IEC/TC 123 - Management of network assets in power systems
Standardisation to deliver, in co-operation with other TC/SCs and international organizations, common methods and guidelines for coordinated lifetime management of network assets in power systems to support good asset management. In addition this may include the development of new methods and guidelines. Excluded: - Generation business assets - The scopes of other IEC Technical Committees, such as TC 8, TC 56 and TC 57.
Management of network assets in power systems
Standardisation to deliver, in co-operation with other TC/SCs and international organizations, common methods and guidelines for coordinated lifetime management of network assets in power systems to support good asset management. In addition this may include the development of new methods and guidelines. Excluded: - Generation business assets - The scopes of other IEC Technical Committees, such as TC 8, TC 56 and TC 57.
General Information
This document specifies requirements, recommendations, and examples for implementing a risk-informed decision-making (RIDM) process for managing existing network assets in power systems. The intended audience concerns power network organizations' stakeholders and decision makers, such as asset managers, risk managers, regulators, asset owners, and service providers. The RIDM process details the steps to ensure transparency, consistency, and traceability of the decision by:
– specifying the risk decision-making context depending on asset management objectives, available knowledge, and risk stakeholders' concerns;
– identifying the appropriate risk management strategies and the knowledge supporting the analyses;
– detailing the essential steps for conducting a risk analysis and justifying investments, regardless of the calculation methods used;
– providing essential information and warnings to decision makers;
– implementing performance evaluation and continuous improvement.
The document is based on the asset management principles from ISO 55000:2024 [1] and is aligned with ISO 55001:2024 [2]. Compliance with the requirements of this document is independent of compliance with ISO 55001:2024 [2].
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Frequently Asked Questions
IEC/TC 123 is a Technical Committee within CLC. It is named "Management of network assets in power systems" and is responsible for: Standardisation to deliver, in co-operation with other TC/SCs and international organizations, common methods and guidelines for coordinated lifetime management of network assets in power systems to support good asset management. In addition this may include the development of new methods and guidelines. Excluded: - Generation business assets - The scopes of other IEC Technical Committees, such as TC 8, TC 56 and TC 57. This committee has published 1 standards.
IEC/TC 123 develops CLC standards in the area of Information technology. The scope of work includes: Standardisation to deliver, in co-operation with other TC/SCs and international organizations, common methods and guidelines for coordinated lifetime management of network assets in power systems to support good asset management. In addition this may include the development of new methods and guidelines. Excluded: - Generation business assets - The scopes of other IEC Technical Committees, such as TC 8, TC 56 and TC 57. Currently, there are 1 published standards from this technical committee.
CLC is a standardization organization that develops and publishes standards to support industry, commerce, and regulatory requirements.
A Technical Committee (TC) in CLC is a group of experts responsible for developing international standards in a specific technical area. TCs are composed of national member body delegates and work through consensus to create standards that meet global industry needs. Each TC may have subcommittees (SCs) and working groups (WGs) for specialized topics.