Managing aging assets is one of the most critical issues facing utilities struggling with competing priorities, constrained resources, a challenging regulatory environment and the difficulty of determining which projects, maintenance or asset replacement tasks are really worthwhile and when. The newly published ISO 55000 “Standard on Asset Management” provides an excellent framework within which to manage assets proactively and create organizational value. See how maintenance intervals and condition monitoring solutions can be cost/risk optimized, asset modifications or replacements can be optimally timed, or stockholdings of critical spares justified.