fuels. The management of the large scale photovoltaic solar power plants has remained
to be a thorn in the flesh and this is mainly attributed to the absence of strategic asset
management framework that is less structured. This paper in response discusses at length the gap
and at the end provides a proposal on a properly structured strategic asset management frame
that can be used for large scale photovoltaic power plants. This study has also hinted that owing
to the lack of clear and concise policies and the lack of a categorical framework for PV or solar
assets, Australia has remained to lead from behind in the generation of solar energy as compared
to other Asian and Europe countries even though it has the greatest solar radiation per square
kilometers. The suggested framework will of the basis for gaining an elaborate comprehension of
the current status of the individual solar farms and the subsequent steps in the improvement of
the capabilities of asset management.

Contents
Abstract.......................................................................................................................................................1
List of Figures...............................................................................................................................................4
List of Tables................................................................................................................................................5
CHAPTER 1: INTRODUCTION........................................................................................................................6
1.1. Background of the Study..................................................................................................................6
1.2. Research Aim and Objective.............................................................................................................7
1.2.1. Aim............................................................................................................................................7
1.2.2. Objectives..................................................................................................................................7
1.3. Objectives of the Study.....................................................................................................................8
1.4. Problem Statement...........................................................................................................................8
1.5. Rationale of the Study......................................................................................................................9
1.6. Research Hypothesis.......................................................................................................................11
1.7. Thesis Structure..............................................................................................................................11
CHAPTER 2: LITERATURE REVIEW..............................................................................................................13
2.1 Introduction.....................................................................................................................................13
2.2 Asset Management..........................................................................................................................13
2.3 Asset Management in Large Solar PV Plants....................................................................................15
2.4 Best Practices for Utility Solar Operations, Maintenance and Asset Management.........................15
Current policies and asset management plan for the large scale PV Power Plants in Australia............20
Thermal Power Plant Asset Management in Japan with Asset-centric Data Model..........................20
CHAPTER 3: RESEARCH METHODOLOGY...................................................................................................33
3.1 Introduction.....................................................................................................................................33
3.2 Research Philosophy........................................................................................................................34
3.2.1 Positivism..................................................................................................................................34
3.2.2 Interpretivism...........................................................................................................................35
3.3 Discussion and Rationale for the Research Approach......................................................................35
3.4 Research Strategy........................................................................................................................36
3) Use of questionnaires..........................................................................................................................38
4) Interviews.............................................................................................................................................39

5) Secondary sources...............................................................................................................................39
7) Computational methods and simulation...........................................................................................40
Rationale for research methodology......................................................................................................41
CHAPTER 4: RESULTS AND DISCUSSION.....................................................................................................42
i) TasNetworks Strategic Asset Management Plan................................................................................42
Strategic Asset Management Considerations....................................................................................45
4) Relationship to Other Functional Objectives.................................................................................48
Findings/Outcomes...................................................................................................................................65
CHAPTER 6: CONCLUSION & RECOMMNDATIONS....................................................................................67
References.................................................................................................................................................68

List of Figures
Figure 1……………………………………………………………..……………………………24
Figure 2…………………………………………………………………………………………..26
Figure 3…………………………………………………………………………………………..29
Figure 4…………………………………………………………………………………………..30
Figure 5…………………………………………………………………………………………..30
Figure 6……………………………………………………………………………..……………31
Figure 7……………………………………………………………………………..……………32
Figure 8…………………………………………………………………………………………..33
Figure 9……………...……………………………………………………………...……………34
Figure 10……………………………………………………………..…………………………..47
Figure 11…………………………………………………………………………………………48
Figure 12……………………………………………………………………………..………….49
Figure 13………………………..…………………………………………………….………….54
Figure 14……………………..…………………………………………………………………..57
Figure 15…………………………………………………………………………………………58
Figure 16………………………………………………………………………………...……….62

Figure 17…………………………………………………………………………………....……64
List of Tables
Table 1……………………………………………………………………………….…………..24
Table 2…………………………………………………………………………………..……….38
Table 3………………………………………………………………………………….………..60

CHAPTER 1: INTRODUCTION
1.1. Background of the Study
With the attention of the world shifting focus to global warming and climate change, alternative
sources of energy that are environmentally friendly and promoting sustainability have been
developed and continue to be developed. Australia is one os such countries that has not been left
behind either in such developments. There has been recorded an ever continuing upsurge in the
deployments of solar PV and such expansions are expected to even continue and surpass the
target in Australia (Abbasi, Islam & Shaikh 2014). More attention is thus being focused on the
maintenance and operations considerations more specifically for the case of utility scale plants
which dominate the market segment of the country. The arrangements of finances that govern
such melt-MW system mostly predicated on attaining the targets on the costs of productions
across 20 years and well as putting a premium on the performance of the lifecycles and
sustaining plant health.
However, the practices and protocols of operations and managements have remained quite a
distinct from attaining the standardization requirement and thus a high variation in the associated
budgeting in cases that are generally not sufficiently funded as per the number of stakeholders in
the industry (Adefarati & Bansal 2016).
The continued investigations and research on the strategies of lowering the plant capital
alongside the expenditures on the operation is, for one, exerting more and greater pressure on the
stakeholders of the project to align the operation and management practices and their associated
costs (Aghaei & Alizadeh 2013). Often perceived as a cost center on the balance sheet,
operations and management should it be even acknowledged as an input of value to the enduring
welfare of a PV plant often receives modest finding so as to meeting the threshold of the

competitive bid as well as the stringent demands of customers. The prices of record low power
purchase agreement for the utility scale plants in Australia are enhancing the investigations into
the budgets of projects leading to a reduction in the operations and maintenance alongside other
line items. There has been recorded a drop in the average large scale PV prices in Australia by
about $28/MWh every year for the period between 2006 and 2013 (Ali, Daut & Taib 2012).
1.2. Research Aim and Objective
1.2.1. Aim
The aim of the research is to evaluate the current asset management plan as well as develop the
best practice asset management plan for large scale PV Power Plants in Australia
1.2.2. Objectives
The objectives of the project include:
 Conduct literature on asset management plans, their benefits, drawbacks and applications
 Explore the asset management plans that are currently deployed for large scale PV Power
Plants in Australia
 Carry out a case study on the various practice asset management plans for Power Plants
elsewhere in the world
 Do a comparative analysis of the various practice asset management plans for Power
Plants elsewhere in the world and that conducted in Australia
 Develop the best practice assessment management plan for large scale PV Power Plants
in Australia based on the case studies done all over the globe and the comparative
analysis conducted (Al-Karaghouli, Renne & Kazmerski 2010).

1.3. Objectives of the Study
The overall objective of the study is mainly coming up with a management plan that upon
implementation would prove best fit for large scale PV Power Plants in Australia. Case studies,
surveys and numerous other techniques of data collection will be adopted and different examples
of practice asset management plans will be studied, their weaknesses and strengths identified.
Based on the findings from the preceding studies and the collected data, an analysis will be
conducted that would see a development of best practice assessment management plan for large
scale PV Power Plants in Australia (Alotto, Guarnieri & Moro 2014). The best practice
assessment management plan for large scale PV Power Plants in Australia would be a reflection
of the improvements in the preceding management plans as well as maintenance of those plans
that are perceived to have the desired qualities and hence would enhance the achievement of the
desired outcomes in large scale PV Power Plants.
1.4. Problem Statement
Going by the expectations of the nature of economics and financial sustainability, every industry
or firm be it manufacturing, processing or any other, each of the industries or firms aims at
minimizing costs and maximizing profit (Amrouche et al., 2016). Operations and management of
the existing assets is one of such surest ways of minimizing costs that may be in the form of
repairs or even brand new purchases. However, the currently existing asset management plans
are not extensive and elaborate enough to assist the company or industry move to anywhere close
to achieving such economic goals.
In response to this existing problem, this study suggest to explore the asset management plans
that are currently deployed for large scale PV Power Plants in Australia, do a comparative
analysis with the asset management plans as in the case of the other countries around the world

and then come up with the best practice management plans for large scale PV Power Plants in
Australia. This would be achieved through conductive extensive literature and case studies into
the various options for asset management (Arnold 2011).
The best practice asset management will be based on and take into consideration the cost
implications as well as the efficiency. A management plan that is most cost effective and is
attributed to the highest efficiency would be deemed the best assessment management practice.
1.5. Rationale of the Study
Asset management plan has remained to be one of the cornerstones of an efficient and effective
asset management system in any industry or company. The need and importance of the asset
management plan is precisely defined in the ISO 55000 series asset management standards
series. Among such importance include the provision of a roadmap that would be applicable in
the achievement of the value from physical assets through optimization of the costs, performance
as well as the risk across the lifecycle of an asset (Barlev, Vidu & Stroeve 2011).
For quite a long time now, most of the industries and organizing key among them PV Power
Plants in Australia both the large scale and the small scale ones have not had in place a proper
and elaborate asset management plan that they may use in enhancing the achievement of the
objectives and missions of the organization. As a result, the company has had to live with
increased maintenance exists of the various assets that have in turn led to diseconomies of scale
finding their ways into the organization at relatively early stages.
Such diseconomies of scale have in turn led to partial and even other time total paralysis of the
operations of the company. By developing an elaborate and expansive asset management plan for
large scale PV Power Plants in Australia, the efficiency of the plants will greatly be enhanced.

Such plans would help the companies in the realization of the value from physical assets through
optimization of the costs, performance as well as the risk across the lifecycle of an asset. An
asset management plan is a set of the implementation activities that are needed in the attainment
of the objectives of the asset management of the organization which would in turn translate to the
strategic intent of the company (Batista et al. 2013).
Cost optimization through the implementation of a properly development asset management plan
would reflect on the overall performance of the organization owing to the fact that most of the
wastage shall be greatly minimized if not fully eliminated. A best practice asset management
plan would be ideal in ensuring that all the assets of an organization are properly taken care of.
The benefits of such an elaborate plan would be enjoyed by both the organization and the
consumers of the products from the organization.
To the organization, wastages will be reduced and hence a lot of resources that are spent in the
maintenance or otherwise in the acquisition of new assets to replace the damaged once would be
diverted to other functions that are part of the organization’s day to day running. This would
ensure that all the various segments of the organization are in continues operation without
necessarily having to bring to a halt the functioning of a department to get another running as a
result of a breakdown in a department (Bazilian et al., 2013).
On the other hand, with a reduction in the cost of maintenance and avoidable acquisition of new
assets to replace the damaged ones, the cost of running the organisation tends to be lower. In
other words the company or organization enjoys economies of scale. The higher the economies
of scale in an organisation, the greater the sustainability and competitive advantage of the
company. The company is able to transfer such economies of scale to the consumer through fair

or reducing pricing which in turn increases the buying power of those customers. The end result
is an increase in the profit margin owing to the enhanced purchasing power of the customers
(Borenstein 2012).
1.6. Research Hypothesis
Hypothesis 1
A best practice asset management plan is cost effective
Hypothesis 2
A best practice asset management plan enhances the efficiency of the organization
1.7. Thesis Structure
The thesis is structured into six chapters.
Chapter 1 which serves as the introductory chapter and encompasses such sub-chapters among
them introducing asset management plans, research statement, aim objectives, research
questions, rationale of the study and research hypothesis
Chapter 2 is the Literature Review chapter. In this chapter, precedent findings related to the same
topic are studied into details with critics and acknowledgements made where they are most
relevant. This chapter is divided into numerous sub-topics among them:
 Review of the current policies and asset management plans for the large scale PV Power
Plants in Australia
 Identification and review of the domestic and international exemplars on assets
management plans for the large scale PV Power Plants
 Estimation of service delivery demand

Chapter 3 is Research Methodology chapter and the chapter defines the approach that will be
adopted to achieve the research aims and objectives.
Chapter 4: Results of the findings of the study. In this chapter, the various results will be
demonstrated using the various techniques that are used in the representation of results.
Depending on the research methodology used, the result will either be in tabular, diagram,
graphical or even modulation findings. This would be influenced by the nature of the data
collection techniques adopted.
Chapter 5 is about the Discussions and Recommendations. The discussions are in line with the
results that are determined in chapter 4. Each of the results will be discussed conclusively and
any shortcomings in the process of establishing the findings of the study noted as the limiting
factors that may reduce the accuracy or otherwise the reliability of the results. It is in this chapter
that insights into the new establishments as an improvement on the weaknesses of the literature
review are discussed and extensively explored.
Chapter 6: Conclusion. This is a chapter that gives a brief summary of the findings in the thesis
as a whole. It is in this chapter that recommendations for further work can as well be made
should there be need.

CHAPTER 2: LITERATURE REVIEW
2.1 Introduction
This chapter presents the findings and works carried out in the same field by other experts.
Among the key areas that will be covered in this chapter include the current policies and asset
management plans for the large scale PV Power Plants in Australia, an identification and review
of the domestic and international exemplar in asset management plans for the large scale PV
Power Plants, a definition an estimation of the service delivery demand as well as a review of the
practice when it comes to aligning service delivery demand with an asset portfolio (Buckman &
Diesendorf 2010).
In this chapter, the aforementioned sub-topics would be delved into at length and the research
gap in the preceding studies identified. The strengths and weakness of the various current asset
management plans for large scale PV Power Plants in Australia and abroad would be treated with
equivalent attention. From the currently existing asset management plans, an improved and best
practice plan will be developed that is best suited for large scale PV Power Plants in Australia.
2.2 Asset Management
In a broad sense, asset management may be defined as any system which checks and maintains
items of value to an organization or n individual. Asset management may be applicable both top
the tanging assets for example buildings as well as the intangible ones for example intellectual
property, human capital and financial assets among other assets. Asset management refers to the
systematic procedure use in developing, operating, keeping, upgrading and disposing of the
assets in such a manner that is cost effective (Bunse et al., 2011). This term is quite often
applicable in the financial section in which is describes the people and the organizing which take

part in the management of the investments on behalf of the investors. These may include the
investment manager who plays a role in the management of the assets of a pension fund.
Alternative perceptions of asset management could be in the environment of engineering in
which is defines the practice of managing assets to attain the highest possible return especially
for useful productive assets including plant and equipment as well as the process of checking and
keeping the facilities systems with the aim of offering the best possible services to the consumers
and users in all dimensions (Cabrera et al., 2013).
In narrowing down to asset management in engineering, the term mainly refers to infrastructure
asset management. Infrastructure asset management revolves around a combination of the
engineering, economic, financial among other practices which are applicable to physical assets
with the aim of offering the needed levels of service in a manner that is most effective in terms
of cost. It incorporates the management of the whole life cycle which is inclusive of the design,
construction, commissioning, maintenance, operation, modification, replacement as well as
disposal or decommissioning of the infrastructure and physical assets.
A prioritization scheme is needed in the operation and maintenance of assets especially in
constrained budget environment. In a manner that is illustrative, the most current developments
that are experienced of renewable energy have witnessed an increase in the effective asset
managers taking part in the management of solar systems. Such teams in most cases work in
collaboration with the financial asset managers so as to provide turnkey solutions to the investors
(Callaway & Hiskens 2011). Infrastructure asset management gained significant importance in
numerous developed countries in the 21st century owing to their infrastructure network which
was nearing completion in the 20th century and they must manage to operate and keep them in

such a manner that is cost effective. One of such kinds of infrastructure asset management is
software asset management.
2.3 Asset Management in Large Solar PV Plants
Solar Power Systems are quickly taking their place alongside the conventional and traditional
resources for the generation of electricity that are used in Australia. Utility executive are
continually perfecting the solar PV operations and maintenance and asset management owing to
their long standing heritage and benefit of generation of electricity which is safely produced,
dependably available and competitively priced (Careri et al., 2011). The large scale solar
installations in Australia have been getting aid from the mature and maturing operations and
management market existing in the solar industry as well as from other organizations among
them SEPA which have in turn led to the successful management of such plants.
2.4 Best Practices for Utility Solar Operations, Maintenance and Asset Management
Among the best practices that have been discussed in this section aimed at ensuring proper asset
management in large scale solar PV plants include:
 Spare Parts Strategy
 Real Tome Performance Reporting
 Plant Health and Wellness
 Consistent Feedback Loop
 Qualified Installation Team
 PAM: Pre-Emptive Analytical Maintenance
 Standards: Project Specifications and Industry Initiatives

PAM: Pre-Emptive Analytical Maintenance
This starts with the process by which the attention of everyone is brought on board at the
specification phase just before the design and is inclusive of the operations and management as
well as the individual tasked with conducting the commissioning
Coming with the lessons learned from the previous projects and industry knowledge and
including it in the expertise early enough into the process of design and specification so as to
facilitate saving on costs tends to be one of the most critical aspects of operations and
management team (Chen, Kang & Lee 2010). This is the point of reduction of the risk and it
forms the turning point at which most of the problems in the asset management process would be
eliminated.
Spare Parts Strategy
Identification and implementation of a spare parts strategy especially at the early stages if a
project development is highly recommended. This is because; some of the parts that may be
available may not be available at a later date when they will be most needed. Enhancements in
the efficiencies lead to cost savings and would always drive change. The spare parts strategy
includes:
Setting out the most important spare parts strategy early enough during the design phase
Identification of the components for replacement including solar modules that may not work for
what could be available in the field at the time. These components could be from a different
manufacturer, or even of a different size and obviously typically of a different wattage.
Standards: Project Specifications and Industry Initiatives

Project Specifications
Among the best practices in the creation of project specifications include:
Getting the input of operations and management and asset management experts
For the purposes of bidding: As soon as the specification has been built, it can be bid out to
enable everyone to bid on the same plant and hence offering an individual more control over the
process often in cases where the person is not going to be the owner of the plant or in other cases
where the individual would be the utility which is doing the PPA. It offers a much more stable
platform on what is going to take place during the life of the plant (Dalton, Alcorn & Lewis
2010).
Identification of strong vendor partners: Research should be exhaustively carried out so as to
choose on the vendors that are perceived be in a position of being around in the whole long run
period which is derived from their financial ability and historical data.
Creation of a consistent and standardized wording: Specifications that are carefully worded and
standardized are useful in ensuring the return of value to the customers by a project.
Directing the choices of equipment: A standard also acts as a tool that aids in the careful vetting
and selection of the manufacturers of equipment (Date et al., 2011)
Industry Initiatives
Most of the initiates for industry standardizations which are currently underway are working
internationally in order to identify the best practices and make clear each aspect of the asset
management and the operations and maintenance sector. Such efforts range from programs at the
federal level to different operations and management working in groups.

Qualified Installation Team
Having set the specifications in place, it is of utmost importance that the team, all the way form
the construction management, the EPC contractors to any other subcontractors that is performing
ant task in this field to be equipped with elaborate and detailed knowledge of what the
specifications are and the terms of the contracts so as to ensure that they are familiar with the
requirements and the expectations (Dawoud 2012). It is of importance to ensure that everyone in
the field have proper training and qualifications that would be important in the installation of the
equipment as per the specifications from the manufacturer. Knowledgeable personnel form a
fundamental aspect of the success in any organization especially when they are in the right
positions.
Another possible challenging could be having the required number of the skilled personnel and
in this case, the required number may be in reference to a number of people more than one or
two. This may call upon the attention of a team of skilled professionals in the execution of the
specification and the contractually purchases items. Lack of such a level of detail and quality
assurance in the field lead to high risks of getting an output that is different from what payments
were made for (De La Tour, Glachant & Ménière 2011)
Real time Performance Reporting
There is an advantage of moving form a month end to a real time performance reporting. While
tracking the performance on a monthly basis would aid from the standpoint that the performance
engineers collected data on the basis of a month and made calculations on the capacity of the
plant and made comparison with the actual capacity versus what was modelled, it was
established that upon the end of the month and in cases where the numbers were found not be

good looking, nothing could be done over the same (Demirbas & Demirbas 2011). By working
with an asset management team alongside their performance engineers makes it possible to come
up with a real time model accompanied with the trends for tracking the station capacity on a real
time basis as opposed to being held responsible for the results at the end of the fact.
Consistent Feedback Loop
The importance of creation of a consistent feedback loop for every project is appreciated by both
operations and maintenance executives. The industry faces risk of frustration in case it lacks a
consistent feedback loop that is used in the integration of the lessons learned and making
adjustments appropriately even if the industry has an excellent operations and maintenance
system (Depuru et al., 2011).
Plant Health and Wellness
Creation of a process that is consistently applied in the generation of the health and wellness
reports on the physical status of plants and integration of the findings from in-office and in-field
is highly recommended. A comprehension of the on goings with the health and condition of the
plant is important to ensure that the health and condition is maintained in such a way that the
plant is able to work even in the times to come.
Strategic Planning
Strategic planning is one of activities of the management of an organization used in the setting of
the priorities and focusing of the merger and the resources, ascertaining that the employees and
any other stakeholders are focusing their efforts towards common goals, strengthening polices,
establishment of the agreement about the intended outcomes and assessment as well as

adjustment of the direction of the organization with regards to the changes in the environment
(Dewald & Truffer 2011).
It acts as a concerted effort that generates the key decisions and actions that are used in shaping
and guiding what an organization is made of, the people it serves, what is does, why it does what
it does with the focus mainly being on the future. As a factor of the systems of an individual,
changes may need to be made to the operation of the system. Strategic planning is a concept of
management that aids in addressing and preparation of both the expected and unexpected
challenges and problems.
Strategic planning makes use of asset management in the evaluation of the current physical
situation of the system as well as evaluation the financial and managerial situation of the system.
It cares for making fundamental decisions over the purpose, structure and functions of the
system. In a bid to come up with the strategic planning work for a system or organization, there
is need to gather information that would permit making of intelligent and properly informed
decision regarding the future of the system (Epstein et al., 2011).
Current policies and asset management plan for the large scale PV Power Plants in Australia
Thermal Power Plant Asset Management in Japan with Asset-centric Data Model
Introduction
The two oil crises that occurred in the 1970s in japan marked quite a turning point for the
country that has natural resources and made the country shift to quite a more diversified use of
the energy resources in the generation of electricity. Up to and until such a time, the country
relied on oil in the generation of to the tune of 60% of its energy but this case changes in the
1990s, 20 years later to about 20% as illustrated in figure 10. One of the main contributors to

such a drop could be attributed to the nuclear power generation which could supply up to 30% of
the electric power needs of the country by 2005 (Evans, Strezov & Evans 2012).
Electric power suppliers as well went on to foster a diversification of the available energy
sources while at the same time struggling to make business operations more efficient. This made
them able to lower the expenses on non-fuels by approximately 30% as illustrated in table 3.
Their objective of the achievement of the goal of supplying stable and inexpensive electric power
was achieved which in turn has a significant impact on the economic development of Japan.
Still, the disaster that took place at the Fukushima No. 1 nuclear power station which was as a
result of the Great East Japan Earthquake initiated calls for a rethought and restructure of the
common notion that generation of power through nuclear is a superior energy source with regard
to the environmental impacts as well as cost (Fripp 2012).
In effect, there has been an ever growing interest by the various stakeholders in renewable
energy including solar power and hydropower to act as alternative energy sources of nuclear
energy. Despite this fact, it is not disputable that any hasty changes to such alternative sources of
energy without ascertaining a stable supply of power alongside resolving the other associated
issues may have a significant impact on the economic activities as well as the daily lives of the
Japanese. It is for this reason that at this point in time in which a very great percentage of the
nuclear power generation in Japan has come to a stop, there exists no other alternative but rather
to depend on thermal power generation using such fuels as coal, oil and natural gas which are
ever and continue to be costly (Gahleitner 2013).
This has seen the electric power suppliers face a major problem and have even initiated
discussions aimed at the liberalization of industry through legally separating the components of

the industry which generate power from that which works on the transmission and distribution
components. Such changes are leading to situations in which the business operations may need to
be made more efficient (Ghaffour, Missimer & Amy 2013).
Figure 1: Trends in the generation of electric power (Epstein et al., 2011)
Table 1: Change in the breakdown of the rates of electricity (average cost basis of business
expenses per kWh of about 10 power companies) (Fripp 2012).

The Need for Asset Information
As is observable in table 10, there is a high ratio of the costs related to assets (which include
depreciation and repair expenses) under circumstances when such costs are related to the fuel
(including fuel expenses and purchased power). This is sense in this due to the fact that
numerous large scale asses are needed in the generation of power. As a result, information on
assets that are aimed at repair and that on depreciation is important for increasing the efficiency
of business operations (Gil et al., 2010).
Similarly, strategies that have been adopted with the aim of reducing the costs are expected to
not interfere with safe operations or sacrifice a stable supply of the power. Technologies
associated with safe operation and inspection of assets as well as to repair of assets are mostly
important in the prevention of the occurrence of such problems. Such technologies as well aid in
the promotion of acquisition of skills, provision of hands-on experience as well as the facilitation
of studies related to assets which would in the end improve the efficiency of work besides
reducing costs. In a nutshell, asset information is important in the simultaneous achievement of
two goals which are to some extent contradictory: maintenance and improvement of stability as
well as reducing costs and safety.
Fujistu’s perception on asset management
According to Fujistu, asset management and asset information management is not only interests
in managing the asset ledger (Grant 2016). As has previously been discussed, asset information
management has a direct link with the reduction in costs as well as maintenance of stability and
safety and hence asset management must include a full range of work among them decision
making, core work as well as acquisition of knowledge which are all based on asset information
as shown in figure 2.

Figure 2: Asset Management Work Range (Holttinen et al., 2012)
Through storing asset information which tends to be the nucleus of asset management in a
management system, associations can be drawn from the different types of information, design
of the construction work which encompass planning of maintenance work and from information
that is associated to the planning on previous results (Grossmann, Grossmann & Steininger
2013). This makes it very easy to reference asset information during the time of planning as well
as allowing previous procurement and work history conditions which resemble those of the
target asset to be easily checked which may in turn foster the efficiency of planning and
accuracy. Still, inspecting the construction conditions makes it easy to separate the targets which
require measures that are aimed at cost reduction being a management system that is based on
accumulated data where equipment=inspection data.
Such checking may just be a study on the reductions in the cost of the units in inspection targets
even though it can as well be an exploration into the need of construction work in units of
inspection target through changing from time-based maintenance (TBM) which is a maintenance
technique which involves performing repair works at intervals to condition based maintenance
(CBM). Condition based maintenance is a technique in which diagnosis of the condition target
equipment determines the repair time (Hawken, Lovins & Lovins 2013).

Fujistu’s solution
Fujistu offers a solution for asset management for thermal power plants taking into accounts the
above considerations. The solution is composed of an interval package function which is pegged
on a data model which describes an equipment=inspection target management system as well as
a system engineering service for use in the implementation of the function. The solution is
described into finer details in the subsequent texts.
Data model describing equipment=inspection target management system
Even though the outlined goal in this case is the attainment of equipment=inspection target
management system, this is beyond just grouping equipment that are targeted for inspection as
well as the management of information on such an equipment (Hernandez et al., 2014). An
example would be an asset maintenance work that involve both medium term and long term
planning, placing of orders, drafting of the budget and making of contracts, there would also be
need for information which could be used in assuring the sustainability of the budgets and plans.
Still, work associated with the acceptance and completion of the inspections needs information
on the condition target equipment brought on board in an inspection besides historical
information on the period of work, expenses among others. Information related to the equipment
is also needed such as the date of manufacture, the manufacturer and the challenges of the
equipment which would then be used in the identification of the cause of an accident (Hiroux &
Saguan 2010).
The type of work to be carried out determines the equip-inspection target information and as a
result, should there be a preparation and management of the equipment information for every
work type, such information would tend to be scattered about the system and hence making it a

bit of a challenge to coordinate the information between the various types of work be it even for
the same asset. Such a scenario may not only interfere with efficient operations but also result in
inappropriate maintenance work. In order to prevent such problems from taking place, a data
model is needed which has a multifaceted structure and is able to enhance the uniform
management of the information on equipment=inspection target as well as for a multiphase
structure of data that meets the needs of the user (Hirth 2013).
Kaname Analysis is one of such tools that have proved essential in the establishment of the
foundation for such a model of data. This was a technique that was formalized by Fujitsu in the
development work of system. The technique is applicable in a range of scenarios ranging from
upstream processes for example work analysis to system construction that are based on service-
oriented architecture (SOA).
Kaname Analysis makes a clarity on the nature of each of the work types that are linked with
equipment=inspection target as well as making a clarification that equipment=target information
needs to be managed and at which detail level while creating links between the information and
the different types of related work.
Interval package function
The interval package function runs a work system that is based on the above data model. The
work system is in charge of inspection and construction planning as well as results which are
often the most important aspects of asset management work as envisioned by Fujitsu. The
interval inspection table is found at the center of work for the management of inspections as well
as the construction planning and results in the interval package function (Holttinen et al., 2012).
Figure 3 illustrates the scenario. Configuration of the function is done in such a way that the

equipment=inspection target information can easily be referenced, modified and registered in the
table.
Figure 3: An Overview of the Interval Package Function (Khatamianfar et al., 2013)
The table screen for the inspection interval as illustrated in figure 4 allows the user to display up
to 10 years’ worth of planning of work item as well as the subsequent results at the time of
periodic inspections with regard to equipment=inspection target and that of construction work
planning and the aftermath results with regard to the equipment. Besides, it is possible to
automatically update planning in cases of any additions or changes to the inspections or
construction works (Jacobson & Delucchi 2011).

Figure 4: Inspection interval table screen (interval package function) (Fripp 2012).
The equipment details screen as shown in figure 5 is usable in making reference to the
information on the equipment that is being targeted for inspection. A display of the needed
equipment information is a modest format allows the user to envisage the equipment in such a
manner that is intuitive when performing adjustments to the inspection plans (Kabir et al., 2014).
Figure 5: Equipment detail screen (interval package function) (Epstein et al., 2011)

The work-item detail, registration and modification screen as shown in figure 6 offers the
functions that are meant for registration, referencing as well as modification of the contents of
the work that is conducted at the time of the inspection of periodic equipment (Kalogirou 2013).
Figure 6: Work-item detail, registration and modification screen (Interval package function)
(Epstein et al., 2011)
Still, work-item detail, registration and modification screen as shown in figure 7 allows the
referencing, registration and modification of the contents of equipment construction work
(Khalilpour & Vassallo 2015). Such contents of the work-item registration, the modification
screen as well as the detail or the construction work registration, modification screen and detail
are reflection on the inspection interval table instantly.

Figure 7: Work-item detail, registration and modification screen (Interval package function)
(Khatamianfar et al., 2013)
The master budget maintenance list registration, detail and modification as illustrated in figure 8
allows uniform management of the data of master budget in such a way that incidental work
needed for periodic inspections and expenses related with countermeasures of safety. A
combination of the information displayed on this screen with the other information such as
construction expenses outlined for some work items allows the budget for periodic inspection to
be estimated roughly. The interval package function is able to operate in a stand-alone manner
using a personal computer as it does not need the deployment of a large scale system. It is thus
possible to envision the cases in which there will be preparation of new data.

Figure 8: The master budget maintenance list registration, detail and modification (Interval
package function) (Epstein et al., 2011)
Nonetheless, conventional asset management work does not in any way leave behind any traces
of data that could be perceived to be needed. More often than not, a change in the names that are
allocated to the different types of data or a substitution of the required data using other types of
data that are found in the system is all that is needed in the implementation of the interval
package function. Fujitsu offers such possibilities in the form a data migration service
(Khatamianfar et al., 2013).
The thermal power plant asset management solution is geared towards a mission of critical work
that corresponds to the conventional TBM. Yet, to aid CBM and risk based maintenance (RBM
which is a maintenance technique applied when the risk factors accounted with the equipment
condition determine the repair work cycle); Fujistu offers its solutions in combination with the
Meridium AOM which is derived from Meridium Inc. as shown in figure 9. Such a combined
solution has elements that are related to the management accounting as well as the business

strategy and thus aids in unmasking the relationships between the conditions of assets and costs
which in turn support the change from TBM to RBM and CBM. The combined solution is hence
effective for the component of power generation of the industry.
Figure 9: Meridium APM Solution (Epstein et al., 2011)

CHAPTER 3: RESEARCH METHODOLOGY
3.1 Introduction
Research methodology is characterized as a deliberate methodology that guarantees the analyst
to assemble appropriate data or to embrace examination relating to his subject by utilizing
diverse research strategies. The aim of the proposed research is to evaluation of the current asset
management plan and develops a best practice asset management plan for large scale PV power
Plants in Australia (Kuang et al., 2016). The objectives were set in order to assist in achieving
the main aim of the study. Due to that, it was essential to have an overview of the evaluation of
the current asset management plan and develop a best practice asset management plan for large
scale PV power Plants in Australia.
It was of great importance to understand the main features of topic of research. Hence qualitative
research method together with the literature review and quantitative approaches were employed
for the research. This research methodology is appropriate to carry out this research because the
literature reviews offer information that is detailed about the evaluation of the current asset
management plan and develop a best practice asset management plan for large scale PV power
Plants in Australia (Kurokawa 2012).
This research methodology gives an overview of the preceding researches that have been carried
out in the field and at the same time gives a short description about evaluation of the current
asset management plan and develop a best practice asset management plan for large scale PV
power Plants in Australia. In short, the literature review that was conducted assists to find the
research gap for the research topic.
The manner in which a research is carried out may be observed in terms of the philosophy of the
research to which it is subscribed, the research strategy adopted as well as the research

instruments that have been used or developed in the course of pursuing the foal of the research
which are mainly the research objectives alongside the need for the solution to an identified
problem which is the research question. This chapter thus purposes to:
 Explore the research philosophy used with regard to other philosophies
 Discuss the research tools that have been developed and used for the purposes of meeting
the goals of this research
 Delving on the research strategy that has been adopted for this research which is inclusive
of the methodologies used
3.2 Research Philosophy
This defines the belief on the manner in which the data involving a particular phenomenon
should be collected, analyzed and used. The different philosophies of research revolve around
epistemology which refers to what is known to be true and doxology which defines that which is
believed to be true. Science thus serves to change those that are believed to be true to things that
are known to be true (Lewis 2010). Two main research philosophies are commonly used:
interpretivism and positivist.
3.2.1 Positivism
Positivism is a belief on the fact that reality exhibits a stability and can observed and defines
from an objective viewpoint without necessarily causing any interference with the phenomenon
that is under study (Zheng et al., 2011). Positivists resist the notion that it should be possible to
repeat the observations and that the phenomena should be isolated as such in most cases comes
along with manipulation of the reality upon variations on a single independent variable in the
identification of the regularities and forms of relationships (Lewis 2016).

3.2.2 Interpretivism
Interpretivism revolves around a contention that elaborate and full comprehension of a reality
can only be achieved through subjective interpretation of and intervention in the reality. A study
of the phenomena within their natural environment is fundamental in interpretivism philosophy
alongside the acknowledgement that scientist are not able at any costs to avoid affecting the
various phenomena that they study. In this study, the scientist confirm that there may be
numerous understandings of reality even though they maintain that such understanding or
interpretation are themselves forming part of a scientific knowledge which they are studying.
3.3 Discussion and Rationale for the Research Approach
In most cases it has been noticed with utmost precision that not any single research methodology
is superior to the other with most of the scholars and authors campaigning for a combination of
the various research methods so as to enhance the quality of research. Still, some institutions and
organizations have also adopted a particular house style methodology; a situation that sounds to
be almost defiant of the fact that following the richness and the sophisticated nature of the real
world, a particular research methodology would be best suited to the research question that is
under consideration alongside the objectives of the particular research. This research has in every
capacity attempted to avoid what could be characterized as methodological monism which refers
to the instances of adopting just a single research method (Lewis 2011).
This has not been causes however, by an inability to make a choice between the different
advantages and disadvantages of the different alternatives. Instead, this has been influenced by a
belief that all the methods would add value to the research if properly used in the study; hence a
research may encompass both the elements of interpretivism and positivist approaches should it
be carefully managed.

The main concern in this was that the research that was to be undertakes should have been both
of much relevance to the research question as is outlined in Chapter One as well as being very
rigorous in its operationalization. In overall terms, interpretivism philosophy tends to be the
approach that could be most needed for this purpose which would involve an understanding of
some of the best practice asset management plans used in countries around the world, more
categorically that which would best fit the cases of large scale PV Power Plants in Australia (Li
et al., 2011). This research would entail an element of understanding how management plans
works for various assets. In acknowledgment of the lack of objectivity that is at time associated
with interpret research methods; a quality positivist approach is adopted towards the
development of the main research instrument.
3.4 Research Strategy
There are numerous existing research methodologies that have been identified among them
listing fourteen, the use of hierarchical taxonomy that has three levels as well as eighteen
categories. The table below shows the various methodologies and their classification based on
whether they conform to interpretivism or positivism paradigms. The main characteristics of the
main methodologies are as summarized in the table after which there are justifications for the
choice of the methodologies adopted for this research and an exploration on the operations and
interoperations in the study.
Positivist Interpretivism
Surveys Action Research
Laboratory experiments Reviews
Field experiments Futures Research
Theorem proof Argumentative
Simulation Interpretive
Forecasting Game playing
Case studies Case studies
Table 2: A Taxonomy of the main Research Methodologies

Some of the methods that were applied during research include:
1) Surveys
Surveys give the researcher an opportunity to obtain information regarding situations,
perceptions to practices at a point in time through the use of interviews or questionnaire. From
there, techniques for quantative analyses are then used in deriving the inferences from the data
about the existing relationships. The use of surveys give the researcher an opportunity to explore
numerous variables at ago that can be achieved through a field experiment or library experiment.
The main drawback of this methodology is that it is quite challenging to notice the insights that
are relating to the processes included or causes of measured phenomena (Liu et al., 2013).
2) Case Studies
Case studies encompass an attempt to define and explore the relationships that are found in
reality in most cases in a single organisation. Cases studies could of either positivist or
interpretivism in nature and are a factor of the approach that has been adopted by the researcher,
the data gathered and the tools or techniques of analysis used. An observer-researcher approach
is ideal in the capturing of the reality to greater detail and case studies are able to provide a
deeper analysis that can be achieved by survey research and experimental research (Lo & Ansari
2012).
Being restricted to one organization, case studies can be perceived too weak since by considering
just a single organisation, making a general conclusion on the findings becomes challenging as it
is hard to come across similar cases with similar data which can be analyzed in a way that is
statistically meaningful. Still, various researchers may have varied interpretation of the same data
hence topping up the research bias into the equation.

3) Use of questionnaires
Questionnaires will administer using both electronic media such as email and the field
administration. The questions which will contain in the questionnaires will be relating direct to
the topic of research. The questions were straightforward to enable the respondent to respond
without any challenge.
Advantages of Questionnaires
There are many benefits which are associated with the use of questionnaires to collect data some
of them include;
 Questionnaires are cost-efficient
 Faster to obtain results
 No specific skills or knowledge required to handle
 They allow scientific predictions and analysis
 It is easier to cover all the aspects of the topic of research
Disadvantages of using questionnaires
Even though the questioners have lots of benefits they also have some setbacks such;
 Some of the respondents may be dishonest resulting in inaccurate data.
 The challenge of understanding and interpretation
 Some of the questions might be a challenge to the respondent to analysis
 Some of the respondents might be having a hidden agenda
 Some of the questions can be skipped thus leading inadequate data.

4) Interviews
Various practitioners who are involved in the design of the aircrafts were interviewed on various
issues which are related to evaluation of the current asset management plan and develop a best
practice asset management plan for large scale PV power Plants in Australia. Questions which
were relating to the topic of study will be used during the interviews.
5) Secondary sources
By conducting the literature review, the author could pass the knowledge about the topic of
research, and it would include the main features of a topic. This research approach is of great
importance in achieving the objectives and aims of the research. This research approach is also
very helpful in attaining all the objectives and aims of the research such as to have a summary
evaluation of the current asset management plan and develop a best practice asset management
plan for large scale PV power Plants in Australia (Ma, Yang & Lu 2014).
6) Use of mathematical models
Various mathematical models will be used during the research. Mathematical models regarding
the evaluation of the current asset management plan and develop a best practice asset
management plan for large scale PV power Plants in Australia
Advantages of using mathematical models
Some of the advantages of using mathematical models include:
 They are easy and quick to produce
 They can be able to simply a more complex situation
 They can greatly help in enhancing our understanding of the real world variables.

 They make it possible for the predictions to be made
 They can assist in providing control as in the case of aircraft control
Limitations of using mathematical models
 Most of the mathematical models are a simplification of the real problem and in most
cases does not include the aspects of the problem.
 The mathematical models might only work in certain situations.
7) Computational methods and simulation
Various computer programs and simulations will be carried out to determine the aspects of
evaluation of the current asset management plan and develop a best practice asset management
plan for large scale PV power Plants in Australia.
Benefits of Computational methods and simulation
 Computer simulation can avoid danger and loss of life
 The different conditions can be varied and the outcome of evaluated
 Computer simulations can be sped up so that the character can be studied easily and
quickly for a long time
 The simulations can be slowed down to study the behaviours more closely
 Simulation is more cost-effective
Disadvantages of Computational methods and simulation
 In simulation it can be very hard to measure how one factor affects another in order to
make initial measurements
 For one to carry out simulation he/she requires a deeper understanding of the subject

Rationale for research methodology
The research proposed is intended on utilizing case study investigation as a suitable system to
carry out the research. Case study technique encourages a researcher to keenly examine the
information relating to a particular setting that is a specific topographical territory chose as a
topic of study (Ma et al., 2015). Additionally, a case study investigation strategy allows a
researcher to pick up top to bottom information and illustrate the aspects of a proposed research
topic. For the given research project it is suitable as the investigation evaluation of the current
asset management plan and develop a best practice asset management plan for large scale PV
power Plants in Australia. Further, the case studies are set to determine the up to date natural
experience. By considering the above aspects the research proposed undertakes the case study as
the research strategy, which permits the researcher to accommodate this advanced practice on a
building confined to a specific topographical area.
The proposed research will be conducted with qualitative approach. In quantitative approach the
authentic information is gathered from research executed previously executed beforehand from
the auxiliary sources. In qualitative approach the exploration will attempt examine on
perspectives, encounters and suppositions of the people (Ma, Callaway & Hiskens 2013). In this
manner, for the given proposed research that is investigation of the evaluation of the current asset
management plan and develop a best practice asset management plan for large scale PV power
Plants in Australia for a particular case study building, qualitative and quantitative approaches
will be appropriate for the research proposed.

CHAPTER 4: RESULTS AND DISCUSSION
i) TasNetworks Strategic Asset Management Plan
TasNetworks, Tasmanian Networks Pty Ltd, provides telecommunication and electricity network
services both to the owners, customers as well as to the community since it began its operation in
July 2014. Owned by the Tasmania government, TasNetworks is the sole owner, operator and
maintainer of the transmission and distribution of networks of electricity on the mainland
Tasmania and Bruny Island. The asset management system framework for TasNetworks is still
undergoing developments so as to ensure it is in line with the ISO 55000 series of the standards
of asset management (Ma et al., 2012). Among the anticipated benefits of the TasNetworks asset
management system include:
 Enhanced engagement of the people through such activities as leadership, cross
disciplinary teamwork and communication
 Reduction in the cost of asset management over a long period of time
 Orienting the strategic initiatives over the asset management system
 Enhancement of asset management planning; and
 Alignment of the functional contributions, processes and resources
The ISO 55000 series of standards refers to the standards that are internationally accepted for the
management of assets and is composed of three distinct standards:
 ISO 55000:2014 which offers an overview of assets management
 ISO 55001:2014 which offers specifications of the requirements that are needed for the
establishment, implements, improvement and checking of a system of asset management;
and
 ISO 55002:2014 which offers guidelines on the application of asset management system

The asset management system framework for TasNetworks is as illustrated in the figure below.
The frame has been arrived at through close alignment to ISO 55001 and more specific
relationship between the arioso main elements of an ISO 55000 asset management framework
(Madlener & Sunak 2011). The complaint frame of ISO is aimed at ensuring delivery of efficient
and prudent results by the systematic approach to asset management which attains the corporate
objectives alongside Asset Management Objectives

Figure 10: TasNetworks Asset Management Plan (Epstein et al., 2011)

Strategic Asset Management Considerations
1) Stakeholders Requirements
The shareholders of TasNetworks just like any other shareholders expect from them the most
appropriate return on the investments done. TasNetworks thus has developed a plan that provides
a balance between the recommended return on investment and the least sustainable customer
prices as per the regularity allowances (Martin & Rice 2012). The following strategic goals have
been developed toward the achievement of the stakeholder requirements:
 Delivery of sustainable shareholder outcomes
 Giving its people an opportunity to deliver value
 A comprehension of the customers through making them central in everything it does
 Taking care of the assets as well as delivery of reliable and safe network services and at
the same time transforming the business
2) Stakeholder Engagement
TasNetworks works in cooperation with the stakeholder to:
 Get support for the decisions undertaken
 Comprehend the issues they face
 Aid in the identification of options that could be used in addressing the issues being faced
 Aid in the clarification of the decisions taken
The customers of TasNetworks are divided into six different categories as sown in figure 11
below

Figure 11: Segmentation Model for TasNetworks (Epstein et al., 2011)
3) Relationship with the Strategic Objectives of the Organization
In a bid to ensure that TasNetworks delivers the requirements of the customers as well as the
strategic objectives, the company does the follow:
 Implementation of the Voice of the Customer program and associated initiatives which
provide enhanced customer service that are aligned to the various segments of the
customers (Masini & Menichetti 2013)
 Delivery of a culture of high performance to facilitate change and deliver of enhanced
outcomes for the customers and well as the shareholders
 Provision of sustainable and predictable pricing to the customers

 Establishment of business systems that are efficient and integrated high give the people
an opportunity to deliver value
 Provide a TasNetworks enterprise agreement which is supportive of the strategic goals;
and
 A development of a framework of business excellence that incorporates a continued
improvement of the asset management systems, framework for governance as well as
business processes
The goals of the organization are summarized in figure 12 below.
Figure 12: TasNetworks 2015-16 Business Strategy (Masini & Menichetti 2013)

4) Relationship to Other Functional Objectives
TasNetworks also has numerous other issues that are equally importance and related that t works
through with its customers. Among such issues include:
 A change to a single transmission and distribution revenue reset that kicks off in 2019
 The strategy for future distribution tariff which is inclusive of a small enhanced meter
trial (Mata, Martins & Caetano 2010)
 An enhancement of the connection process of the customer
 Leading and implementation of actions that have been identified in the Tasmanian
Energy Strategy
 A determination for two year distribution that is to be handed to the Australian Energy
Regulator
5) Asset Management Policy
An Asset Management, AM policy has been approved by TasNetworks in a bid to asset in line of
sight as well as an alignment of the activities of asset management to the strategic goals. The
Asset Management Policy applies to all the assets of TasNetworks as well as the associated
activities and is an overarching document which controls the asset management system. The
asset management policy offers an ideal platform that can be used by TasNetworks in the
delivery of its vision that is to be trusted by the customers to ensure it delivers today as well as
creating a better tomorrow (Ming et al., 2013). Among the main concise rations in the
developments of the asset management policy include:
 Definition of the leadership that is involved
 A comprehension of the organization and its structures and context
 The authority responsibilities and roles of the organization; and

 A comprehension of the anticipations and needs of the stakeholders among them the
customers
Among the fundamental aspects of the Asset Management policy include
 It is applicable to every asset that is under the management of TasNetworks
 It depends in the commitment from the leadership of TasNetworks
 It is to some extent and some areas inspirational; and
 It is applicable to each of the stages of the life cycle including demand analysis, strategic
planning, stakeholder needs, technical requirements, works management, performance
analysis, and disposal and decommissioning
Asset Management Objectives
The objectives of asset management have been designed in such a way that they are in line with
the asset management policy and the objectives of the organization and thus achieving a clear
line of sight of the objectives of asset management outcomes that are needed from an asset
management system as well as the program that would be used to ensure that TasNetworks
achieves its strategic goals (Mohammed, Mustafa & Bashir 2014). There are is main areas which
the asset management objectives focus on among them:
 Cost performance which would be enhanced through such strategies as prioritizations and
improvements in the efficient that would provide an opportunity to offer lowest
sustainable and predictable pricing to the customers
 Zero harm would remain to be the top priority in which the organization would always
ensure that it continually enhances its safety performance and the assets being risk
managed by the Risk Management Framework (Mondal, Kamp & Pachova 2010)

 Customer engagement would be enhance to ascertain that the needs of the customers are
fully understood and such needed included into the decision making so as or ensure
maximization of the values of such needs
 Service performance would be kept constant at the currently existing levels of network
service with improvements done to the services of the reliability communities that are
recording poor performance so as to attain the set out performance criteria.
 There will be continuous improvement in the asset management capability so as to
support service performance and cost as well as record improvements in the efficiency.
 Development of the program of work and timely delivery as well as delivery within the
provided budget (Morrissey, Moore & Horne 2011)
The Regulatory Framework
TasNetworks offers its services within the confines of the national and jurisdictional regimes.
Being a member of the NEM, it is expected of the organization to come up with, operate and
keep the supply system of electricity in line with the National Electricity rules. Besides, there are
also some local requirements that the organization is expected to be in compliant with under the
licences terms as issued by Tasmanian Economic Regulator.
The organization is as well subject to Tasmanian Acts and Regulations that are specific to the
industry, including and not limited to:
 Electricity Ombudsman Act 1998
 Electricity Companies Act 1997
 Electricity Industry and Administration Act 1997
 The Tasmanian Electricity Code
 Electricity Waylays and Easements Act 2000; and

 Electricity Supply Industry Regulations 2007
The AER is in charge of the transmission and distribution services in the NEM. Among such
responsibilities include the determination of the highest amount of revenue allowed for the
regulated service providers of electricity network (Zhang, Wang & Wang 2012)
Determination of Revenue
The AER sets the revenue that is earned by TasNetworks for offering monopoly transmission
and distribution services. As at the moment, the revenue is determined sparely for distribution
services and transmission services (Mullan et al., 2012). Two proposals are effectively prepared
for the AER that highlights the expenditure plans of the organization so as to efficiently offer
network services for a period of five years.
TasNetworks submitted a Revenue Proposal for the Tasmanian electricity transmission network
for the period between 2014-2019 regulatory controls. The proposal was accepted by AER which
was one of the unprecedented outcomes.
A merger between the transmission and distribution networks businesses in the creation of
TasNetworks has offered an opportunity to bring together the respective processes for regulator
determination. TasNetworks is working towards the alignment of the transmission and
distribution processes in 2019 through the use of a two year distribution reset that was in place
by 2017 (Negro., Alkemade & Hekkert 2012). The intention of merging the two determination
processes is lowering the cost through combined planning as well as contribution towards the
strategic objective of a single business that would offer the organisation an opportunity to
objectively engage with its customers along all the network services that are provided by
TasNetworks. The roadmap for the Distribution Reset is as shown in figure 13.

Figure 13: Distribution Reset 2017-2019 Roadmap (Masini & Menichetti 2013)
Integrated Investment Planning
The requirements of each of the customers and stakeholder is considered by asset strategy
management and asset planning as well as the determination of the most appropriate solutions to
ascertain maintenance of the performance of the distribution and transmission network.
TasNetworks has to come up with an overall works plan that is inclusive of all the projects as
well as a consideration of their effects on the network and the non-network assets (Neves, Silva
& Connors 2014). The capital plan brings together the asset management plans and the area
development plans for the different classes of assets. Such plans are integrated to come up with
an integrated investment plan and thus ensuring that each of the opportunities is identified in the
minimization of expenses.

Evaluation of Investment
TasNetworks has come up with the necessary guidelines that highlight the steps which should be
carried out and the main considerations during investment evaluations of projects that involve
network assets (Zhang et al., 2011). Such guidelines offers help to the personnel engaged in the
justification of the investment projects through:
 Specification of the needs in every step
 Identification of the different types of projects
 Provision of the guidelines that are to be followed on the implementation of the various
steps (Oh et al., 2010)
 Linking the different processes, tools and systems in the provision of a consistent basis
that can be used for the justification of the project; and
 Identification of the outputs and inputs of the different steps of project justification
Gated Investment Process
TasNetworks keeps a framework of a gated investment process which highlights the structure of
governance that guide the determination and evaluation of the decisions pertaining to capital
investment (Yeo et al., 2013). The framework illustrates that TasNetworks has in position and
adopts the needed financial, technical and managerial governance processes to ascertain that:
 Capital expenditure is judicious and the outcomes from a demonstrably judicious and
effective asset investment and management governance framework
 Investments are in line with the justified plans of development and strategies, offering a
reliable network service of electricity, catering for the new electricity connections and
efficiently adding capacity to attain the forecast load growth (Pachauri et al., 2014)

 Investments are in line with the asset management plans; and
 Investments attain the mandated regulatory and legal obligations in a manner that is cost
effective and in compliance with the objectives of the specific expenditure alongside the
stipulated criteria in the NER (Yu et al., 2011)
Timing and Delivery of Work Programs
TasNetworks fully utilizes the work program that has been proposed by the organisation with
regards to the operating tasks and the capital. More specifically there is maximum utilization and
optimization with regard to timing as well as the sequencing of the projects pertaining to the
renewal of assets which take into consideration numerous factors among them the benefits as a
result of aligning the renewal of asset with connection or augmentation projects or with activities
along maintenance and costs (Rahman et al., 2010). More categorically, optimization is carried
out in order to:
 Maintain the performance
 Attain sustainable returns of shareholders and customer prices
 Ascertain the attainment of the corporate foals
 Ensure that a tolerable and acceptable risk profile over all the assets is achieved
 Ensure that all the deliverables of the work program are done; and
 Across all the asset bases including the network as well as the non-network
Delivery of the capital works program is of utmost importance as it aids in the minimization of
the chances of additional operating expenditure in a hid to sustain the assets over their anticipate
service lines in cases where run-to-failure is not adopted (Reddy et al., 2013).

Investment Funding Requirements
The figure below illustrated the real and anticipated or forecast integrated investment funding
needs that are requirement for the porpoises of the management of the transmission system.
Figure 14: Funding Requirements for Transmission (Schiebahn et al., 2015)
As can be observed in figure 6, there has been a continuous trend of decrease in the actual spends
as well as the forecasts for the past three years for TasNetworks (Sahoo 2016). This trend is
observed in the total spend that is established to decrease for the next six years. The trend in the
reduction of the total spend may to a great extent to attributed to a relatively significant reduction
in the spending on development by TasNetworks in the recent past years as a result of the
decrease in the connections with the customers, a reduction in the Tasmanian load as well as
more efficient and effective utilization of assets.

Still, the figure also illustrates that the renewal that was expanded recently or the enhancement
program that was done to the transmission network hit its highest levels in 2014. The
enhancement program is anticipated to decline to a lowered level over the preceding five years
(Saidur et al., 2013). There has as well be rigorous explorations on the reductions that are
involving the operating costs as well as those that are limiting the increases to less than CPI
alongside a forecast on the reduction in the operating costs in real terms in the provision of lower
costs to the customers and the continuing returns to the various shareholders.
Figure 15: Requirements for Distribution Funding (Schiebahn et al., 2015)
Figure 7 above illustrates the actual as well as the forecast integrated investment funding needs
that are required in the management of the distribution systems by the type of investment.

As can be observed in the figure, there has been a continuous trend of decrease in the actual
operating spends as well as the forecasts for the past three years for TasNetworks (Schiebahn et
al., 2015). This trend is observed in the total spend that is established to decrease for the next
seven years. The trend in the reduction of the total spend may to a great extent to attributed to a
relatively significant reduction in the spending on development by TasNetworks in the recent
past years as a result of the decrease in the connections with the customers, a reduction in the
Tasmanian load as well as more efficient and effective utilization of assets.
Just like for the case of transmission requirements, still, the figure also illustrates that the
renewal that was expanded recently or the enhancement program that was done to the
transmission network hit its highest levels in 2014. The enhancement program is anticipated to
decline to a lowered level over the preceding five years. There has as well be rigorous
explorations on the reductions that are involving the operating costs as well as those that are
limiting the increases to less than CPI alongside a forecast on the reduction in the operating costs
in real terms in the provision of lower costs to the customers and the continuing returns to the
various shareholders (Shah et al., 2015).
Key Forecasts
 The forecasts from 2015-2016 are illustrated in the table 1 below through the years 2019-
20 inclusive of the probable end year result for 2014-15
 The profits that would attained before taxes was $113.7 million in 2015-16
 The returns to the government would be $179.9 million in 2015-16 inclusive of the $50
million from the equity transfers
 The total assets would be $3.3 billion

 The borrowing would be $1.8 billion in 2015-16 which is expected to increase to $1.93
billion over the anticipated time period (Singh et al., 2012)
 The operational expenditure program would cost $175.4 million in 2015-16; and
 The operational expenditure being $138.9 million in 2015-16 out of $21 million would be
savings that would be obtained from a merger
Performance Measure LEOY
30/06/2015
Forecast
30/06/2016
Forecast
30/06/2017
Forecast
30/06/2018
Forecast
30/06/2019
Forecast
30/06/2020
Profit Before Tax ($M) 149.7 113.7 126.3 93.1 81.6 91.8
Returns to Govt ($M) 157.6 179.9 123.8 129.1 100.3 94.0
Net Debt ($M) 1654 1805 1867 1910 1926 1925
Total Equity ($M) 976 920 949 991 1048 1121
Total Assets ($M) 3270 3341 3434 3531 3610 3692
Operating Expenditure ($M) 145.4 138.9 140.1 137.1 133.1 130.5
Capital Expenditure ($M) 149.7 175.4 177.3 181.3 168.9 174.1
Key Financial Ratios
Returns of Assets % 7.1 6.2 6.3 4.9 4.5 4.6
Return on Equity % 10.7 8.4 9.5 6.7 5.6 5.9
Gearing % 62.9 66.2 66.3 65.8 64.8 63.2
FFO interest cover 4.04 3.56 3.46 3.48 3.48 3.70
FFO to total debt 15.6 13.2 12.0 10.6 10.6 11.3
Borrowings ($M)
Borrowings
increase/decrease
227.0 151.8 61.2 43.8 15.2 -0.7
Closing Borrowings 1653.8 1805.7 186.9 1910.7 1925.9 1925.2
Table 3: Forecasts for TasNetworks for 2015-2016 to 2019-20 inclusive of the probable end of
year result for 2014-2015
As can be observed from the table, there is a general trend in the decline of the profits as well as
the returns to the Government across the planning period. It is expected that there would be an
increase in the profit before tax in 2016-17 owing to the lower depreciation. There are higher
returns on government in 2015-2016 as they are also inclusive of the equity returns which make
up to about $50. Returns to Government depend on an increasing ratio of dividend pay-out
across the period of planning as per the dividend policy of the Treasury.

Returns to Government
The lower returns to Government as anticipated in the future years are illustrated in figure 8 in
which they are controlled by:
 The effect of debt transfer (higher finance and debt charges) which is offset partly by a
lower operational expenditure, ideally $21 million saving obtained from the merger so far
 Lower controlled revenue including lower WACC expenditure savings which in turn
lower future revenue; and
 Higher ratio of dividend pay-out assumed with regard to the guidelines of the shareholder
which was 60 per cent in 2015-16 and later increased to 80 per cent in 2016-2017 and
finally to 90 per cent in 2017-18 and there other preceding years.
The current assessment of the enhanced future performance of TasNetworks is represented by its
performance measures and targets. The targets are more accessed and refined as the company
gains more information (Sinha & Chandel 2014). The company acknowledges it might not often
be appropriate to enhance its performance beyond the target should there be insufficient benefits
to the customers.

Figure 16: Returns to Government-forecast in comparison to the prior year (Schiebahn et al.,
2015)
Summary of the Financial Forecast
The financial projections of TasNetworks reduce the returns of shareholders over the time period
in comparison with the prior year Corporate Plans approximations. Among the main issues
which have an effect on the financial forecasts include:
 The presence of a significant reduction in the actual and forecast regulated rate of return
which could be traced back to the reducing rates of interest- The reduced rate of interests
have seen a reduction in the WACC returns on the regulated asset bases to levels that
were not anticipated (Slade & Bauen 2013).
 An increase in the ration of the dividend pay-out as per the revised guidelines on the
dividends of the shareholders which increased the dividend to 90 per cent of the net
profits for the period between 2017 and 2018 and onwards

 A reduction in the average operational and capital expenditure forecasts for the years to
come
 To be responsive to the dynamic environment and the pressures of revenue targeted by
the business of an additional five per cent reduction over the savings that have already
been attained in the operational expenditure in 2017-18 and 2019-20
 Capital expenditure forecasts that are in line with the most up to date work programs
 A total sum of $395 million in debt transfers which will be assumed by the organization
between the inception on July 1 2014 and 2016-17 (Steele & Heinzel 2011). The
borrowings will increased to a peak of $1.83 billion in the period 2019-20 from $1.5
billion. Such an additional debt may also result into an increased level of the cost of
borrowing from $12 to 14 million each year. Even with the additional debts,
TasNetworks record outburst in its key financial indicators; and
 An enhancement in the hidden ratio alongside the declining future revenue forecasts will
have effects on the ability of the organization to invest in the business as well as pay for
the down levels of debt in the immediate future.
Asset Management Information System
This section goes hand in hand with section 11.8.1 of the asset management plan of
TasNetworks. The TasNetworks Asset Management Information System is a system that brings
together the technology, processes, people as well as information that are adopted in the
provision of essential outputs that are aimed at achieved effective asset management (Strasser et
al., 2015). Among the outputs include improved performance, reduced risk, improved
compliance, effective utilizations of the available resources, and effective management of
knowledge as well as optimum investment of infrastructure.

Asset Management Information System is a technique which offers a linkage between the
various processes of asset management through the whole network of the asset life cycle as
illustrated in figure 17.
Figure 17: Asset Management Life-cycle (Schiebahn et al., 2015)
Objectives of Asset Management Information
The main objectives of Asset Management Information include helping the business in
improving and sustaining as may be deemed necessary by circumstances the overall performance
of the distribution and transmission networks so as to enable the achievement of the asset
management and organisational objectives through engaging in the following activities
(Strengers 2011):
 Improving the visibility, trust and accessibility in the asset information across the
business

 Ascertaining the collection, maintenance as well as readiness in the accessibility of
holistic asset information in the support of evidence-based asset management decision
making
 Coming up with an effective Asset Management Information improvement practices that
are in support of the business functions of the life cycle asset management in line with the
ISO 55000:2014 as well as the IM manual 2014 (Tchanche et al., 2015)
By addressing the mentioned objectives of Asset Management Information, there are expected in
significant improvements all over the following aspects:
 Minimized risks related to assets
 Improved network performance
 An optimization of the infrastructure investment (Yao et al., 2012)
 An improvement in the compliance with the regulations
 Optimization of the use of resources
 An improvement in the asset knowledge management
A successful achievement of the above mentioned objectives would facilitate easy compliance
with the requirements of the Corporate Plan and Asset Management Policy through remarkably
enhancing the integrity, quality, consistency and completeness of the asset systems, information
and processes at each of the levels (Toledo et al., 2010).
Capabilities and Portfolio of Asset Management Information
The preceding Asset Management Information plans which were a creation by Transcend and
Aurora have seen remarkable increases in the holdings of asset information across the business.
As a result, there has been highlighted the significance of robust TasNetworks Asset

Management Information to effectively as well as efficiently manage such a network asset
information holding (Valentine 2010).
Behind such plans will be delivered the following results:
Further development of:
 A significant number of asset information and associated standards and systems, refer to
the Asset Management Information Improvement Program of Work
 The process of commissioning and decommissioning of an asset, more categorically with
the updating and maintenance of the Asset Register (Yao et al., 2010)
 One Asset Management Information based on a life cycle in the management of the long
term capital and maintenance work programs for the various network assets among them
the ability to make comparison and review between baseline plans (Wang & Chen 2010)
 An integrated asset performance reporting system through the use of integrated Business
Intelligence reporting framework
 An integrated Condition Based Risk Management (CBRM) System to offer TasNetworks
with an approach to use in the renewal of decisions (Wu et al., 2010)
 The Asset Management Information portfolio of business process is ever undergoing
expansion and it is expected that these be considered in the new Asset Management
Information Improvement Program.
Asset Management Information Future Strategies

Among the future strategies in the management of Asset Management Information are inclusive
of but not limited to:
 Development and extension of the asset information management as well as the
capabilities of analysis across the business to allow effective evidence based decision
making (Wheelen & Hunger 2011)
 Embedment of the current systems, application, tools and processes across all the
businesses to allow them to be fully utilized
 A strategy of data management to sort the remaining holdings of asset information and to
enable expansion of the CBRM system
 Management of the implementation of the ERP enterprise asset management to ascertain
that the works and network asset management functions go on in supporting the
operations of business asset management (Wilkinson 2011)
 Continually work closely with the various segments of the business to comprehend the
requirements of emerging and future asset management and ascertain sound governance
over the development and utilization of Asset Management Information.
Findings/Outcomes
The findings of the study can be summarized as below:
 Fujitsu solution and the interval package function are applicable in the benchmarking of
the processes of asset management in large scale PV solar power Plants in the energy
transmission and distribution sector.
 The various departments that need to be taken into consideration to establish a successful
management plan for the large scale solar scale PV solar power Plants include:
 Stakeholders Requirements

 Asset Management Information System
 Timing and Delivery of Work Programs
 Asset Management Information System
CHAPTER 6: CONCLUSION & RECOMMNDATIONS
Assets are items that an organization considers to be very valuable and hence their use should be
done in such a way that it profits the organization to the highest standards possible. Fujitsu
solution and the interval package function are applicable in the benchmarking of the processes of
asset management in large scale PV solar power Plants in the energy transmission and

distribution sector. The study was carried across two organizations, one within the country and
another in Japan to establish which of them was has the best practice that would be adopted as
the asset management plan.
The study mainly aimed at enhancing the understanding of how to perform an asset management
in a systematic way in a bid to improve the performance of such organizations. Asset
management in the two organizations has two main aspects: provision of high quality services as
well as cost effective services. With regard to high quality services, assets target at helping the
organisation in the provision of quality service to the various users and customer and hence the
assets must be maintained and managed in such a way that the quality is maintained a notch
higher. In terms of the cost effectiveness aspect, lowering of the operational cost of the
organization should be immunized as possible in order to enable the organization make more
profit.
It is thus recommended that the Fujitsu solution and the interval package function are adopted as
the benchmarking of the processes of asset management in large scale PV solar power Plants in
the energy transmission and distribution sector. In adopting the strategies, note should be taken
to ensure that each of the departments including the asset information system department, clients
requirements among others are carefully considered so as to ensure that the objectives of the
asset management plan are met.
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