Fingrid Top Performer in International Asset Management Study
Fingrid has topped the results of the most recent International Asset Management Study (ITAMS), which evaluates the tactical level of asset management in national grid companies. Fingrid has placed among the top transmission system operators in every cycle of the study, of which there have been five since 2010. Fingrid’s success arises from its continuous and long-sighted operational development.
ITAMS is an extensive survey of transmission system operators’ asset management operating models, of the completeness and maturity of their processes, and of information management. Benchmarking began in 2010 and is carried out every other year. Fingrid’s ranking has been close to the top every time.
The company’s success arises from continuous and long-sighted operational development.
“We apply the principle of continuous improvement to our entire process in Adequacy of transmission system. The results of these benchmarking studies are among the tools we use for development,” explains Business Controller Henrik Gummerus from Fingrid’s Asset Management unit.
The focus of the most recent cycle was on Information Management and Enabling Technology, and their significance within asset management. Fingrid’s recent efforts within utilising digitalisation were reflected in the company’s excellent performance in the study.
Change management implementation as an area of development
Certain suggestions for improvement always arise from ITAMS. The central area of development identified in this cycle was change management, which the study broke down into five elements: vision, competences, incentives, resources and action planning.
“In some cases a shortage of human resources can cause bottlenecks for the implementation of changes,” Gummerus explains.
Based on the improvement suggestions identified by previous cycles of the study, Fingrid has already enhanced its risk management and procurement processes, among others. It has also been able to capitalise on the benefits brought by standardisation.
This cycle of ITAMS included national grid companies from 11 countries: Norway, Scotland, Finland, Slovenia, Italy, the Netherlands, Germany, Lithuania, Australia, United Arab Emirates/Abu Dhabi and Oman.
Henrik Gummerus, Fingrid, henrik.gummerus[at]fingrid.fi