Project Description
NiSource, one of the largest regulated utility companies in the United States, provides electric distribution, generation, and transmission services to nearly 500,000 Northern Indiana Public Service Company electric customers. The company selected Sargent & Lundy to provide consulting services to help develop their asset management plans to improve the decision-making process, guide optimal resource utilization, standardize risk management across asset classes, facilitate life-cycle management, define roles and responsibilities, create accountability, support financial planning, and ultimately achieve strategic alignment across NiSource’s asset portfolio.
Project Scope
Sargent & Lundy supported NiSource’s electric asset and risk management team in developing asset management programs for different asset classes, including transmission and distribution lines, T&D substations, meters and services, and generation.
Sargent & Lundy completed the following tasks.
- Performed a third-party asset risk registers review for:
- Impact criteria.
- Risk ranking.
- Threat type.
- Outcome.
- Conducted stakeholder interviews to:
- Define organizational asset management roles and responsibilities.
- Assess effective asset health.
- Perform risk register scoring.
- Define capital and operating and maintenance planning processes.
- Formulated asset management plan report encompassing:
- Asset descriptions.
- Asset health insights.
- Asset management strategy.
- Risk assessment and prioritization.
- Mitigation measures.
- Data assessment.
- Performance management.
- Asset ownership.
- Assisted developing NiSource’s guidelines for annual electric risk management plan balancing, including a process to monitor and improve the plan for current and future management practices.
Read more about our consulting & planning services.
