Change is the only constant. Yes, it’s a cliché. But old clichés tend to bear some element of truth.
How do organizations plan strategies of resiliency in an inherently unstable environment? These days, an organization’s ability to withstand and quickly recover from a wide range of disruptive events is key to both surviving and thriving.
How do you do more with less, as challenges continue to rise? How do you bridge the gap between high-level resiliency and physical disaster preparedness (i.e., optimizing your capital investment strategies versus ensuring your substations are watertight)?
Building resiliency in utilities is crucial to ensuring energy infrastructure can continue providing reliable power to customers—no matter the proverbial weather.
Building resiliency means building the ability to absorb and adapt in a changing environment, and is integral for the following reasons:
As the industry continues to work towards decarbonization, the above-mentioned reasons for prioritizing resiliency become all the more important. Electrification gives a level of flexibility by enabling the integration of diverse sources (i.e., renewables, nuclear, natural gas). Ultimately, reducing our dependence on fossil fuels helps to reduce price volatility (over the long-term) and supply chain disruptions alike, improving overall resiliency.
Resilient organizations anticipate and respond to both threats and opportunities which arise from sudden or gradual changes in their internal and external contexts.
Ultimately, building resilient long-term investment strategies means building an awareness of factors that affect your operations—regulatory policies, economic conditions, technological advancements, environmental and social concerns, and customer demands, to name a few.
One of the most effective ways of accomplishing meaningful organizational resiliency is by optimizing and future-proofing your capital investment strategy with technology that harnesses ‘what-if’ scenario planning and predictive analytics to facilitate strategic decision making. With the right asset management tools and approaches, powerful resilience is indeed at your fingertips.
DIREXYON’s AIP module was designed to help utilities achieve that ideal balance—the sweet spot between risk, cost, and performance.