Management of network assets in power systems - Management aspects

IEC TS 63224:2025 specifies management aspects of management of network assets in power systems.
This document follows the same clause structure as ISO 55001:2024, and each clause has similar subclauses. However, the information presented in this document is related to the specific context of power network organizations. Where the ISO requirements are considered to be generic, no additional information is included in this document.

General Information

Status
Published
Publication Date
15-May-2025
Current Stage
PPUB - Publication issued
Start Date
16-May-2025
Completion Date
30-May-2025
Ref Project
Technical specification
IEC TS 63224:2025 - Management of network assets in power systems - Management aspects Released:16. 05. 2025 Isbn:9782832704042
English language
38 pages
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Standards Content (Sample)


IEC TS 63224 ®
Edition 1.0 2025-05
TECHNICAL
SPECIFICATION
Management of network assets in power systems – Management aspects
ICS 29.020 ISBN 978-2-8327-0404-2
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– 2 – IEC TS 63224:2025 © IEC 2025
CONTENTS
FOREWORD . 5
INTRODUCTION . 7
1 Scope . 11
2 Normative references . 12
3 Terms, definitions and abbreviated terms . 12
3.1 Terms and definitions . 12
3.2 Abbreviated terms. 12
4 ISO 55001:2024, Clause 4: Context of the organization . 14
4.1 Understanding the organization and its context . 14
4.1.1 Explanation . 14
4.1.2 Typical examples and case studies on external and internal issues . 14
4.1.3 Further reading on the organization and its context . 15
4.2 Understanding the needs and expectations of stakeholders . 15
4.2.1 Explanation . 15
4.2.2 Typical stakeholders and their expectations for T&D companies . 16
4.2.3 Further reading on the stakeholders and their expectations . 17
4.3 Determining the scope of the asset management system . 18
4.3.1 Explanation . 18
4.3.2 Typical examples and case studies on the scope of AMS . 18
4.3.3 Further reading on the scope of AMS . 18
4.4 Asset management system . 18
4.4.1 Explanation . 18
4.4.2 Typical examples and case studies on the AMS . 18
4.4.3 Further reading on AMS . 18
4.5 Asset management decision-making . 18
4.5.1 Explanation . 18
4.5.2 Typical examples and case studies on decision-making . 19
5 ISO 55001:2024, Clause 5: Leadership . 19
5.1 Leadership and commitment . 19
5.1.1 Explanation . 19
5.1.2 Typical examples and case studies on leadership. 19
5.1.3 Further reading on leadership . 19
5.2 Asset management policy . 19
5.2.1 Explanation . 19
5.2.2 Typical examples and case studies on policy . 19
5.2.3 Further reading on policy . 20
5.3 Roles, responsibilities and authorities . 20
5.3.1 Explanation . 20
5.3.2 Typical examples and case studies on organizational roles and
responsibilities. 20
6 ISO 55001:2024, Clause 6: Planning . 20
6.1 Actions to address risks and opportunities . 20
6.1.1 Explanation . 20
6.1.2 Examples and case studies on actions to address risks and
opportunities . 20
6.1.3 Further readings on actions to address risks and opportunities . 20
6.2 Asset management objectives and planning to achieve them . 20

6.2.1 Explanation . 20
6.2.2 Typical examples and case studies on objectives and the SAMP . 21
6.2.3 Further reading on objectives and the SAMP . 22
6.3 Planning of changes . 22
7 ISO 55001:2024, Clause 7: Support . 23
7.1 Resources . 23
7.1.1 Explanation . 23
7.1.2 Typical examples and case studies on resources . 23
7.1.3 Further reading on resources . 24
7.2 Competence . 24
7.2.1 Explanation . 24
7.2.2 Typical examples and case studies on competences . 24
7.2.3 Further reading on competence . 24
7.3 Awareness . 24
7.3.1 Explanation . 24
7.3.2 Typical examples and case studies on awareness . 25
7.4 Communication . 25
7.4.1 Explanation . 25
7.4.2 Typical examples and case studies on communication . 25
7.5 Documented information . 25
7.6 Data and information . 25
7.6.1 Explanation . 25
7.6.2 Information and monitoring . 25
7.6.3 Network and asset related information . 25
7.6.4 Further readings on information . 25
7.7 Knowledge . 25
8 ISO 55001:2024, Clause 8: Operation . 26
8.1 Operation planning and control including life cycle management . 26
8.1.1 Explanation . 26
8.1.2 Typical examples and case studies on operation . 26
8.1.3 Further readings on operation . 26
8.2 Control of change . 26
8.2.1 Explanation . 26
8.2.2 Typical examples and case studies on management of change . 26
8.3 Externally provided processes, products, technologies and services . 26
8.3.1 Explanation . 26
8.3.2 Typical examples and case studies on outsourcing . 26
9 ISO 55001:2024, Clause 9: Performance evaluation . 27
9.1 Monitoring, measurement, analysis and evaluation . 27
9.1.1 Explanation . 27
9.1.2 Typical examples and case studies on monitoring . 27
9.1.3 Further reading on monitoring . 28
9.2 Internal audit . 28
9.2.1 Explanation . 28
9.2.2 Typical examples and case studies on internal audit . 28
9.3 Management review . 29
9.3.1 Explanation . 29
9.3.2 Typical examples and case studies on management review . 29

– 4 – IEC TS 63224:2025 © IEC 2025
10 ISO 55001:2024, Clause 10: Improvement . 29
10.1 Continual improvement . 29
10.1.1 Explanation . 29
10.1.2 Typical examples and case studies on continual improvement . 29
10.2 Nonconformity and corrective action . 29
10.2.1 Explanation . 29
10.2.2 Typical examples and case studies on nonconformity and corrective
action . 29
10.3 Predictive action . 29
10.3.1 Explanation . 29
10.3.2 Typical examples and case studies on preventive action . 29
Annex A (informative) Further readings . 30
A.1 ISO 55001:2024, Clause 4: Context of the organization . 30
A.1.1 Subclause 4.1 of ISO 55001:2024 Understanding the organization and
its context . 30
A.1.2 Subclause 4.2 of ISO 55001:2024 Understanding the needs and
expectations of stakeholders . 30
A.1.3 Subclause 4.3 of ISO 55001:2024 Determining the scope of the asset
management system . 31
A.1.4 Subclause 4.4 of ISO 55001:2024 Asset management system . 31
A.2 ISO 55001:2024, Clause 5: Leadership . 32
A.2.1 Subclause 5.1 of ISO 55001:2024 Leadership and commitment . 32
A.2.2 Subclause 5.2 of ISO 55001:2024 Asset management policy . 32
A.3 ISO 55001:2024, Clause 6: Planning . 32
A.4 ISO 55001:2024, Clause 7: Support . 33
A.4.1 Subclause 7.1 of ISO 55001:2024: Resources . 33
A.4.2 Subclause 7.2 of ISO 55001:2024: Competence . 34
A.4.3 Subclause 7.6 of ISO 55001:2024: Data and information . 34
A.5 ISO 55001:2024, Clause 8: Operation . 35
A.6 ISO 55001:2024, Clause 9: Performance evaluation . 35
Bibliography . 36

Figure 1 – Scope of IEC 63223 series (under development) and this document
(IEC TS 63224) . 7

Table 1 – Scope of this document (IEC TS 63224) . 8
Table 2 – Case studies in this document . 11
Table 3 – External issues . 14
Table 4 – Internal issues . 15
Table 5 – Stakeholders . 16
Table 6 – Stakeholder expectations . 17
Table 7 – Sample of asset management policy . 19
Table 8 – Objectives . 21
Table 9 – Sample table of contents of a SAMP . 21
Table 10 – Sample table of resources . 23
Table 11 – Sample table of resources (people) . 23
Table 12 – Competence for asset manager . 24
Table 13 – Monitoring items. 27

INTERNATIONAL ELECTROTECHNICAL COMMISSION
____________
MANAGEMENT OF NETWORK ASSETS IN POWER SYSTEMS –
MANAGEMENT ASPECTS
FOREWORD
1) The International Electrotechnical Commission (IEC) is a worldwide organization for standardization comprising
all national electrotechnical committees (IEC National Committees). The object of IEC is to promote international
co-operation on all questions concerning standardization in the electrical and electronic fields. To this end and
in addition to other activities, IEC publishes International Standards, Technical Specifications, Technical Reports,
Publicly Available Specifications (PAS) and Guides (hereafter referred to as “IEC Publication(s)”). Their
preparation is entrusted to technical committees; any IEC National Committee interested in the subject dealt with
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with the IEC also participate in this preparation. IEC collaborates closely with the International Organization for
Standardization (ISO) in accordance with conditions determined by agreement between the two organizations.
2) The formal decisions or agreements of IEC on technical matters express, as nearly as possible, an international
consensus of opinion on the relevant subjects since each technical committee has representation from all
interested IEC National Committees.
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expenses arising out of the publication, use of, or reliance upon, this IEC Publication or any other IEC
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8) Attention is drawn to the Normative references cited in this publication. Use of the referenced publications is
indispensable for the correct application of this publication.
9) IEC draws attention to the possibility that the implementation of this document may involve the use of (a)
patent(s). IEC takes no position concerning the evidence, validity or applicability of any claimed patent rights in
respect thereof. As of the date of publication of this document, IEC had not received notice of (a) patent(s), which
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the latest information, which may be obtained from the patent database available at https://patents.iec.ch. IEC
shall not be held responsible for identifying any or all such patent rights.
IEC TS 63224 has been prepared by IEC technical committee 123: Management of network
assets in power systems. It is a Technical Specification.
This Technical Specification is to be used in conjunction with ISO 55001:2024.
The text of this Technical Specification is based on the following documents:
Draft Report on voting
123/112/DTS 123/116/RVDTS
Full information on the voting for its approval can be found in the report on voting indicated in
the above table.
The language used for the development of this Technical Specification is English.

– 6 – IEC TS 63224:2025 © IEC 2025
This document was drafted in accordance with ISO/IEC Directives, Part 2, and developed in
accordance with ISO/IEC Directives, Part 1 and ISO/IEC Directives, IEC Supplement, available
at www.iec.ch/members_experts/refdocs. The main document types developed by IEC are
described in greater detail at www.iec.ch/publications.
The committee has decided that the contents of this document will remain unchanged until the
stability date indicated on the IEC website under webstore.iec.ch in the data related to the
specific document. At this date, the document will be
• reconfirmed,
• withdrawn, or
• revised.
INTRODUCTION
The scope of the IEC 63223 series (under development) , related terminology IEC 60050-693
(under development) , and IEC TS 63224 (this document) is to formulate standards to deliver,
in co-operation with other technical committees or sub-committees and international
organizations, common methods and guidelines for coordinated lifetime management of
network assets in power systems to support good asset management.
Figure 1 shows an overview of the entire asset management process, and within this the scope
of IEC 63223 series. Overall asset management is handled by ISO, published as the ISO 55000
series: ISO 55000, ISO 55001, and related documents [1] [2] [3] [4], and each asset type is
handled by the appropriate product standards. IEC 63223 series and this document cover the
section in the middle, handling management of cross-asset matters. Other cross-asset standard
series handle matters other than asset management, such as power system aspects,
information and systems, and safety and insulation coordination.
It is critical to distinguish “asset management” and “managing assets”. “Asset management” in
this document means “coordinated activity of an organization to realize value from assets” ,
according to ISO 55000:2024, 3.2.1. Managing assets focuses on lifecycle activities and asset
care, that is, availability, reliability, dependability and safety.

Asset management: coordinated activity of an organization to realize value from assets.
Asset management system: Set of interrelated or interacting elements.
Asset portfolio: Assets that are within the scope of the asset management system.
Figure 1 – Scope of IEC 63223 series (under development)
and this document (IEC TS 63224)
___________
Under preparation. Stage at the time of publication: IEC CD 63223-1:2024 and IEC CD 63223-2:2024.
Under preparation. Stage at the time of publication: IEC FDIS 60050-693:2024.
Numbers in square brackets refer to the Bibliography.

– 8 – IEC TS 63224:2025 © IEC 2025
The scope of the IEC 63223 series and this document covers asset management, asset
management system and asset portfolio activities where specific guidance for power systems
is considered necessary, excluding asset type specific matters (such as management of
transformers, switchgears, cables, etc.). This scope can be classified into two parts:
• management aspects;
• asset aspects.
This document deals with informative case studies for management aspects. The ISO 55000
series contains normative requirements for management aspects. The IEC 63223 series defines
asset aspects, including terminology. See also IEC 60050-693 for terminology across IEC. This
is shown in Table 1.
Table 1 – Scope of this document (IEC TS 63224)
Asset aspects for power network Management aspects for power
AM network AM
Case studies IEC 63223 series IEC TS 63224
(this document)
Requirements IEC 63223 series ISO 55001
IEC 60050-693
This document complements the guidance available for implementing an asset management
system as described in ISO 55001 , with a focus on power network systems. Guides have been
previously presented in several documents including:
– ISO 55002 [1].
– CIGRE Technical Brochure (TB) 787 “ISO series 55000 standards: Implementation and
information guidelines for utilities” [5].
– Several documents published by asset management experts, such as GFMAM, IAM, AMC,
JAAM, etc.
– “Asset management and its importance for electrical power utilities”, tutorial in CIGRE
Canada [6].
The most popular management system standard adopted by power network organizations
around the world is ISO 55001. This document therefore follows a structure similar to ISO’s
management system standards.
ISO management system standards typically consist of at least three documents: in the case of
asset management, ISO 55000 outlines why one needs a management system and its benefits,
whereas ISO 55001 focuses on what processes and systems an organization should put in
place to be recognized as competent in asset management. As ISO management standards are
industry agnostic, they are generic, leading to the often-heard criticism that the standard falls
short on practical implementation advice – i.e. how to deploy asset management in a specific
environment. This has led ISO to issue a new version of ISO 55002 [1] in November 2018,
offering better and more comprehensive guidance on how to interpret the requirements
mentioned in ISO 55001. In 2024 ISO issued revised versions of ISO 55000 and ISO 55001,
and published two new standards focusing on people (ISO 55012 [3]) and data (ISO 55013 [4])
in asset management.
a) Introduction to ISO 55001:2024
All ISO management system standards share a common core and are all built on the popular
plan-do-check-act model. This means that all these standards cover the same topics, namely:
– context
– leadership
– planning
– support
– operation
– performance evaluation
– improvement
These topics form the main clauses of a management system standard. The main highlights of
these clauses in the context of asset management (i.e. ISO 55001:2024) are described below.
Clause 4 – context: requires the organization to understand its internal and external context,
to take into consideration the needs and expectations of its stakeholders and to
therefore align its asset management objectives to its overall organizational
strategic objectives. It also requires the organization to define the scope of its
asset management system (AMS) – a power network might for instance decide to
limit the scope to one asset class, or to one region only, before adopting the
management system across its entire operations.
Clause 5 – leadership: requires the leadership team of the organization to show its
commitment to asset management by putting in place the necessary resources,
by developing an asset management policy that everybody in the organization
must understand and follow, and by giving people in asset management roles the
necessary authority and support to perform their functions efficiently.
Clause 6 – planning: requires that asset management objectives be clear and plans be put in
place to achieve these objectives, including the development of a decision-making
framework and a clear definition of “value”, and align with other functions in the
organization such as finance, human resources, etc. Clause 6 requires the
development and documentation of a strategic asset management plan (SAMP),
which will serve as the reference guide for most asset management activities, will
tie the asset management objectives back to the overall organization’s objectives
and ensure the organization has considered the risks and opportunities related to
this plan.
Clause 7 – support: requires that the necessary resources are put in place, that the people
involved in asset management are competent, that the rest of the organization is
aware of its AMS and plans, and that the appropriate communication mechanisms
are available. These are basic prerequisites for the deployment of a successful
asset management system.
It also highlights the need to identify the information requirements for assets, the
asset management function and the AMS. This might trigger the need for specific
information management systems (for instance, an asset register or a capital
planning system). Information might need to be documented, not only for legal or
regulatory purposes, but also to conform to the management system (e.g. the need
for a SAMP and for a written asset management policy).
Clause 8 – operation: requires the necessary processes and control mechanisms be put in
place to execute the asset management plans. It also addresses the importance
of change management, which might be required to achieve the asset
management objectives. Finally, it requires the organization to assess and control
the risks of any externally provided processes, products, technologies and
services.
– 10 – IEC TS 63224:2025 © IEC 2025
Clause 9 – performance evaluation: requires an organization to monitor, measure, and
analyse the performance of its assets, of its asset management function, and of
the AMS itself – in line with the “plan-do-check-act” philosophy of
ISO management systems. Performance information should be reviewed regularly
by management which should also evaluate any risks and opportunities for
improvement.
Clause 10 – improvement: specifies that in order to close the plan-do-check-act circle, the
organization should engage in continuous improvement of its processes and AMS.
Importantly, it should have processes in place to address nonconformities (which
include asset failures and non-fulfilment of requirements) and predict the need for
decisions to prevent nonconformities and ensure optimal intervention points where
applicable.
Readers are expected to understand the terms and contents of the ISO 55000 series.
b) Structure of this document
The information presented for each subclause follows the structure shown below:
1) Explanation
– A short explanation of ISO 55001:2024 requirements. Please refer to ISO 55001:2024
for the full text of each clause. IEC TS 63224 (this document) only highlights the key
elements of each clause.
2) Typical examples, case studies
– A summary of collected samples from various information sources. Typical power
network related examples are shown. This list is not exhaustive.
3) Further reading
– Reference names and descriptions of what is written in the references. The list here is
not exhaustive.
MANAGEMENT OF NETWORK ASSETS IN POWER SYSTEMS –
MANAGEMENT ASPECTS
1 Scope
This document specifies management aspects of management of network assets in power
systems.
This document follows the same clause structure as ISO 55001:2024, and each clause has
similar subclauses. However, the information presented in this document is related to the
specific context of power network organizations. Where the ISO requirements are considered
to be generic, no additional information is included in this document, as shown in Table 2.
Table 2 – Case studies in this document

Clause/subclause of ISO 55001:2024 Included

4 Context of the organization
4.1 Understanding the organization and its context Y
4.2 Understanding the needs and expectations of stakeholders Y
4.3 Determining the scope of the asset management system Y
4.4 Asset management system Y
4.5 Asset management decision-making N

5 Leadership
5.1 Leadership and commitment Y
5.2 Asset management policy Y
5.3 Roles, responsibilities and authorities N

6 Planning
6.1 Actions to address risks and opportunities N
6.2 Asset management objectives and planning to achieve them Y
6.3 Planning of changes N
7 Support
7.1 Resources Y
7.2 Competence Y
7.3 Awareness N
7.4 Communication N
7.5 Documented information N
7.6 Data and information Y
7.7 Knowledge N
8 Operation
8.1 Operation planning and control including life cycle management Y
8.2 Control of change N
8.3 Externally provided processes, products, technologies and services N

9 Performance evaluation
9.1 Monitoring, measurement, analysis and evaluation Y
9.2 Internal audit N
– 12 – IEC TS 63224:2025 © IEC 2025

Clause/subclause of ISO 55001:2024 Included
9.3 Management review N
10 Improvement
10.1 Continual improvement N
10.2 Nonconformity and corrective action N
10.3 Predictive action N
2 Normative references
The following documents are referred to in the text in such a way that some or all of their content
constitutes requirements of this document. For dated references, only the edition cited applies.
For undated references, the latest edition of the referenced document (including any
amendments) applies.
IEC 60050-693, Management of network assets in power systems – Terminology
ISO 55000:2024, Asset management – Vocabulary, overview and principles
ISO 55001:2024, Asset management – Asset management system – Requirements
3 Terms, definitions and abbreviated terms
3.1 Terms and definitions
For the purposes of this document, the terms and definitions given in IEC 60050-693,
ISO 55000 and ISO 55001 apply.
ISO and IEC maintain terminology databases for use in standardization at the following
addresses:
• IEC Electropedia: available at https://www.electropedia.org/
• ISO Online browsing platform: available at https://www.iso.org/obp
3.2 Abbreviated terms
ACRONYMS DESCRIPTION
AIM Asset and investment manager
AIP Asset investment planning
AM Asset management
AMC Asset Management Council (AU)
AMP Asset management plan
AMS Asset management system
APM Asset performance management
BPA Bonneville Power Administration
CEER The Council of European Energy Regulators
The International Council on Large Electric Systems
CIGRE
(in French) Conseil international des grands réseaux électriques
___________
Under preparation. Stage at the time of publication: IEC FDIS 60050-693:2024.

ACRONYMS DESCRIPTION
International Conference on Electricity Distribution
CIRED
(in French) Centre international de recherche sur l'environnement et le développement
CBM Condition based maintenance
CM Corrective maintenance
DNO Distribution network operator (used in GB)
DR Demand response
DSO Distribution system operator
EAM Enterprise asset management
ENTSO-E European Network of Transmission System Operators for Electricity
FME(C)A Failure mode and effects (criticality) analysis
ERP Enterprise resource planning
EHV Extra high voltage
EV Electric vehicle
EU European Union
GB Great Britain
GFMAM The Global Forum on Maintenance & Asset Management
HR Human resources
HV High voltage
IAM Institute of Asset Management
IEC International Electrotechnical Commission
IEEE Institute of Electrical and Electronics Engineers
IEV International Electrotechnical Vocabulary, IEC terminology list, also called electropedia
IS International standard (one type of IEC deliverable)
ISO International Organization for Standardization
IT, ICT Information (and communication) technology
JAAM Japan Association of Asset Management
KPI Key performance indicator
LV Low voltage
MV Medium voltage
NGET National Grid Electricity Transmission (UK TSO)
NGO Non-Governmental Organization
NEO National Electricity Objective (AU)
NERC North American Electric Reliability Corporation
NP New work item proposal (in IEC)
OCCTO Organization for Cross-regional Coordination of Transmission Operators, JAPAN
OFGEM Office of Gas and Electricity Markets, GB regulator
Publicly Available Specifications (in IEC)
PAS
Publicly Available Specifications (in UK, PAS 55 is the latter)
RES Renewable energy system
RIIO Revenue = Incentives + Innovation + Outputs, GB regulation
RCM Reliability centered maintenance
ROA Return on assets
ROI Return on investments
RTE Réseau de Transport d’Electricité (French TSO)

– 14 – IEC TS 63224:2025 © IEC 2025
ACRONYMS DESCRIPTION
SAIFI System average interruption frequency index
SAIDI System average interruption duration index
SAMP Strategic asset management plan
SASB Sustainability Accounting Standards Board
SC Study committee (in CIGRE), sub-committee (in IEC)
SF
Sulfur hexafluoride (one of insulation material)
SPEN SP Electricity Network (UK TSO&DNO)
TB Technical brochure, published by CIGRE
TBM Time based maintenance
Technical committee (committee in IEC, in charge of making standards. Different from
TC
CIGRE TC)
TR Technical report (one type of IEC deliverable)
TS Technical specification (one type of IEC deliverable)
TSO Transmission system operator
VPP Virtual power plant
WG Working group
4 ISO 55001:2024, Clause 4: Context of the organization
4.1 Understanding the organization and its context
4.1.1 Explanation
A key requirement when creating an AMS is to understand the required outcomes for the
organization and the external and internal drivers which have the potential to affect these
outcomes, including climate change. While most organizations will face similar drivers in terms
of productivity, safety, sustainability etc., there are some drivers which are particular to power
networks due to the manner in which they are operated and scrutinised. Some examples of the
issues affecting network operators are presented in 4.1.2 and 4.1.3.
4.1.2 Typical examples and case studies on external and internal issues
Table 3 and Table 4 outline typical external and internal issues that power network
organizations might consider.
1) External issues
Table 3 – External issues
Social and cultural Political Legal and regulatory
– Expected levels of demand and – Varying political stances – Net zero regulations
generation around nuclear and coal
– Emission controls and prices
– Demographic shifts and effect – Permitting process for (e.g. CO price)
on demand forecasts construction and operation
– Performance based regulation,
– Obligation to serve
balancing risk, cost and
performance
– Demand for higher reliability
– Increasingly rigid budget
– Environmental, social and
justification
governance pressure
Financial and economic Technological Environmental
– Access to capital – Smart grid, complicated system – Global warming (RES, EV,
control with distributed energy electric heating forecast)
– Inflation rates and discount
resources
rates – Extreme weather events
– Planned obsolescence
– Electrification
– Possible new technology
Resilience and security Resource, supplier and workforce
– Resilience against extreme weather and climate – Natural resources, such as copper
change
– Supply chain management (disruption)
– Physical security
– Manufacturer support and its prospects for the
– Cyber security assets
– Workforce environment, ageing and skills

2) Internal issues
Table 4 – Internal issues
Governance Policies and objectives Organizational structure
– Ownership model – Risk tolerance – Where does AM fit in the
organization?
– Auditing requirements – Stakeholder engagement
– Authority level of AM
– Financial conditions
Assets Capabilities Systems and processes
– Ageing distribution – Competence and resources for – Maturity in AM
AM
– Condition – Certification requirements
– Competence and resources for
– Failure and replacement – Applicable standards
organization
records
– Embedding improvements in
– Human resources (age
– Asset data quality business as usual
distribution and its forecast)
– Criticality, and network
– Employee demographics
redundancy
– Maintenance records
4.1.3 Further reading on the organization and its context
See A.1.1.
4.2 Understanding the needs and expectations of stakeholders
4.2.1 Explanation
A stakeholder is anyone who can influence the organization and is affected by the outcome of
business decisions (see ISO 55000), either directly or indirectly. Stakeholders for power
network organizations will depend on the context of the organization, but for some organizations
there will be stakeholders with very specific needs, particularly in relation to regulation,
generation and low carbon transition. Some examples of key stakeholders and their
expectations for power networks are shown in Table 5 and Table 6.

– 16 – IEC TS 63224:2025 © IEC 2025
4.2.2 Typical stakeholders and their expectations for T&D companies
Table 5 outlines typical stakeholders that power network organizations might have to consider
when developing their asset management plans.
Table 5 – Stakeholders
Government Financial Customers
– Regulatory body – Investor, shareholder – Consumer groups
– Federal and local government, – Lender, bank – Distributed generation
including power network, customers
– Creditor
police, fire department,
– Large demand customers
environment, roads, bridges,
– Rating service
river, sea, etc.
– Individual domestic customers
– EU (or similar body)
Civil society Business groups Developers
– Residents, households – Environmental groups – Commercial and housing
(environmental association) developers
– Overall public
– Conservation groups – Renewable developers
– Citizen’s initiative
– Charities
– Landowners
– Trade association
– Road users (gas, telecom,
water, wastewater, etc.)
– Permit authority
– Ethnic minorities, foreigners – Industrial unions
– Interest groups
Electricity industry Internal Delivery
– Power network organization – Individual employees – Contractors
(Entso-E (Europe), NERC
– Company unions – Suppliers
(USA), OCCTO (Japan), other
TSOs, etc.)
– Company management – Service providers
– Competitors
– Worker’s council – Human resources (HR)
organizations (skills and
– Energy suppliers, power
– Parent company management
resourcing)
generation business
if any
– Statutory planning consultees
– Demand response (DR), virtual
power plant (VPP), energy
storage, flexibility supply
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