Utility asset management is a crucial component for electric and Natural Gas utilities to manage their assets efficiently. It involves tracking important variables such as age, usage, maintenance history, and other relevant factors. Asset performance management (APM) goes a step further by enhancing asset management through data analytics, condition monitoring, and predictive maintenance, which ultimately aid in making better operational decisions. By implementing a utility asset management system that includes APM capabilities, the risk of equipment failure is minimized, and the life of equipment is optimized. This results in improved efficiency, reduced emissions, and lower costs, while also ensuring maximum uptime and reliability of service for end-users.