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The concept of maintenance has been evolving in the industry through the years. Maintenance passed from been a necessary evil to a concept where organisations can generate value through maintenance activities. Implementing the right maintenance strategy can generate great benefits to a company by increasing the reliability of the assets, as well as increase production which generate higher profits and create a safe working environment, just to mention some examples.A great challenge that enterprises are facing is how to determine the maintenance strategy which can comply with all the necessities of the organisation and generate the largest revenue. Other challenges are to know how to invest, which assets to invests and how is going to be the return on investment. Investment must be considered and well analysed since technology is evolving and changing the way companies work by the implementation of industry 4.0 in the maintenance field.This master thesis focuses on analysing relevant models used to achieve maintenance excellence through study cases. Also, a maintenance excellence model is proposed, which is made based on a relevant review of the different maintenance excellence models that are presented. In addition, the model proposed considers critical factors within RAMS.Furthermore, technology is changing the way how industries are working with the implementation of industry 4.0. So, through this thesis it was reviewed from relevant condition monitoring techniques that can be applied in Statnett, to the implementation of predictive maintenance and industry 4.0 within the enterprise.In summary, this thesis examines how to achieve maintenance excellence within the enterprise in combination of the application of new digital technologies available in the market. The results are: reduction of the workload to personnel, optimisation of procedures and creation of effective ways of working without compromising reliability, maintainability and safety.