Network Asset Management

Network asset management is practiced by companies in the energy sector. Their aim is the optimum use of the available resources. Strategic planning for minimization of resources wastage and provision of timely intervention are watchwords of any network asset management program.

In a fiercely competitive world, pursuance of network asset management policies give energy companies the competitive edge. Economic resources are scarce. They can also be put to multiple uses. This implies that there is an opportunity cost of using a resource. So when a company finally invests resources on a definite project, they need to see to it that it is efficiently managed and not wasted in any way.
Network asset management policies promote the following:
Efficiency of resource utilization
Analysis of the process of resource utilization
Availability of the necessary information
Analysis of the involved network

These factors are some of the key determinants of a firm’s ability of garnering more profit.

Network asset management policies promote the following:
Efficiency of resource utilization
Analysis of the process of resource utilization
Availability of the necessary information
Analysis of the involved network
These factors are some of the key determinants of a firm’s ability of garnering more profit.
Network Asset Management Policies
Network asset management policies are formulated and executed by the top rung management of the energy companies. They assist in developing modules, in putting plans for the future, in providing important official statistics at the click of a mouse and also provide guidelines for efficient and timely decision making.

Nowadays, asset management practices employ asset management softwares. They essentially help companies to effectively manage their resources. Data maintenance procedures are made simple and effective. Asset maintenance and asset utilization receive prime importance here
Effects of Market Deregulation on Network Asset Management
Network asset management has become all the more relevant with the ensuing market deregulations. Market deregulation essentially means opening up of the market on all fronts. Regulatory structures become lax and it is a free for all. Basically, for energy companies , the operating environment itself has changed due to market deregulations . Survival in an open market needs a much better planning on part of the companies. Their asset management techniques needs to be fine tuned and streamlined. The information system of these energy companies needs to be capable of network maintenance and analysis. This enables the energy companies to effectively communicate with their customers, the sub contractors in the field and also with the authorities.
Solutions for Network Management
Solutions for network management involve development of tools for the job of networking. The tools include the following:
Planning for the execution of the job
Network calculation
Documentation
Reporting
Contract management and the like

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